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X_TRADER®

Trading a Spread or Strategy

You are viewing X_TRADER Version 7.17 and higher. For earlier versions, click here

There is no difference to trading the strategies you create and those published by the exchange. You select the Spread product type from Market Explorer and open it in the same Market window.The strategy name you entered appears in the Product column. If you did not enter a personalized name, the default name is the spread type, spread ratio, expiration.

Tip: You can also launch a trading window with one of your saved strategies directly from the Create Strategy window.

Note: As always, refer to the exchange’s market rules for trading information specific to that exchange.

Trading Strategies with a Maximum Limits

TT User Setup pre-execution risk management credit controls, (i.e., Maximum Order Quantity limit, Maximum Position limit, and Trade Out) impact trading in the following manner:

  • Each leg of the strategy is subject to your quantity and position limits.

Example 1: You place a buy order for 15 GE Mar13 – Jun13 Calendar spread. According to Spread Risk controls, you would be long 15 Mar13 GE and short 15 Jun13 GE. If your Maximum Position is 20, you could only buy 5 more Mar13 GE, or sell 5 more Jun13 GE.

  • You can only exceed your quantity limit if your Trade Out designation is set to yes.

Example 2: Assuming your position is long 20 Mar13 GE and short -20 Jun13 GE, you place an order for 20 GE Jun13 – Mar13.

  • If your Maximum Order Quantity is 15 and Trade Out is set to no, this order is rejected.
  • If your Maximum Order Quantity is 15 and Trade Out is set to yes, this order is accepted.