Default Quantity Overview

The default quantity is an instrument-type specific quantity configurable from the Order Entry configuration that will be set as the quantity for an Order Request generated by a mouse click.  

The Place Order Speed Key Quantity will override the default quantity under normal circumstances.

The default quantity and speed key quantity can be overridden by the Quantity Override feature.  A Quantity Override is a feature within the  Market Maker and Market Depth function windows.

To enable Quantity Override, press the '\' key and type a new quantity into the Quantity field. and then press Enter to save the new quantity.

Perform one of the following within the Market Maker or Market Depth windows to disable Quantity Override:

• Press the '\' key and then press Enter (without typing any digits)

• Right-click to view the pop-up menu and then click "Enable quantity override" to clear the check mark
   

To re-enable the default quantity override, simply reenter a number or check the "Enable quantity override" option.  Initial value for the quantity override is the default order entry quantity.  The default quantity is reset every time a new symbol is entered into the Market Maker or Market Depth function windows. Optionally, it can also be reset to the default after every Order Request by checking the "Reset Quantity on Order Load/Placement" option.
 

After processing an order load event (and applying the above modifications to the size) you have an order and an initial quantity.  Now this value can be affected by the Use Position feature.  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:

1. Size of the entire position

2. Smaller of entire position or maximum order entry quantity for that instrument

3. Smaller of entire position or default order entry quantity for that instrument

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

NOTE: The modification will be made after the convert intention modification has been applied to the order request.

Here is a rough flow chart to better explain the above:

1.  Determine Initial Quantity

     Speed Key? -> NO -> Quantity Override? -> NO -> Use Order Entry default (depends on instrument type)

           |

          V

         YES -> Quantity Override? -> NO -> Use Quantity In Speed Key

                    |

                   V

                  YES -> Use Quantity Override Value

2. Apply the Convert Intention modifier (if enabled)

3. Determine position limit depending on the Use Position type (depending on the use position 'mode' see above).

4. Apply the Use Position modifier (if enabled):

    Use Position? -> NO -> Use Initial Quantity (determined in step 1)

        |

       V

       YES -> Has Position? -> NO -> Use Initial Quantity

                 |

                V

               YES -> Position Long and Intention Sell To Close?  -> YES -> Use Min(position, position limit from 3)

                                     |

                                    V

                                    NO -> Position Short and Buy To Close? -> YES -> Use Min(position, position limit from 3)

                                                        |

                                                       V

                                                       NO -> Use Initial Quantity