Settings window - Order Entry tab

Field Name

Description

Hide Orders (if possible) check box

Some ECNs allow you to place orders that are 'hidden.'  When this option is enabled and use with a route that can support a hidden order, the order will not be seen in the
Level I panel, Market Maker, and Market Depth window views.

Place Proactive orders

When enabled, orders are sent to a selected ECN and filled from their book, any remaining shares are then routed by the ECN to other destinations.

Single Click Load check box

If enabled, you can click once on the bid or ask columns in the Market Maker window to place an order, otherwise you must double-click to place an order.

Use Default Route check box

Selects whether to use the default route selected in the Route drop-down list.

Use Inside Market check box

This option determines the price that appears in the Load Order Entry panel when the bid or ask side in the Market Maker window is clicked.

When this option is enabled, the best bid for sell orders and the best ask for buy orders will appear.

When this option is disabled, the price from the clicked row will appear.

Convert Intention check box

The convert intention function changes an order request as it is forwarded to the order entry system.  An order request can be forwarded by clicking on a bid or ask column in the Market Maker, Market Depth, Minder, or Blotter windows or via a place-order speed key.

When trying to forward a symbol with no position or the position is flat, the system will change a Sell To Close (sell) position to a Sell to Open (short) position

When trying to forward a short positions, the system will change the following:

• Buy To Open (buy) becomes Buy To Close (cover).

• Sell To Close (sell) becomes Sell To Open (short).

NOTE: Intentions will not be converted once loaded into an order entry window -- any explicit intention will not be overridden.  This means that when you explicitly click the sell button, you are placing a SELL TO CLOSE and not a SELL TO OPEN order.

Reverse Intention on Mouse Click Load

Use this option to select whether an order should be a buy or sell when clicking bid and ask columns.

When the "Reverse Intention on Mouse Click Load" is disabled:

Clicking on bid loads a SELL limit order
Clicking on bid while holding down ALT loads a BUY limit order
Clicking on bid while holding down CTRL loads a SELL market order
Clicking on bid while holding down CTRL and ALT loads a BUY market order

Clicking on ask loads a BUY limit order
Clicking on ask while holding down ALT loads a SELL limit order
Clicking on ask while holding down CTRL loads a BUY market order
Clicking on bid while holding down CTRL and ALT loads a SELL market order

When the "Reverse Intention on Mouse Click Load" is enable:


Clicking on bid loads a BUY limit order
Clicking on bid while holding down ALT loads a SELL limit order
Clicking on bid while holding down CTRL loads a BUY market order
Clicking on bid while holding down CTRL and ALT loads a SELL market order

Clicking on ask loads a SELL limit order
Clicking on ask while holding down ALT loads a BUY limit order
Clicking on ask while holding down CTRL loads a SELL market order
Clicking on bid while holding down CTRL and ALT loads a BUY market order

Disarm Embedded Order Entry After Order Placement check box

When this option is disabled, When using a speed key to populate the Order Load panels, the Buy/Sell/Short/Cover button used to make the last trade will still have focus. You can then continue to press the Enter key to place additional orders (using the same criteria).

Display at Most # Cancelled or Completed Orders Per Account (Restart Recommended)

Use this field to limit the number of cancelled or completed order (per account)that will appear in the Order Status window.

NOTE:

• This option is intended for administrator level users who are linked to multiple accounts, each with a large number of trades.

• When changing this option, it is recommended that you restart the application.

Use Position drop-down list

If a position for the traded instrument exists (a long position for a SELL TO CLOSE or a short position for a BUY TO CLOSE), the Use Position feature will modify the quantity of closing orders to be either:

• The size of the entire position

• Smaller of the entire position or maximum order entry quantity for the instrument

• Smaller or entire position or default order entry quantity for the instrument

• Smaller of entire position or initial quantity of the order size (either the override, default quantity, or the speed key quantity)

Load Order Entry drop-down list

Select where to forward orders. You can select from the following:

• Always - Always forwards the order to the Order Entry window

• Never - Forwards the order to the server

• Default - Forwards the order to the order entry window whether the order is or is not visible to the server.
   

