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X_TRADER®

MEFF Cross Trades

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

You can use the Wholesale Order window to make cross trades and flex trades on MEFF when connected to a MEFF Gateway Version 7.17.20 or higher. For entering cross trades on earlier gateway versions, refer to Cross Orders.

Note: Cross trades on MEFF are considered OTC trades. Prices generated by the cross trades are not included in the central order book, and fills do not update the LTP in the book. An RFQ timer is available for cross trades.�

Submitting MEFF Cross Trades

In the Wholesale Order window, the following additional fields are used for submitting a MEFF cross trade.

To submit a MEFF Cross Trade:

  1. Open the product you wish to trade in a Market Grid window.
  2. In the Market Grid, right-click the row containing the product and select Wholesale Orders from the context menu.

    Note: The Wholesale Orders options is grayed-out if:

    • Your administrator has not enabled wholesale trades in TT User Setup.
    • The product/exchange does not support wholesale trades.
  3. Select Cross in the Order Types pane.

    The Contract, Quantity, and Price are populated automatically in the Wholesale Order window.

  4. Complete the remaining fields for both sides of the trade as listed below
MEFF Cross Trades

X_TRADER Field

Value(s)

Description

Customer

A drop-down list of available Customers.

Only customers selected in the X_TRADER Customer Defaults window appear in the Customer field list. This is an optional field.

When a customer selection is made, the Account Number field is populated with the customer’s account number.

Note: Any changes to customer defaults (e.g., select another customer) requires a relaunch of the Wholesale Order window to pick up the most recent changes.

Account

Account number

Sets the account name or number used for the trade. Populated from Account#. This is a required field for both buyer and seller.

Sides

Buy

Sell

Sets whether the trade opens or closes a position.

Order

Reference

Text field.

Enter optional text up to 15 characters.

Once the fields are complete, press the Send button.

Submitting MEFF Cross Trades with Flexible Contracts

A flexible contract or “flex trade” is a cross trade where the user overrides the original instrument value with a user-selected instrument value. For futures, you can override the expiration date; for options, you can override call/put, expiration, strike, and multiplier values. No RFQ timer is available for Flex Trades.

To submit a MEFF Cross/Flex Trade:

  1. Open the product you wish to trade in a Market Grid window.
  2. In the Market Grid, right-click the row containing the product and select Wholesale Orders from the context menu.

    Note: The Wholesale Orders options is grayed-out if:

    • Your administrator has not enabled wholesale trades in TT User Setup.
    • The product/exchange does not support wholesale trades.
  3. Select Cross in the Order Types pane.

    The Contract, Quantity, and Price are populated automatically in the Wholesale Order window.

  4. In the Flex Contract field, select Yes from the drop down menu.
  5. The remaining fields are populated for both sides of the trade as listed below
MEFF Cross Trades

X_TRADER Field

Value(s)

Description

Expiration Date

Sets expiration date using the date populated in X_TRADER. Used for futures and options.

Call/PutCall or Put

Select a call or put for an options contract.

Strike Price

A valid tick price.

Sets the strike price for the selected options contract.

Once the fields are complete, press the Send button.