Basket Trader

Basket Trader Module

1. Introduction

1.1 Purpose

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:

  • Launch the Basket Trader module
  • Create a trading basket
    • Add orders to the basket
    • Modify an order in the basket
    • Remove orders from the basket
    • Duplicate orders
    • Save and load baskets
  • Group, customize, and filter the basket data
  • Send orders from the basket
    • Send the entire basket
    • Send individual orders
    • Send select orders
  • Modify a working order
  • Cancel Orders
  • Set the Basket Trader Defaults

2. Launching the Basket Trader

From the Main Screen

  1. Click Modules
  2. Select Basket Trader

3. Creating a Trading Basket

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.

3.1 Adding securities to the basket

The trading basket can be populated in the following ways:

  • Manual trade entry
  • Drag and drop from an Option Chain
  • Drag and drop from a Quote Board

3.2 Manual Basket Entry

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.

Field Description
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.

3.3 Drag and Drop Entry

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.

3.4 Modifying a non-submitted order in the basket

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.

3.5 Removing orders from the basket

Orders that are not currently working live can be removed from the trading basket in the following ways:

  1. Click the X icon on the Delete column on the spreadsheet
  2. Right-click the row of the order and select Remove Order

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.

3.6 Duplicating Orders

The order duplication function creates an exact copy of an order that is currently in the Basket Trader.

  • Right-click any order on the basket and select Create Duplicate Order

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.

4. Saving and Loading Baskets

4.1 Saving a basket to a file

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.

Option Description
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.

4.2 Loading a basket file

Once you have a basket file saved, you can load it again at any time.

  1. Click the "..." symbol to the right of the field labeled Basket File:
  2. Select the basket file (.bsk extension) from the save location and click Open or double left-click the file name to load.

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.

5. Grouping the basket

5.1 How to Group the overall basket

  • The basket can be grouped through a drag and drop grouping function.
  • To form a group, drag a column header into the zone just below the Order entry zone.

In the above example the basket will group based on Symbol.

5.2 Column Customization

The data displayed on the Basket Trader spreadsheet can be customized by adding / removing, resizing, and re-ordering columns.

  • Basket Action Column
Field Description
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
  • Columns within Basket Trader:
Field Description
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)
Route Order Route
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)

6. Sending a Basket Order

Orders created in the basket trader can be sent in the following ways:

  • Send the entire basket of orders
  • Send an individual order
  • Send a select group of orders
  • Once an order has been sent, it will also appear in the Order Book.

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.

6.1 Sending the entire basket

Click the Submit All button to send all applicable orders in the basket.

A confirmation window appears by default.

6.2 Sending an individual order

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:

6.3 Sending selected orders from the basket

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.

7. Send Group Orders

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.

8. Modifying a Working Order

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
Multi-leg orders Price

Working Orders that are modified in the Basket Trader will also reflect on the Order Book and vice versa.

9. Canceling Orders

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:

9.1 Canceling Single Working Orders

Click Cancel in the "-" column

9.2 Canceling All Working Orders

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.

10. Basket Trader Default Settings

Basket Trader Default Settings

  • Click File on the main SILEXX OEMS screen
  • Select Settings
  • Select Basket Trader in the "Setting Elements" section

10.1 General Settings

Setting Description
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)

10.2 Stock Settings

Setting Description
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

10.3 Option Settings

Setting Description
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

10.4 Future Settings

Settings Description
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

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