Order Type Settings tabs

Equity tab

Click to change the default settings for equity orders.

Option tab

Click to change the default settings for options orders.

Future tab

Click to change the default settings for futures orders.

Quantity default settings:

Quantity drop-down list

Select the default order quantity type. You can select from the following:

• PART - partial order

• AON - All or nothing

Incr. field

Select the standard increment amount when clicking the up or down arrows for the Quantity field on the Order Entry window

Incr Alt: field

Select the increment amount when clicking the up or down arrows and holding the Alt key

Incr Shift field

Select the increment amount when clicking the up or down arrows and holding the Shift key

Incr Ctrl field

Select the increment amount when clicking the up or down arrows and holding the Ctrl key

Default field

Type the default amount that will appear in the Quantity field on the Order Entry window

Warn if Exceeds field

Type the maximum number of shares that you should be able to type into the Quantity field on the Order Entry window and Order Load panel. If you type more than this number, a warning dialog appears asking you to confirm the amount. Click here for more information.
NOTE: The amount set here is for a warning dialog only and will not change the maximum number of shares specified in your account.

Price default settings:

Price drop-down list field

Select the default order quantity type. You can select from the following:

• LMT - Partial order

• MKT - Market order

• MOC - Market on close

• STP - Stop order

• LMT - Limit Order

• MKT - Market Order

• MOC - Market On Close

• STP-MKT - Stop Market Order

• STP-LMT - Stop Limit Order

• TRL-STP - Trailing Stop Order

• PEG BID - Pegged Bid: Orders will peg to the same side of the NBBO (i.e a buy order at the bid and a sell order at the offer)

• PEG MID - Mid Pegged Order: Mid-Peg will peg an order to the mid-point of the NBBO

• PEG ASK - Pegged Ask Order

• PEG BID LMT - Pegged Bid Limit Order

• PEG MID LMT - Pegged Mid Limit Order

• PEG ASK LMT - Pegged Ask Limit Order

Incr field

Select the standard increment amount when clicking the up or down arrows for the Quantity field on the Order Entry window

Incr Alt field

Select the increment amount when clicking the up or down arrows and holding the Alt key

Incr Shift field

Select the increment amount when clicking the up or down arrows and holding the Shift key

Incr Ctrl field

Select the increment amount when clicking the up or down arrows and holding the Ctrl key

Warn if Exceeds field

Type the maximum number of shares that you should be able to type into the Price field on the Order Entry window and Order Load panel. If you type a higher price than specified here, a warning dialog appears asking you to confirm the amount. Click here for more information.
NOTE: The amount set here is for a warning dialog only and will not change the maximum number of shares specified in your account.

Warn if Of By %

Use this field, when placing Limit orders, to specify the maximum percentage ABOVE the ASK when buying and the maximum percentage BELOW the BID when selling. This option affects the amounts typed into the Price field on the Order Entry window and Order Load panel . If you type a higher price than the percentage specified here, a warning dialog appears asking you to confirm the amount. Click here for more information.

NOTES:

• The amount set here is for a warning dialog only and will not change the maximum price you can enter into the Price field.

• This option applies to LIMIT orders only.

• For after hours trading, Ultimate Trader uses the last trade price and does not use the current BID or ASK price.

Other default settings:

Display Qty

Select the Default display quantity for each order

GTD Days Forward

Select the default number of days for GTD orders to terminate

Route

Select the default route for order placement

Time In Force

Select the default Time In force. You can select from the following:

• DAY - Good for the Day

• GTC - Good Till Cancelled

• IOC - Immediate or Cancel: Any portion of an order that is not immediately filled is cancelled.

• OPG - Use OPG to send a market on open (MOO) or limit on open (LOO) order. Currently these order types are only supported for equities traded on AMEX and NYSE.

• RLD - Reloaded. A NYSE order that is time enforced and canceled and replaced.

Trailing Delta

Select the default trailing delta amount when placing Trailing Stop orders