- Introduction To X_TRADER®
- TT Login
- Workspace Management
- Control Panel Icon And Menu Descriptions
- Trading And The Market Explorer
Trading And The Market Window
- Introduction to the Market Window
- Order Pane
- Submitting an Order using the Order Pane
- Launching an OTA from the Order Pane
- Selecting an Order Gatewayor Broker in the Market Window
- Applying Routing Rules in the Market Window
- Confirming Your Order in the Market Window
- Customizing the Quantity Buttons
- Order Pane Field Descriptions
- Algo Order Pane Field Descriptions
- Order Pane Context Menu
- Market Grid in the Market Window
- Using the Instrument Explorer in the Market Grid
- Market Grid Pane Field Descriptions
- Generating an RTD Formula
- Highlighting in the Market Grid
- Viewing Price Trend Indicators in the Market Grid
- Viewing Live-Only Contracts
- Viewing your Estimated Position In Queue
- Cloning Contract Rows
- Trading Eurodollar Options
- Launching an Algo in the Market Grid
- Market Grid Context Menu
- Viewing Market Depth
- RFQ Overview
- RFQ MiFID II
- Calculating Implieds
- Calculating Implied Ins
- Calculating Implied Outs
- Calculating Implied Quantities
- Calculating Implieds From Implieds
- Implied Functionality by Market
- Setting Implieds
- Viewing Implieds
- Managing Links
- Keyboard Trading in the Market Window
Trading And MD Trader
- Introduction to MD Trader
- MD Trader Field Descriptions
- Using the Instrument Explorer in MD Trader
- MDTrader - Order Entry
- MD Trader - Order Management
- MD Trader and Managing Links
- MD Trader - Displaying Market Data
- MD Trader - Configuration
- Using the MD Trader Context Menu
- Keyboard Trading in MD Trader
Orders And Fills Window
- Introduction to the Orders and Fills Window
- Order Modification Pane
- Order Toolbar
- Orders Pane
- Performing Order Status Inquiries
- Deleting an Order
- Canceling and Replacing an Order
- Holding Orders
- Pausing Synthetic Orders
- Changing Trigger Price Orders
- Recognizing Orders in an Unknown State
- Modifying Running Algo Variables
- Launching an OMA
- Keyboard Functions
- Fills Pane
- Adding a Manual Fill
- Deleting a Manual Fill
- Confirming Fills
- Changing Fill Account Information
- Start of Day Fills
- Fills Alert Dialog Box
- Using the Fills Pane Context Menu
- Fills Pane Column Descriptions
- Summary Pane
- Displaying Profit and Loss
- Position and Summary Pane Grouping
- Using the Summary Pane Context Menu
- Summary Pane Column Descriptions
- Introduction to the Position Window
- Position Pane
- Displaying Profit and Loss in the Position Pane
- Position Pane Context Menu
- Calculating Profit and Loss
- Orders and Fills Pane Context Menu
- Understanding Credit and Margin
- Position Pane Grouping
- Position Pane Column Descriptions
- Orders and Fills Pane
- Order Status Inquiries
- Deleting an Order from the Position Window
- Confirming Fill Orders in the Position Window
- Holding Orders in the Position Window
- Pausing Synthetic Orders in the Position Window
- Recognizing Orders in the Unknown State
- Orders and Fills Pane Column Descriptions
- Keyboard Functions and the Position Window
- Order Passing
- Quote Board
- Depth Window
- Introduction to the Spread Matrix
- Launching the Spread Matrix
- Navigating the Spread Matrix
- Customizing the Spread Matrix
- Displaying the Butterfly-Condor Matrix
- Butterfly Condor Matrix Overview
- Trading with the Spread Matrix
- Spread Matrix Calculations
- Butterfly Matrix Calculations
- Spread Matrix Context Menu
- Creating Strategies
- Audit Trail
- Floating Windows Overview
- Floating Order Book Overview
- Using the Floating Order Book
- Managing Algos in the Floating Order Book
- Keyboard Trading in the Floating Order Book
- Floating Order Book Column Descriptions
- Floating Depth Window
- Floating Net Position Window
- Using Floating Order Entry
- Using Multiple Floating Order Entry Windows
- Trading with the Order Bar
- Launching via the Net Position Field
- Seeding the Floating Order Entry
- X_TRADER Order Types
- Cross Orders
- Triggered Orders
- Iceberg Orders
- If Touched
- Triggered If Touched Orders
- Triggered Stop Orders
- Limits on Market Orders
- Machine Gun
- Market On Auction (MOA)
- Market On Close (MOC)
- Market On Open (MOO)
- Minimum Volume
- Submitting a Mutual Offset Order
- On Behalf Of Orders
- Order Cancels Order
- Duration Orders
- Time Sliced Orders
- Timed Orders
- Trailing If Touched Orders
- Trailing Limit Orders
- Trailing Stop Orders
- Volume Duration
- Volume Sliced Orders
- Best Limit
- Managing Saved Orders
- Saved Orders MiFID II
- Synthetic Orders on X_TRADER
- Introduction to Staged Orders
- Staged Order Creation
- Entering Related Child Orders
- Staged Order Management
- Staged Order Ownership
- Permissions and Risk
- Staged Orders Properties
- Introduction to Wholesale Trading
- SupportedTypes of Wholesale Trades
- Wholesale Orders MiFID II
- BVMF Cross Trades
- CME Cross Trades
- Eurex Wholesale Trades
- GMEX Wholesale Trades
- HKEx Wholesale Trades
- ICE Wholesale Trades
- LSE Cross and Committed Trades
- MX Cross and Committed Trades
- MEFF Cross Trades
- NYSE Liffe Wholesale Trades
- Euronext Wholesale Trades
- NYSE Liffe U.S. Wholesale Trades
- OSE J-NET Trades
- SFE Block Trades
- SGX Trade Reporting: One Sided Trades
- TFX Block Trades
Automated Trading Windows
- Automated Trading Overview
- Introduction to the Algo Dashboard
- Deploying Algos
- Algo Order Management
- Sharing Algos in the Algo Explorer Pane
- Renaming Algos in the Algo Explorer Pane
- Deleting Algos in the Algo Explorer Pane
- Launching Algos in the Algo Variable Pane
- Updating Algos in the Algo Explorer Pane
- Setting Favorite Algos in the Algo Explorer Pane
- Managing Algo Templates
- Algo Behavior at Market Close
- Algo Behavior When the Algo SE Server is Restarted
- Algo Variable Pane
- Algo Explorer Pane
- Algo Orders Pane
- Algos Dialog Box
- Algo Dashboard Column Descriptions
- Algo Orders Pane Context Menu
- Algo Explorer Pane Context Menus
- Order Management
- Order Book
Parent Order Book
- Introduction to the Parent Order Book
- Parent Order Book Toolbar Field Descriptions
- Managing Autospreader Orders in the Parent Order Book
- Managing Staged Orders in the Parent Order Book
- Managing Synthetic Orders in the Parent Order Book
- Managing Algo Orders in the Parent Order Book
- Viewing Child Orders
- Parent Order Book Context Menus
- Algo Variable Pane in the Parent Order Book
- Introduction to the Fill Window
- Fill Window Fills Pane
- Fill Window Fills Pane Column Descriptions
- Fill Window Fills Pane Context Menu
- Fill Window and Start of Day Fills
- Managing Manual Fills in the Fill Window
- Changing Fill Account Information in the Fill Window
- Fill Window Position Pane
- Displaying Profit and Loss in the Fill Pane
- Fill Window Position Pane Column Descriptions
- Analytic Windows
- Alerts Manager
- Time And Sales
- Settings And Global Properties
- Introduction to the Customer Defaults
- Creating a Customer Defaults Profile
- Changing a Customer Defaults Profile
- Deleting a Customer Defaults Profile
- Setting Customer Defaults to Read-Only
- Sharing your Customer Defaults Profile
- Using the Customer List
- Customer Defaults for MiFID II
- Algo Defaults for MiFID II
- Customer Defaults Dialog Box Field Descriptions
- Order Defaults
- Risk Parameters
- Routing Rules
- Login Gateway
- Global Properties
- TT Minimizer
- Screen Configuration
- Customizing Fonts
- Filtering And Sorting Data
- Formatting Grids
- Resizing And Printing Windows
- Tabbed Windows
MD Trader – Order Management
You are viewing X_TRADER Version 7.17 and higher. For earlier versions, click here
Changing Order Quantity Using a Mouse
In MD Trader most users use the keyboard to enter order quantity amounts in the Order Quantity field. However, you can also use the mouse wheel to change order quantity.
Using the mouse wheel to change the order quantity is subject to the following constraints:
- The restrictions established by Guardian firstly, and the maximum trade quantity defined on the MD Trading tab secondarily.
- Orders increase or decreases by a quantity of ten.
Follow these procedures to change the order quantity using the mouse:
To set the quantity change property:
- Open MD Trader.
- Right-click anywhere in MD Trader and click Properties.
- Click to select the Enable qty change on left/right click in edit fields option.
- To set this property for all subsequently opened MD Trader windows, click to select Set as Global default.
- Click OK.
To change order quantity using the mouse wheel:
- Set the quantity change property.
- Click in the Order Quantity box.
- Move the mouse wheel to increase or decrease the order quantity.
Changing Working Orders
You can drag-and-drop working orders from one location to another in MD Trader.
To drag-and-drop a working order:
- Right-click and continue holding down any price and working cell information in the Working Quantity column.
Warning: Be very careful. A right-click and release deletes the order!
- Drag and drop the price/quantity to the cell where you want to place the order and release the button.
Follow these procedures to delete your orders in MD Trader:
To delete all your orders:
If you have the Delete all when LTQ column clicked property enabled, left or right-click on any grid cell in the Last Traded Quantity column to delete all of your working bids and offers.
