This document provides an overview of the SILEXX OEMS Basket Trade Module. Therefore, our intent here is to provide you guidance, on both basic and advanced functionalities.
SILEXX OEMS's Basket Trader allows you to build and save trading lists, which are simply lists of orders (basket) that you compile, edit, and save. Both single and multi-leg orders are supported in the Basket Trader module. When you are ready to send the orders in a basket, you may do so either in full (entire basket) or selectively (partial basket) with ease.
In this manual we will cover how to:
From the Main Screen
A trading basket is simply a listing of orders that can be compiled and sent at your discretion. When the Basket Trader is opened it is blank and ready to be populated with orders.
The trading basket can be populated in the following ways:
In the Order Entry section of the Basket Trader module, you may manually enter order details just as you would on a basic Order Ticket.
|Account||Select the account in which the trade will be placed (multiple accounts can be listed in a single basket)|
|Symbol||Type the symbol for the security to be traded.|
|Action||Enter the order as a Buy, Sell, or Sell Short order|
|Type||The types of orders supported in the Basket Trader are: Market and Limit|
|Qty||Quantity of shares or contracts to be traded. A default order quantity can be saved in the Basket Trader's default settings menu. Manually type or use the arrows to change the quantity value|
|Price||Set the price for Limit orders. Manually type or use the arrows to change the price value|
|TIF||Select the Time-in-Force|
|Route||Select the route for the order|
When completed, click the Add button to add the order to the basket.
Orders that are added to a Basket Trader are not yet live orders, they are simply held in the basket until they are either sent or removed.
The Basket trader supports drag and drop population from both the Option Chain and Quote Board modules.
Left-click the row of the security, in either the Option chain or Quote Board module, that you want to add to Basket trader and drag it to the Order Entry section or the lower blank area of the Basket Trader.
Be sure to verify and edit the order details as needed.
From the Option Chain: Dragging from the Bid price (call or put) sets the order type as Sell Dragging from the Ask price (call or put) sets the order type as Buy
From the Quote Board: Order type will default to the Action type selected in the Order Entry section of the Basket Trader
Drag a security on top of another security in the basket list to create a multi-leg (MLEG) order.
Click the cell of the field that you want to modify for an order to change that parameter. Depending on the field, you will either need to type a numeric value (or click arrow buttons) or select from a drop-down menu.
Orders that are not currently working live can be removed from the trading basket in the following ways:
If you want to exclude an order from being sent, but not remove it entirely, uncheck the Active checkbox for that order. The unchecked order will not be sent when the basket is submitted and will remain in the basket with a "Locked" status.
The order duplication function creates an exact copy of an order that is currently in the Basket Trader.
Duplicating orders on the basket takes a lot of the work out of creating redundant orders (i.e. you want to place the same order in multiple accounts).
This feature is also useful to create a copy of an order that can no longer be sent from the Basket Trader (i.e. canceled, rejected, filled, etc.). Simply create a duplicate of the order and it will be ready for editing and sending.
Click the Save Basket button to save the current compiled Basket Trader contents to a file that can be loaded as needed. The file is saved with a name (.bsk extension) to a folder on your computer that you specify.
|Save ALL Basket Items||Save the entire basket to a file|
|Save Unsubmitted Basket Items||Save to a file only those orders in the basket that have not been submitted|
|Save Submitted Basket Items||Save to a file only the orders in the basket that have been submitted|
There is no limit to the number of baskets you can save.
Once you have a basket file saved, you can load it again at any time.
If you have live working orders in your basket and re-load the basket from a basket file, the live working orders will stay visible in your basket.
In the above example the basket will group based on Symbol.
