TT User Setup

Customer Defaults and Algo Defaults MiFID II

Customer Defaults for MIFID Support

Administrators can create Customer Defaults for X_TRADER users and configure them so that end users cannot override their values. When creating Customer Defaults, the settings highlighted below can be configured to support MiFID II compliance.

Descriptions of the MiFID II settings are provided in the following table. When setting these fields, refer to MiFID II Order Fields by Exchange.

Setting Description
FFT4

Used for free-form text or non-standard exchange fields; e.g., Tag 9707-MIFIDID on ICE.

FFT5

Used for free-form text or non-standard exchange fields. 

FFT6

Used for free-form text or non-standard exchange fields.

Investment Decision

User or firm who made the trading decision. Enter a registered ID/Short Code.

Execution Decision

User or firm that submitted the order. Enter a registered ID/Short Code.

Client

Customer identification. Enter the customer's legal entity identifier (LEI/Short Code). 

Direct Electronic Access

Sets whether or not the order is sent from direct/sponsored access, or from another

  • None
  • True
  • False
Trading Capacity

Indication of a user dealing on own account, matched principal, or any other trading capacity. Valid values:

  • None
  • DEAL
  • MATCH
  • AOTC

Liquidity Provision

Indication of market making. Valid values:

  • None
  • True
  • False

Commodity Derivative Indicator

Indication of whether the order is for hedging purposes. Valid values: 

  • None
  • True
  • False

Algo Defaults for MIFID Support

Administrators can create Algo Defaults for X_TRADER users and configure them so that end users cannot override their values.  Click Show Algo Settings at the bottom of the Customer Defaults window to show the Algo Defaults fields.

Use these settings to assign MiFID II tags to both custom and TT Algos. When creating new Algo Defaults, the following options are available for supporting MiFID II compliance.

The following table describes the algo settings options. When setting these fields, refer to MiFID II Order Fields by Exchange.

Setting Description
Selected

Sets whether the algo settings are selected by default in X_TRADER.

Username

The selected user's customer default algo settings.

Market

Sets which markets the user can trade with the selected algo.

Investment Decision

User or firm who made the trading decision. Free Text (up to 15 characters).

Direct Electronic Access

Sets whether or not the order is sent from direct/sponsored access, or from another

  • None
  • True
  • False

Liquidity Provision

Indication of market making. Valid values:

  • None
  • True
  • False
FFT4

Used for free-form text or non-standard exchange fields; e.g., Tag 9707-MIFIDID on ICE.

FFT5

Used for free-form text or non-standard exchange fields. 

FFT6

Used for free-form text or non-standard exchange fields.

Execution Decision

User or firm that submitted the order. Enter a registered ID/Short Code.

Algo

Name of the TT order type or custom algo used for submitting the order. Custom algos that appear in the dropdown list are added to TT User Setup using the User Admin | Algo Types screen.  Select one of the following: 

  • None
  • ADL
  • Aggregator
  • Autospreader
  • Autotrader
  • Liquidate
  • Sniper
  • SSE

Adding Custom Algos

Custom algos can be added to TT User Setup and selected when you configure your algo defaults. To add custom algos:

  1. In the TT User Setup control panel, click User Admin | Algo Types.
  2. In the Algo Types pane, click New... to enter the custom algo name and click Save.