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X_TRADER®

Supported Types of Wholesale Trades

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Standard Wholesale Trades

X_TRADER® supports the standard Wholesale Trade types listed in the following table. Each trade type is supported on multiple exchanges as indicated by the “x” in each column of the table:

Standard Wholesale Trades Supported by X_TRADER
ExchangeBlock TradesAsset Allocation TradesExchange for SwapCross Orders
BVMFx
CMEx
Eurexxxx
GMEXxx
LSEx
MEFFx
MXx
NYSE Liffexxxx
NYSE Liffe USxx
OSEx
SFExx
SGXxx
TFXxx
TSExxx

The standard Wholesale Trade types are defined as follows:

  • Block Trades: high volume trades in any outright or strategy product.
  • Asset Allocation Trades: allows the trader to enter one side (buy or sell) of a wholesale order. Alternatively, one trader can enter the entire Asset Allocation.
  • Exchange for Swap: strategy where a position in the underlying is traded for a futures position in two separate transactions.
  • Cross Orders: prearranged trades with either a counterparty within the trading firm itself or with a specified counterparty outside the firm.

In addition, Eurex and NYSE Liffe offer a number of unique trade types as listed below.

Eurex OTC Trades

Eurex offers the following types of OTC trades:

  • Block Trades: high volume trades in any outright or strategy product.
  • Vola Trades:
  • Exchange for Physicals - Equity Index Futures (EFPI Trade)
  • Exchange for Physicals - Fixed Income Futures (EFP-Fin Trade)
  • Exchange of Futures for Physical (EFP Trade)
  • Exchange for Swaps (EFS Trade)

NYSE Liffe Ex-Pit Trades

NYSE Liffe offers the following types of Ex-Pit trades:

  • Block Trades: high volume trades in any outright or strategy product.
  • Asset Allocation Trades: allows the trader to enter one side (buy or sell) of a wholesale order. Alternatively, one trader can enter the entire Asset Allocation.
  • Guaranteed Cross Trades: an order where the two sides are guaranteed to match with one another and not exist as a different order in the market. Guaranteed Cross orders validate automatically.
  • 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.
  • Prof Trades: Specifically for the Amsterdam market, Professional Trades are pre-negotiated trades between two parties that take place outside the central order book. Each trader enters one side of the Prof Trade and the details must correctly match to complete the transaction.
  • Exchange For Swap (EFS): allows trades to offset a specific OTC swap transaction for a similar commodity or a direct product of that commodity in the London and Amsterdam markets.
  • Cross Orders: prearranged trades with either a party within the trading firm itself or with a specified party outside the firm.