The data displayed on the Basket Trader spreadsheet can be customized by adding / removing, resizing, and re-ordering columns.
|Cancel||Click to cancel a specific working order sent from the Basket Trader|
|Done||Indicates the order is done working|
|Locked||The order is locked out from sending|
|Out||Indicates the order is out of the market (no longer working)|
|Send||Click to send a specific order|
|Account||Account in which the order will be placed|
|Action||Order action: Buy, Sell, or Sell Short|
|Active||Checked is active; unchecked is inactive (send order is locked)|
|Ask||Ask price of the security or MLEG combo|
|Avg. Px||Average price of the filled quantity of a working order|
|Bid||Bid price of the security or MLEG combo|
|Bid x Ask||Bid and Ask prices of the security or MLEG combo|
|Delete||Click the X in this column to delete a security from the Basket Trader|
|Description||Description of the security or MLEG combo|
|Filled #||Number of shares or contract that have been filled on the order (partial fill)|
|Last||Last trade price|
|Price||Order Limit price (labeled MKT if order type is Market)|
|Qty||Order quantity represented with two components: (filled/total working)|
|Status||Status of the order|
|Symbol||Symbol of the security|
|TIF||Time in Force|
|Total #||Total number of shares or contracts associated with the order|
|Type||Order type (types supported in Basket Trader are Market and Limit orders only)|
Orders created in the basket trader can be sent in the following ways:
Orders created in other modules will not show in the Basket Trader
Working Orders that are shown in the Basket Trader and modified in the Order Book will have the changes reflected back accordingly.
Click the Submit All button to send all applicable orders in the basket.
A confirmation window appears by default.
Orders can be submitted individually through the Basket Trader.
In the "-" column, click Send to send just that selected order.
A confirmation window may appear.
Order confirmation can be turn off in the Basket Trader default settings menu.
Orders that are in a Locked state are either missing instructions or are not active. If you want to send a locked order, check that the order is filled out in entirety and that the checkbox in the Active column is checked.
In most instances the field causing the lock is highlighted, such as:
Activating / Deactivating Orders
Individual orders can be locked out from being sent using the Active checkbox. Unchecking the box in the Active column for an order will lock it from being sent individually and will also exclude that order from being sent when the Submit All button is used to send the basket.
Right-click any row in the basket to bring up a menu that allows you to Check All or Uncheck All boxes
Basket orders are sent as a sequence of individual orders, not as a single, all encompassing, order. It is possible that a portion of a sent basket of orders may be rejected if the associated account(s) exceed set risk, clip size, and/or buying power limits.
Right-click any row in the group you want to send and select Send all Orders in Group.
Example: The following basket is grouped by Symbol and we want to send all orders for IBM stock only.
This will send only those orders associated with the selected group.
A confirmation window appears by default.
Click the cell of the field that you want to modify for the working order and either type the new value or use the arrow buttons to adjust up or down. Press enter on your keyboard or click to a different area of the module to accept the change.
|Fields available for modification are as follows:||Field||Description|
|Single-leg orders||Price and Quantity|
Working Orders that are modified in the Basket Trader will also reflect on the Order Book and vice versa.
Working orders that were sent through the Basket Trader and that remain in a working state can be canceled through either the Order Book or the Basket Trader as follows:
Click Cancel in the "-" column
Click the Cancel All button to cancel all live, working orders that were sent from the current active Basket Trader.
This will not cancel any other working orders in the Order Book that were created in modules other than the current active Basket Trader.
A confirmation window will appear by default.
Basket Trader Default Settings
|Account||Select a default account for which to always populate the Account field when opening a new Basket Trader|
|Show Order Entry Confirm||Always prompt for Order Confirmation when an individual order is sent. (Confirmations for Submit All and Submit Group Order cannot be turned off)|
|Default stock order quantity||Enter a value for which to always populate the "Qty" field for dropped in stock orders|
|Default stock route||Select a route for which to always populate the "Route" field for dropped in stock orders|
|Default option order quantity||Enter a value for which to always populate the "Qty" field for dropped in option orders|
|Default option route||Select a route for which to always populate the "Route" field for dropped in option orders|
|Default future order quantity||Enter a value for which to always populate the "Qty" field for dropped in future orders|
|Default future route||Select a route for which to always populate the "Route" field for dropped in future orders|