New Order Window

How to access

Description

The New Order Window is used to enter, change or amend orders.

Order

Click BUY or SELL.

If you double click on the Bid or Ask column in the Orderbook, the price and volume are automatically inserted in to the New Order Window. You can change the behaviour in trading settings

Tick sizes

Click on the up and down arrow to the right of volume and price in order to increase or decrease the values. When changing price, the increase and decrease will be based on the symbol's tick size.

Portfolio

Each order is placed on a portfolio. For users with one portfolio, the portfolio will be shown, but not be changeable. For users with access to multiple portfolios, it is possible to select which portfolio to place the order on.

Active vs inactive orders

An Active order is sent to the marketplace directly. An Inactive order is only sent to the trading system, not to the market place. An inactive order can be changed to active in the Orders tab in the Trading Window when you right-click on the order.

Advanced fields

Click Adv. (short for Advanced) to show additional order entry fields. Advanced may include:

Open Volume - The volume you want to expose to the public order book, must be less or equal to Volume.

Valid - Valid until date - set if the order should be kept in the market for longer than today. Some trading providers does not allow setting a valid until date.

Trad.power - Short for Trading Power. This shows your current trading power in the given portfolio. For some trading providers the displayed trading power will be relative to the instrument you are about to create an order on.

Type - Short for order type. Possible values are defined under Order Types

Comment - The comment field allows you to associate arbitrary text with your order. The comment can be displayed as a column in the Orders tab in the Trading window. Support for comment fields are subject to trading provider restrictions.

Cross Orders

A cross order is an order that is settled at the broker’s office (a specific case of an off-floor trade) and is only available to internal users. When selected, the New Order dialog changes to include show fields for Buy Portfolio, Buy Client RefID, Sell Portfolio, Sell Client RefID. In addition the Buy and Sell buttons are replaced by a CROSS! button.

Conditional Orders/Monitor Orders

The program supports entering conditional orders. These are orders that will not be active in the market until one or more conditions are met. Press the Condition button to display the Edit order conditions dialog.

Support for conditional orders are subjected to trading providers and market feed restrictions.

You can enter one or more conditions to be met before your order is activated in the market place. The available condition fields and operators may vary, but typically includes fields such as Last, Bid, Ask, Bid Size, Ask Size, Last Volume and Time and operators such as Less than or Equal and Larger than or Equal. In the value column you enter the value or time you want to test against.

If you enter more than one condition, all conditions must be fulfilled (AND) or any one the conditions must be fulfilled (OR). Support for conditional orders is subject to the trading system and market regulations.

Support for conditional orders are subject to trading provider and market feed restrictions.

Client/Asset Manager/Broker

If the trading serviced is configured for it, Infront will display a list of clients, asset managers and brokers in addition to the list of portfolios when entering a new order. The list of available clients is determined by the permissions of the trading login.

The selected client name determines the list of available asset managers and portfolios. The selected client and portfolio determines the list of available brokers.

To support this feature there are now also new Client, Asset Manager and Broker columns that can be added to the Orders and Trades lists in the Trading window and to the Basket Trading window. The Edit Basket Trading Order window has also been extended to support these new fields.

Slice Orders

Slice orders are used to send a number of orders on the same symbol as a logical entity. There is a parent order with a total volume and child orders with sub volumes, adding up to the total volume. So the parent order is sliced up into child orders. Each child order can have different details like volume, price limits, order type, target broker an so on.

In the New Order window, click the bottom [+] icon or the Split Order label to create a new child order (total volume needs to be set first).

You can remove a child order by clicking the red [X] button at the right side. Each child order can be expanded to see the more advanced fields by clicking the blue [+] icon in front of it.

By default the sum volume of the child orders must match the total volume of the parent order. In some cases, the user would like to enter a parent order with a larger total volume than in the child orders. To enable this mode, check the [X] Allow partial parent orders setting in the Tools | Trading settings dialog

Parent/Child orders

The Trading window shows the list of active (and configurable executed and deleted) orders. The Orders page can now be configured to show Parent orders the Child order belonging to them grouped together in the grid. To do this, select Parent Child from the Layout drop down.

Add Child Order

If you have a parent order with a total volume that is larger than the sum of the volume in the active child orders, you can now add additional child orders to it. Right click the parent order and select Add Child Order.

This will open an Add Child Order window where you can enter the details of a new child order. The child order volume may not exceed the remaining total volume of the parent order.

The new child order will appear belonging to the initial parent order.

Request for Quote

Request orders are normally used in non-volatile markets, when the user wants to request a bid and/or ask quote. When selected, the New Order dialog changes to only enable the Volume field, changes the buttons to Both, Bid and Ask.

Quote Request orders are used only in some markets. You can file a request for a price quote from a bank/broker on an instrument and a certain volume, and you get a response with a price and a limited time to accept or reject the offer.

The Request Quote is available in the New Order window when the market is configured to support it. This is subject to configuration at your trading provider. You can enter a volume and then press the Bid button to get a bid quote (if you want to sell), the Ask button to get an ask quote (if you want to buy), or the Both button to get both a bid and an ask quote.

Depending on your provider, you may get a time limited quote back. Then a Quote Offer window pops up, showing you the Symbol, Portfolio and Volume that you entered. Below there are fields with the ask and/or bid offer in price and total value (price multiplied by volume). Next to each quote offer is a Buy and Sell button. Press one of these before the timer runs out if you want to accept the offer. Press Cancel (or wait for the timer to expire) to reject the offer. At the bottom of the Quote Offer window is a timer displayed as a declining progress bar - when the bar reaches zero, time has run out and the offer is automatically withdrawn.