- or -
Click the Delete All button.
To delete a single order:
To delete a single order, click its cell in the Working Quantity column.
To delete all Bids or all Offers:
If you have the Delete Bid/Ask property enabled:
- Click the blue Delete n to delete all workig bids.
- Click the red Delete n to delete all working offers.
To delete the working quantity of all orders at a given price level:
Left or right click on any cell in the Working Quantity column.
If the working quantity is for 50 orders, for example, in five separate 10-lot orders, all five orders delete. If there is only a single 50-lot order, this single order deletes.
You can quickly filter orders displayed in MD Trader by customer or broker. When a filter is applied only orders associated with that broker or customer will display in MD Trader.
To Filter Orders in MD Trader:
Click the upper left corner of the Broker or Customer.
The upper left corner turns red and a "Filters On" appears after the contract name indicating a filter has been applied.
Tip: Selecting another broker or customer account while filtering is enabled displays working orders, net position, and average price for that particular broker or customer..
To remove the filter click the upper left corner again.
The filter is removed.
Viewing Just Your Orders
If you are sharing an Order Book with other traders, you can filter MD Trader to just show your orders.
You can do this using the context menu option called View My Orders Only.
Once selected, a icon appears above the price column. This indicates you are only seeing your orders in MD Trader.
Viewing your Estimated Position in Queue
You can view your Estimated Position in Queue (EPIQ) in MD Trader and the Market Grid. EPIQ estimates how many contracts are in front of your order at any given price.
- If your EPIQ is 10, there are approximately 10 contracts ahead of your order.
- If 3 contracts trade, your EPIQ changes to 7.
- If your EPIQ is 0, your order should be the next to fill.
Note: EPIQ is not sent from the exchanges. X_TRADER calculates an EPIQ based on quantity of trades occurring in front of the order, and does not account for cancelled orders nor pro-rata allocations.
To display the EPIQ columns:
- Right-click MD Trader and click Properties.
- Click the MD Display tab.
- Click to select the Estimated Position in Queue (EPIQ) property in the Columns section.
- To set this property for all subsequently opened MD Trader windows, click to select Set as Global Default.
- Click OK.
In MD Trader the EPIQ is a set of columns to the left of the buy quantities.
To display the EPIQ, click to select the property in the Columns section of the MD Trader Display tab.
In MD Trader, the EPIQ number is color-coded to give you even more information about your order.
- By default your EPIQ number is black.
- If your order is the inside market, the color turns white.
- If your order is the first in the queue, the color turns yellow.
You can configure EPIQ colors on the MD Color tab.
Reading Working Column Abbreviations
Abbreviations in the working column help you track your working orders.
Your order is Working (W) when it has been sent but has not received fill.
Your Buy (B) or Sell (S) order has received a fill but may still have a working quantity.
An Undisclosed (U) quantity appears when you place an order that has not yet entered the market.
Order restrictions with undisclosed quantities include:
A Disclosed (D) quantity appears when you place an order that hides a portion of its overall quantity. When you have a disclosed quantity, the undisclosed abbreviation shows the portion of the order still hidden.
Order restrictions with disclosed quantities include:
A synthetic spread order exists for a period in time, during which Autospreader is maintaining and updating the spread orders Working, Pending, Legged and Filled counts. A lifespan for a synthetic order is over when Working, Pending, and Legged are all equal to zero, or when the spread order is deleted.
Example: A time sliced order to buy 100 contracts, 10 at a time with no variance in 10 second intervals at the same price appears like this:
After 15 seconds, two child orders of 10 contracts each have entered the market, with one contract executed:
Autospreader Order Column Abbreviations
An Autospreader order is working when all its quoting orders have been sent but none have been filled.
An Autospreader order is pending when:
If one or more quoting orders is deleted, the spread order remains pending if it is still possible to fill that spread order defined by its spread ratio.
An Autospreader order is legged when:
If one or more quoting orders is deleted, the spread order remains legged if it is still possible to fill that spread order in the outright quantities defined by its spread ratio.
An Autospreader order is filled when the number of its quoting orders and the number of its hedge orders have been filled in the exact quantities defined by the spread ratio.
A spread fill price is only created when the exact quantities defined by the spread ratio are completely filled.
Resting Market Orders
If allowed by the exchange, you can enter market orders that rest in the book without matching during an Auction or Pre-Open period. These resting market orders are matched when the market opens using the price calculated by the exchange matching engine.
X_TRADER distinguishes these market orders from limit orders. In MD Trader, the total quantity of resting market orders to buy display above the Bid Quantity column and the total quantity of resting market orders to sell below the Ask Quantity column.
The Market Window also displays resting market orders during an Auction or Pre-Open period. The Bid Market Quantity (BidMktQty) column displays the total quantity of resting market orders to buy and Ask Market Quantity (AskMktQty) displays the total quantity of resting market orders to sell. These optional columns are off by default, and you can expose these columns from the Show/Hide Columns dialog box.