Order Entry Preferences - Equities - Trading

Use the Equities - Trading dialog to set the default settings for regularly used values and order execution selections when placing Equity orders. This section will provide the flexibility in setting the preferences for regular session, outside regular session, quantity, and price. In addition, you will be able to enable short selling from the order bar as well as set the preferences for the OCO/OSO settings.

 Access using the Desktop File > Preferences > Order Entry menu sequence and select Equities > Trading.

Regular Session  

Controls the default settings for the regular session that is used in the Trade Bar for equities orders. This section is used to specify default values that are inserted into the matching Trade Bar fields when you click Default on the Trade Bar or when the Trade Bar is first created. 

For windows containing trade bars, the default settings apply when a window is created. You can choose the default values for the Order Type, Route, and Duration fields.

Outside Regular Session

Controls the default settings for outside regular session that is used in the order bar for Equity orders. This section is used to specify default values that are inserted into the matching Trade Bar fields when you click Default on the Trade Bar or when the Trade Bar is first created. 

There are one set of defaults for the Regular Session and another set for Outside Regular Session with the ability to select the time to automatically switch to the appropriate defaults at a specified time (based on exchange time).

  • Order Type - Select the order type that will be displayed in the Order Type field of the Trade Bar when Default is clicked.  
  • Route - Select the order routing value that will be displayed in the Route field of the Trade Bar when Default is clicked.
  • Duration - Select the order duration that will be displayed in the Duration field of the Trade Bar when Default is clicked.

Quantity

Controls the default settings for the quantity values used in the Trade Bar fields when the Trade Bar or associated window are first created. These values will not automatically change when the Trade Bar are updated or when switching from regular to outside regular sessions.   

  • Fixed Shares(#) - Select to specify that the order quantity will represent the number of shares for the order.
  • Dollars per Trade($) - Select to specify that the order quantity will represent the approximate currency value of the order. The number of shares to purchase is calculated based on the current bid/ask price. For Equities orders, odd lots are not permitted so the calculation of shares will round up or down based on the Always Round setting (see below).
  • Amount - Type the value (shares or currency) that determines what will be displayed in the Quantity field of the Trade Bar when the Default button is pressed or when the Trade Bar or Matrix window is first created. You can also use the Amount arrow buttons, and to increase or decrease the value. Separate values may be entered for shares and currency.
  • Increment - Select an increment value from the drop-down list for the amount (shares or currency) to increase or decrease each time you click the Trade Bar Quantity arrow buttons, and . Separate values may be entered for shares and currency.
  • Acceleration - Select an acceleration value (shares or currency) from the drop-down list for the amount that you want the quantity to increase or decrease when you select the Trade Bar Quantity arrow buttons. Separate values may be entered for shares and currency.
  • Always round - Select the method to use for rounding the calculation of lot increments.

Price

Controls the default settings for the price values used in the Trade Bar fields when the Trade Bar or associated window are first created. As with the Quantity section, the values will not automatically change when the Trade Bar are updated or when switching from regular to outside regular sessions.

  • Increment - Select an increment value from the drop-down list for the amount that you want the value in the Limit Price box and/or the Stop Price box to increase or decrease each time you click the arrow buttons, and .
  • Acceleration - Select an acceleration value from the drop-down list for the amount that you want the price to increase or decrease when selecting the arrow buttons.

Short Selling  

Controls the Sell Short and Buy to Cover buttons located on the Trade Bar.

  • Enable Short Selling - Check this setting to make the Sell Short and Buy to Cover buttons available on the Trade Bar.

OCO/OSO Settings

The Preferences button controls the OCO/OSO Preferences dialog for Equities, Options, and Futures. This includes customizing the OCO/OSO template settings.

 Click OK to apply changes or Cancel to exit without changes.

Related Topics

Setting Order Entry Preferences

About Trade Bar