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X_TRADER®

MD Trader Field Descriptions

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

The MD Trader window maintains default settings that can be modified in its Properties menu. Enable the Show Tooltips property to see a small text description of certain fields when you hover the cursor over them.

Note: MD Trader is protected by U.S. Patents Numbers 6,766,304 and 6,772,132.

 

Column 1

 

PropertyDescription

Instrument Explorer and System Clock

Launches the Instrument Explorer from the MD Trader window to select Product Types, Products, and Instruments (contracts). This is similar functionality provided as part of the Market Explorer in the X_TRADER control panel.

The system clock displays the current time according to your workstation.

Net Change

Displays the net changes. Net change is the difference between the last traded price and the settlement price.

Total Contract Volume

Displays the total volume traded for that contract.

Broker

Select a broker, order gateway, and customer using the routing configuration dialog.

Note: This field is only available in X_TRADER ASP mode.

Tip: Filter the orders displayed in the MD Trader by clicking the triangle in the upper left corner. The triangle turns red when a filter has been applied. When filtered, net position and working orders are displayed only for the selected broker.

Order GatewayCustomer List

Select an order gateway and customer using the routing configuration dialog.

Tip: Filter the orders displayed in the MD Trader by clicking the triangle in the upper left corner. The triangle turns red when a filter has been applied. When filtered, net position and working orders are displayed only for the selected TT Gateway or customer account.

Net Position

Displays your net position.

Click the Net Position field to trade out your position. This automatically populates the Order Entry field with your net position.

Order Quantity

Indicates the order quantity sent to market. After you submit the first trade of the day, this field populates with the value you place in the Default Quantity field.

Note: An Invalid Parameter Combination warning displays at the top of the MD Trader window when the quantity entered is incompatible with the selected order default parameters. X_TRADER adjusts the parameters automatically to resolve the issue before the order enters the market.

1 / 10 / 50 / 5 / 20 / 100

Preset order quantity buttons. To customize a pre-set order quantity, right-click a button. Enter a value using the keyboard, and press Enter.

Clear

Clears the Order Quantity field.

Default Order Quantity

Populates the Order Quantity field after each trade with the value entered in this field.

Order Type buttons

Lets you choose an order type, order template, or algorithm to your apply to your next order.

Access the MD Trader Properties menu from the context menu to add more order type buttons.

Note: Order templates appear in italics and algorithms appear in italics with yellow border.

Cancel All

Deletes all working, held and stop orders for this series of contracts.

This feature behaves differently for an exchange trader versus a proxy (TTORD) trader:

  • If an exchange trader uses this feature, all working for that contract for all sponsored proxy traders are deleted.
  • If a TTORD trader attempts to use this feature, it converts one message into to multiple individual delete requests by the client application to prevent a trader from deleting the exchange trader’s working orders (for that contract).

Cancel n (red)

Deletes working sells (indicating the number of working sells).

Cancel n (blue)

Deletes working buys (indicating the number of working buys)

Liquidate

Flattens your position.

Refer to Liquidating a Position.

When you use the Liquidate button, MD Trader deletes all working orders on both sides of the market and sends an order that removes you from your position, long or short, regardless of your credit limit.

Column 2

Column 2Description

Working Quantity Column

Displays all working quantities (W) and executions (S or B) for an order.

Note: If an Autospreader, Autotrader, or algo order has been assigned a color it displays within this column. When multiple Autospreader, Autotrader, algo orders are running at the same price level the color displays as black.

 

Column 3

 

Column 3Description

Estimated Position In Queue (EPIQ)

Indicates how many contracts are in front of your order at any given price.

Refer to Viewing your Estimated Position In Queue.

 

Column 4

 

Column 4Description

Bid Indicator Column

Indicates price settings when you enable the Bid indicator column property.

You may paste a value in the column from a spreadsheet. The value of the spreadsheet appears in a white box.

