- 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
Euronext Wholesale Trades
NYSE Liffe Gateway 7.18.40 and X_TRADER 7.17.89 and higher support the following types of OTC trades via Euronext Optiq:
- Large-in-Scale Trades — high volume trades in any outright or strategy product.
- Large-in-Scale Package Trades — 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.
- Against Actual — strategies for commodities markets that incorporate a futures leg and an underlying commodity leg.
- Request for Cross — A cross order submitted for a specific duration of time to allow price improvement and matching based on responses to the request from other traders.
The fields in the Wholesale Order window vary depending on the exchange, type of product, or instrument you trade. If the product is a strategy, the associated legs for that strategy are listed in the appropriate fields in Wholesale Order window.
If you need to cancel a wholesale order, contact the exchange and provide them with your ITM. If you don’t know which ITM was used to place the order, contact your TT Gateway administrator for your ITM ("SenderCompId" in the gateway hostinfo.cfg file).
To submit a wholesale trade on Euronext:
- Open the product you wish to trade in a Market Grid window.
- 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.
- Select an order type in the Order Types pane and set the quantity and price for the Wholesale trade. For Volatility strategies, manually input the quantities for the legs of the trade, as well as the spread quantity.
- Complete the exchange-specific fields as listed below.
Common Wholesale Trade Fields for Euronext
The list below shows the common fields for submitting wholesale trades on Euronext. For Large-in-Scale trades, these are the only applicable fields.
For additional wholesale trade types, you must also complete the additional fields listed in the help sections that follow.
- Customer — A drop-down list of available customers. Only customers selected in the X_TRADER Customer Defaults
window appear in the list. This is a required field. When a customer selection is made, the Account Number field is populated with the customer’s account number if provided.
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 is an optional field and is sent to the exchange API in the "ClientInfo" field.
- Account Type — Sets the type of account used for submitting the trade. Valid values are Giveup, Customer, House, and Market Maker. The Account Type is required for all markets. If set to Giveup, then select Trader or Member in the Party Role field and enter an optional counterparty value in the ITM field. The Clearing Instructions field will also be set to Giveup.
- Party Role — Sets whether the value in the ITM (Individual Trader Mnemonic) field is set for the Trader ITM or Member ITM. Valid values are Member and Trader. This field is required for Giveup orders.
- ITM — Sets the Individual Trader Mnemonic (ITM) provided by the exchange. Example value is 4HA. This field is optional 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 — Sets whether the trade opens or closes the traders’ positions.
- Order Reference — A free-form text field that supports up to 16 characters. This field is optional and can be set to any unique value to represent either the trader or order reference. If entered, this value is sent to the exchange API in the SecondaryClOrdID field.
- Client Reference — Sets an optional, user-defined client identifier. This is a free-form text field that supports up to 14 characters. Sent to the exchange API in the "Account" field.
- Clearing Instruction — Sets whether the trade must be posted to a specific account in the clearing system. Valid values are <optional>, Manual Posting, Automatic Posting, and Giveup. The selected value is forwarded to the exchange API in the "ClearingInstruction" field. When set to Giveup, you must populate the Party Role field; the Account Type will also be set to "Giveup."
The following figure shows the fields entered for Large-in-Scale trades.
Additional Fields for Large-in-Scale Package Trades
- Package ID: Sets the LIS Transaction ID on both sides of the transaction. This field is optional for the Initiator, but required for the Reactor. The LIS Transaction ID is provided by the exchange after the Initiator submits the trade.
- Initiator/Reactor: Sets your role in setting up the Large-in-Scale Package trade. Select Initiator if you are the party who initiates a transaction, or select Reactor if you are serving as the counterparty.
- Buy/Sell: Sets one side (Buy or Sell) of a Large-in-Scale Package order based on whether your role is Initiator or Reactor. Forwarded to the exchange API in the "NoSides" field.
The following figure shows additional fields for Large-in-Scale Package trades.
Large-in-Scale Package trades are submitted as single-sided transactions. After submitting a Large-in-Scale Package trade as an Initiator, record the LIS Transaction ID provided by the exchange and send this value to the counterparty. The LIS Transaction ID is shown as a "Package ID" in the exchange message displayed in the Msg column in the Audit Trail.
The counterparty as the Reactor submits the opposite side of the trade by entering the LIS Transaction ID in the Package ID field to complete the transaction.
Additional Fields for Exchange For Swap (EFS)
EFS wholesale trades can be submitted only for futures and options instruments. To submit Exchange For Swap (EFS) trades, you must first complete the fields listed in "Common Wholesale Trade Fields for Euronext." In addition, you must complete the following field:
ISIN: Populate this field with the ISIN code (International Securities Identification Number) of the underlying contract.
The following figure shows the fields for EFS trades.
Additional Fields for Against Actual Trades
Against Actual trades can be submitted only for futures instruments. To submit Against Actual trades, you must first complete the fields listed in "Common Wholesale Trade Fields for Euronext." In addition, you must complete the following additional Fields for Against Actual trades:
- 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 optional for Against Actual trades.
- Cash Price: You may populate this with the cash price of the underlying contract.
- Cash Reference: An optional, user-defined reference for the cash leg of the trade. This field allows a maximum of 14 alpha-numeric characters.
The following figure shows additional fields for Against Actual trades.
Submitting Euronext Request for Cross (RFC) Trades
For Euronext commodity option contracts, you can submit a Request For Cross (RFC) order using the Wholesale Order window in X_TRADER 7.17.65 and higher. An RFC provides an alternative to submitting an RFQ for both the member who initiates the RFC and the crossing member.
Both the Buy and Sell side of the RFC must be entered in the Wholesale Order window. Per exchange rules, only one RFC can be active in a given contract or strategy.
RFCs can be submitted in outright option contracts. In addition to the price, quantity (minimum quantity enforced), and sides, the following figure shows the remaining fields used for submitting a Request for Cross (RFC) trade: