SECTION 6: MARKET SETTLE
MARKET ORDER SETTLE
Figure 81 - Open Positions Panel
A Market Settle box will pop up requesting the information for the Market Settle order.
- Choose the Lot Size to settle.
- Click the “Submit” button to continue.
To carry out a market settle on an open position, users need to:
- Click the “Settle” button next to the product that needs to be settled in the Open Positions Panel .
Figure 82 - Market Settle
A Market Settle box will pop up requesting the information for the Market Settle order.
2. Choose the Lot Size to settle.
3.Click the “Submit” button to continue.
Figure 83 - Confirm Market Settle
Click the “OK” button to confirm the market settle.
Figure 84 - Market Settle Reply
Click the “Close” button to dismiss the reply box.
COMBINE SETTLE
If users click on the Bid or Ask price of a particular product on the quote panel that already has an outstanding open position for, when the order entry panel opens, users will be given an extra option. Users will be given an option to Close Buy Orders or Close Sell Orders, to do a liquidation of the outstanding open positions.
For example: A user clicks on the Bid button on the quote panel for the product USDCHF, but already has an outstanding open position for the same product.
Figure 85 - Order Entry Panel with Close Buy Orders option available
When the order entry panel appears, the “Close Buy Orders” button is no longer greyed out, the button can now be clicked.
Figure 86 - Market Order
The user now needs to:
1.Enter the Lot Size of Market Open Sell (or leave blank for none).
2.Choose the Settle Size (between 1 and the Outstanding Size).
3.Click the “Submit” button to continue.
Figure 87 - Confirm Market Order
The system will confirm the order with the user.
Click on the “OK” button to continue and the system confirms the success with a reply, click on the “Close” button to dismiss the reply box.
Figure 88 - Market Order Reply
MARKET ORDER SETTLE AND CUSTOM REDUCE ITS LIMIT SETTLE ORDER
When users try to settle an open position that already has a limit settle order placed on it, it is possible that the desired settlement size would cause an insufficient remaining lot size to cover the limit settle order that is already in place.
When this occurs, users need to choose for the system to automatically reduce the order size or to reduce the order size manually.
Figure 89 - Market Settle for an Open Position with a Limit Order
Figure 90 - Combine Settle for Open Positions with a Limit Order
When settling an open position that already has a limit settle order placed on it, users will get two choices:
- Auto Reduce: The system will automatically choose how to reduce the limit settle orders on the open position.
- Custom Reduce: Users will be allowed to manually choose how to reduce the limit settles orders on the open positions after clicking the “Submit” button.
Figure 91 - Custom Reduce Limit Settle
The custom reduce panel allows users to reduce the size of the different limit orders on that particular product, however, the reduce size total must be equal to the amount instructed by the system. (i.e. fig. 91 “The total reduce size should be 2”.)