In pre-market trading, when X_TRADER receives an indicative price, X_TRADER highlights the price column using the Last Traded Price color scheme (as configured for this X_TRADER instance):

  • X_TRADER highlights the initial indicative price using the Last Trade Price Unchanged color.
  • If the indicative price is higher than that previous indicative price, X_TRADER highlights the price using the Last Traded Price Up color.
  • If the indicative price is lower than the previous indicative price, X_TRADER highlights the price using the Last Traded Price Down color.

    Note: For information about changing the Last Traded Price colors, refer to the Colors (MD Trader) topic.

 

Column 5

 

Column 5Description

Number Of Bid Orders Column

Displays the number of bid orders associated with the reported market depth. The exact number will display up to 100, after that the number rounds up with an estimate (e.g., 100+, 200+, 300+).

The value displays as inexact by placing a plus (+) sign after the number when:

  • Implied orders are included in depth.
  • Inexact values are included when merging implied and direct values.
  • As a result of a merge, the number of orders exceeds the maximum value allowed by TT.

 

Column 6

 

Column 6Description

Buy Column

Displays current market bids, implied bid outright prices, implied bid spread prices and implieds from implieds bid values.

When you enable Keyboard Trading, a colored cursor appears in the Buy column, indicating the current price level for an order. Refer to Keyboard Trading in MD Trader.

If supported by the Gateway, the total quantity of resting buy orders displays at the top of the column.

Note: For inverted price ladders, the total quantity of resting buy orders displays at the bottom of the column.

 

Column 7

 

Column 7Description

Price Column

Indicates market price and depth. Arrows appear at the top and bottom of this column, letting you page up or page down to view more prices:

  • To move the market view upwards, click the up arrow:
  • To move the market view downwards, click the down arrow:

    A yellow line indicates the highest price of the day. A red line indicates the lowest price of the day. A darkened background indicates the prices fall between the high and low.

    Note: If no other price is available, but you still want to scroll up and down, use the arrow keys on your keyboard.

In pre-market and auction trading, when X_TRADER receives an indicative price, X_TRADER highlights the price column using the Last Traded Price color scheme (as configured for this X_TRADER instance):

  • X_TRADER highlights the initial indicative price using the Last Trade Price Unchanged color.
  • If the indicative price is higher than that previous indicative price, X_TRADER highlights the price using the Last Traded Price Up color.
  • If the indicative price is lower than the previous indicative price, X_TRADER highlights the price using the Last Traded Price Down color.

 

Column 8

 

Column 8Description

Sell Column

Displays current market offers, implied offer outright prices, implied offer spread prices and implied from implied offer values.

When you enable Keyboard Trading, a colored cursor appears in the Sell column, indicating the current price level for an order. Refer to Keyboard Trading in MD Trader.

If supported by the Gateway, the total quantity of resting sell orders displays at the bottom of the column.

Note: For inverted price ladders, the total quantity of resting sell orders displays at the top of the column.

 

Column 9

 

Column 9Description
Number Of Sell Orders Column

Displays the number of sell orders associated with the reported market depth. The exact number will display up to 100, after that the number rounds up with an estimate (e.g., 100+, 200+, 300+).

The value displays as inexact by placing a plus (+) sign after the number when:

  • Implied orders are included in depth.
  • Inexact values are included when merging implied and direct values.
  • As a result of a merge, the number of orders exceeds the maximum value allowed by TT.

 

Column 10

 

Column 10Description

Ask Indicator Column

Indicates price settings when you enable the Ask indicator column property.

You may paste a value in the column from a spreadsheet. The value of the spreadsheet appears in a white box.

 

Column 11

 

Column 11Description

Last Traded Quantity Column

Indicates the last traded quantity at that price. Also, you can configure this column to display Volume by Price in bar, text, or tool tip format.

 

Additional Fields

 

Additional FieldsDescription

Scroll Bar

Indicates orders exist above or below what is visible in the window. Use a mouse to scroll up or down MD Trader.

Market Mid-Point Bar

Designates the midpoint of the inside market with a bold black line. Refer to Displaying the Mid-Point of Inside Market.