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X_TRADER®

NYSE Liffe U.S. Wholesale Trades

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

You can use the Wholesale Order window to submit cross orders to NYSE Liffe U.S.

  • Block Trades: high volume trades in any outright or strategy product.
  • Basis Trades: strategies for long-term bond markets that incorporate a futures leg and an underlying (or cash) leg.
  • Against Actual: strategies for commodities markets that incorporate a futures leg and an underlying commodity leg.

The fields in the Wholesale Order window vary depending on the type of product or strategy you trade. If the product is a strategy, the associated legs for that strategy are listed in the appropriate fields in Wholesale Order window.

Note: For information on submitting a wholesale trade on a strategy, refer to “Strategy Wholesale Trades” on page 48.

Submitting Wholesale Trades on NYSE Liffe U.S.

The following figures show the fields used for submitting the various wholesale trades on NYSE Liffe U.S. (an example of a Giveup trade is also provided):

NYSE Liffe U.S. Wholesale Trades

Giveup

Block Trade

Basis

Against Actual

To submit a wholesale trade on NYSE Liffe U.S.:

  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 an order type in the Order Types pane and set the quantity and price for the Block trade.
  4. Complete the exchange-specific fields as listed below.

The table below lists the common fields for submitting wholesale trades on NYSE Liffe U.S.

Wholesale Trades on NYSE Liffe U.S.

X_TRADER Field

Values/Examples

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 Number

Free-form text up to 14 characters.

Sets an additional, user-defined client identifier.

This field is optional for London products and mandatory when trading Amsterdam products. For all other markets, this field is only mandatory if you populate the Clearing Instruction field.

This field is forwarded to the exchange API as ClientInfo.

Account Type

Giveup

House

Market Maker

Non Segregated

Segregated

Customer

Sets the type of account the trade will be submitted.

For all markets, if set to Giveup, the user must specify Trader or Member in the Party Role field and set the counterparty value in the ITM field.

Note: For Cross trades, the Account Type uses the values A1-U1. For a description of these values, refer to the Account Types page in the NYSE Liffe U.S. help.

Party Role

Member

Trader

Sets whether the value in the ITM (Individual Trader Mnemonic) field is set for the Trader ITM or Member ITM. This field is mandatory for Giveup orders.

ITM

4HA

(example)

Sets the Individual Trader Mnemonic (ITM) provided by the exchange. This field is mandatory for Giveup orders.

When providing an ITM, you must set whether this value equals the Trader or Member ITM by selecting the appropriate value in the Party Role field.

Open/Close

Open

Close

Sets whether the trade opens or closes the traders’ positions.

Client Reference

Free-form text up to 14 characters.

Sets an additional, user-defined client identifier.

This field is only mandatory when trading Amsterdam products and Account Type equals Client. This field is optional for all other cases and forwarded to the exchange API in the Account field.

For a description of the CTI/Origin fields, refer to the Support for Account Codes page in the NYSE Liffe U.S. Online Help.

Additional Fields for Basis and Against Actual Trades

To submit Basis and/or Against Actual trades, you must first complete the fields listed in Common Wholesale Trade Fields for NYSE Liffe U.S. In addition, you must complete the Order Details section as listed below.

Additional Fields for Basis and Against Actual Trades

X_TRADER Field

Description

ISIN

You may populate this field with the ISIN code (International Securities Identification Number) of the underlying cash leg for the trade.

This field is required for Basis trades and optional for Against Actual.

Cash Price

You may populate this with the cash price of the underlying contract.

Cash Reference

You must populate this with the user-defined reference for the cash leg of the Basis. This field allows a maximum of 14 alpha-numeric characters.