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X_TRADER®

Setting Implieds

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Implied prices and quantities derive from direct orders in a combination of outright contracts and spreads/strategies. Implied pricing evolved at exchanges that trade contracts, spreads and strategies involving different combinations of the contract months.

Example: A bid in one contract month and an offer in a second contract month combine to imply a bid in the spread between the two months.

By calculating and displaying implied prices and quantities, exchanges found they could improve the best Bid/Ask price or add liquidity to certain contracts or strategies.

To set implieds...

  1. From the Control Panel, click the Settings menu and choose Properties.
  2. On the Trading tab, click to select the options you want:

    • Include Implieds in Market columns and in Depth: Exchange calculated implieds.
    • Calculate Implieds instead of Exchange Implieds: calculated implieds.
  3. Click OK.