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System Overview Part 6

SECTION 6: MARKET SETTLE

MARKET ORDER SETTLE

CixTrader_Figure81_OpenPositionsPanel

Figure 81 - Open Positions Panel

A Market Settle box will pop up requesting the information for the Market Settle order.

 

  1. Choose the Lot Size to settle.
  2. Click the “Submit” button to continue.

To carry out a market settle on an open position, users need to:

  1. Click the “Settle” button next to the product that needs to be settled in the Open Positions Panel .
CixTrader_Figure82_MarketSettle

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.

CixTrader_Figure83_ConfirmMarketSettle

Figure 83 - Confirm Market Settle

Click the “OK” button to confirm  the market settle.

CixTrader_Figure84_MarketSettleReply

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.

CixTrader_Figure85_OrderEntryPanelWithCloseBuyOrdersOptionAvailable

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.

CixTrader_Figure86_MarketOrderpng

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.

CixTrader_Figure87_ConfirmMarketOrderpng

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.

CixTrader_Figure88_MarketOrderReply

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.

CixTrader_Figure89_MarketSettleForAnOpenPositionWithALimitOrder

Figure 89 - Market Settle for an Open Position with a Limit Order

CixTrader_Figure90_CombineSettleForOpenPositionsWithALimitOrder

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.
CixTrader_Figure91_CustomReduceLimitSettle

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”.)