Depth Ticket
Table of Contents
1. Introduction
1.1 Purpose
This document provides an overview of the SILEXX OEMS Depth Ticket or Level 2 Module. The Depth Ticket or Level 2 is a widely utilized module within the SILEXX OEMS Platform. Therefore, our intent here is to provide you guidance, on both basic and advanced functionalities.
2. Depth Ticket Basics
2.1 Launching a Depth Ticket
A Depth Ticket can be opened from any of the following places:
- Main Screen
- Order Ticket
- Quote Board
- Option Chain
2.2 Launching a Depth Ticket from the Main Screen
Launching a Depth Ticket from the main screen will open a blank ticket.
- Click Modules
- Select Depth Ticket
2.3 Launching a Depth Ticket from the Order Book
In the "Working Orders" grid area:
- Right-click anywhere in the row of working order
- Select Open (security) in Depth Ticket
This will open a Depth Ticket populated with the same underlying symbol and account number.
In the "Filled Orders" grid area:
- Right-click anywhere in the row of filled order
- Select Open (security) in Depth Ticket
This will open a Depth Ticket populated with the same underlying symbol and account number.
Additional order details (price, quantity, etc.) will need to be filled out before the order can be placed.
2.4 Launching a Depth Ticket from the Quote Board
In the "Quote Board" area:
- Right-click anywhere in the ticker row
- Select Open (security) in Depth Ticket
This will open a Depth Ticket populated with the same underlying symbol and account number.
Additional order details (price, quantity, etc.) will need to be filled out before the order can be placed.
2.5 Launching a Depth Ticket from the Option Chain
In the "Option Chain" area:
- Right-click anywhere in the ticker row
- Select Depth Ticket
This will open a Depth Ticket populated with either a Call or Put option with a strike price of the selected strike row. The current active account will also be populated in the ticket.
Right-clicking a column that begins with a lowercase "c" (e.g. cAsk) will populate the Depth Ticket with the Call option of the selected strike.
Right-clicking a column that begins with a lowercase "p" (e.g. pBid) will populate the Depth Ticket with the Put option of the selected strike.
Additional order details (price, quantity, etc.) and account information will need to be filled out before the order can be placed.
3. Reading the Quote Information on the Depth Ticket
The Depth Ticket displays live quote data for the security entered into the ticket.
| Settings | Description |
|---|---|
| Open: | Open Price of the day |
| High: | High price on the day |
| Low: | Low price on the day |
| Vol: | Total number of shares or contracts traded on the day |
| Last: | Last trade price |
| (Bid x Ask): | Current NBBO Bid and Ask pricing. (Live quotes during market hours) |
| Net: | Net dollar change in price from the open price on the day |
| %: | Percent change in price from the open price on the day |
Grid Column Information
| Settings | Description |
|---|---|
| MMID: | Market Participant Identification |
| Bid: | Bid price |
| Ask: | Ask price |
| S: | (###) Aggregate Book display size (in 100's; i.e. 15 = 1500) |
4. Time and Sales
The Depth Ticket includes a Time and Sales window which displays a running list of trade executions for the selected symbol. The data feed will begin populating as of the time that the Time and Sales window is opened and will reset if the window is closed.
Time and Sales Panel activated view
| Settings | Description |
|---|---|
| Time: | Time of trade execution |
| Exg: | Exchange on which the trade was executed |
| Price: | Price at which the trade was executed |
| Size: | Number of shares or contracts for the executed trade |
| Condition: | Exchange supplied trade condition flags |
5. Filling Out and Sending an Order via the Depth Ticket Module
In this section we will cover how to:
- Fill in the order details
- Send the Order
- Change a Working Order from the Depth Ticket
5.1 Order Details
| Settings | Description |
|---|---|
| Order Type: | -The types of orders supported are Limit and Market. |
| Route: | -Select the exchange route for the order |
| TIF: | -Time-in-Force |
| Day Day order | - Order will cancel at the end of regular trading hours |
| OPG Opening | - Enter a Market on Open (MOO) or Limit on Open (LOO) order |
| IOC Immediate Or Cancel | - Fill the order immediately at the limit price or cancel |
| FOK Fill Or Kill | - Fill the order immediately and completely or cancel |
| GTX | -Good Till Crossing |
| ATC At The Close | - Enter a Market on Close (MOC) or Limit on Close (LOC) order at the market close of the day |
| ETH Extended Trading Hours | - Enter the trade in pre or post market hours |
| GTC Good Till Cancelled | - The order remains active until canceled |
| Qty: | Quantity of shares or contracts to be traded. A default order quantity can be saved in SILEXX OEMS's Settings Menu. Manually type or use the arrows to change the quantity value. |
| Price: | Manually type or use the arrows to set the price value. |
| Reserve: | Limits how much of your order is displayed on the exchange Order Book (e.g. you want to place an order for 10,000 shares but only want to display 1000 on the order book). Check the box and enter the reserve quantity. |
| AON: | All or None. Check the box to place the order as an All-or-None order. The order will fill in entirety (no partial fills) or will cancel at the end of the trading day (option orders only) |
Tip: Clicking any quoted price on the main screen will populate the "Price" field with that value
Click the spyglass icon to populate the "Qty" field with the value equal to the number of shares or contracts existing in an open position for the active symbol. (Open position size is displayed in the lower right corner of the main screen of the Depth Ticket Window)
5.2 Sending the Order
The order placement controls will become active once the minimum required order details have been filled in.
Click to place a Buy Order
Click to place a Sell Order 
Click to place a Sell Short Order 
Click to place a Modify Order
Click to place a Cancel Order 
Right Click on the Cog Wheel Icon 
and select "Show Order Instructions Panel" this will allow you to modify Order Instructions.
Check the box and enter your approved locate code
Check the box and enter your approved Short code
An order confirmation window may appear after clicking the Send button.
Click Don't show this Dialogue check box to turn off order confirmations.
To toggle on/off order confirmations go to: File -> Settings -> Depth Ticket
In the "General" section check the box for Show Order Entry Confirmation
6. Depth Ticket Tips and Tricks
6.1 Quick Price Matching
Click any quoted price to populate the Price field with that price value.
6.2 Quick Lot Size Control
The Depth Ticket includes a number pad that allows you to quickly adjust the lot size of the Qty field.
-
Multiplier - Sets the base multiplier value. Manually enter a value or use the arrow buttons to adjust the value. Each consecutive button will multiply the base by 1, 2, 3, 4, and 5.
- Left click a multiplier button to populate the order Qty field with that value.
7. Hot Buttons
-
- Hot Buttons are available in an optional panel in the Depth Ticket and are created when Hot Keys are named. After creating a hotkey and selecting a name, it will appear in the Hot Buttons configuration window.
- Hot Button Setup Video