Placing a Spread Order on the DOMTrader

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Tracy Maxwell
8 years ago
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1 Trading Spreads Once you have the spread set up, you can place a spread order in the same ways nonspread orders are placed. For instance, you can drag and drop on the DOMTrader or use buy and sell buttons on the Order Ticket. TIP: If you have a DOMTrader or Order Ticket for one of the spread legs open, you can place non-spread orders for that symbol on that DOMTrader or Order Ticket. For example, you re working CLE-ET. You have three DOMTraders open: CLE-ET, CLE, and ET. The CLE and ET DOMTraders display the legs for the spread order. You can place another order for CLE on the same DOMTrader, even though that order is not part of the spread. In this way, you can add stop orders to a leg for added protection. Use the spreads button to show and hide non-spread orders. 1

TIP: If you have a DOMTrader or Order Ticket for one of the spread legs open, you can place non-spread orders for that symbol on that DOMTrader or Order Ticket.

Use drag and drop or the buy and sell buttons to place the order. 4.

2 Placing a Spread Order on the DOMTrader 1. Enter the spread symbol on the DOMTrader. It s best to do this using a QFormula. The background color of the DOMTrader changes. 2. If you have not already done so, set up the spread. 3. Use drag and drop or the buy and sell buttons to place the order. 4. If you have confirmations enabled, a message like this is displayed: For iceberg orders, enter the visible size: 5. Change or confirm the parameters, and click Place Order. The DOMTrader and Orders and Positions window display your order. To quickly change the working leg and completion order type, use the working leg menu and the complete spread menu. 2

3 Placing a Spread Order on the Order Ticket 1. Enter the spread symbol on the Order Ticket. It s best to do this using a QFormula. The background color of the Order Ticket changes for each spread. 2. If you have not already done so, set up the spread. 3. Click the buy or sell button to place the order. 4. If you have confirmations enabled, a confirmation message is displayed. Change or confirm the parameters, and click Place Order. 3

If you have not already done so, set up the spread. 3. Click the buy or sell button to place the order. 4.

4 Viewing Spread Orders Once you place your order, it s displayed on the DOMTrader. Hover your mouse over the spread order icon (S for spread and L for spread leg) to see order information. Click the spreads button to show and hide non-spread orders. The Strategy Manager also displays order details. Hover your mouse over the spread icon for a full transaction history. 4

information. Click the spreads button to show and hide non-spread orders.

5 Viewing a Fill Report Once the order is filled, you receive a fill report (depending on preferences): 5

6 You can open a fill report by clicking the Fill Report button on the trading application toolbar. You can also click the More button on the CQG IC toolbar and then click Fill Report. Fills are color-coded according to the color of each spread. So, after several orders have been filled, the fill report looks something like this: 6

You can also click the More button on the CQG IC toolbar and then click Fill

7 Managing Spreads Spread orders are managed in the same ways non-spread orders are managed. They can be modified or cancelled using any trading application. Management of spread orders goes beyond modifying and cancelling though, as spread strategies introduce the possibility of incomplete orders. CQG provides ways for you to manage those incomplete orders before they happen through parameters. If an incomplete order should occur, you can manage it from the Incomplete window on the Strategy Manager and from the Quote SpreadSheet. Traders should also be aware of potential overfills. Being aggressive and working multiple legs may be beneficial, but there is a higher chance of being overfilled if the market is swept. 7

CQG provides ways for you to manage those incomplete orders before they happen through parameters.

8 Strategy Manager CQG has incorporated a Strategy Manager into the Orders and Positions window. Click the Strategy Manager tab to display your spread orders. The Strategy Manager has standard tabs for working, filled, cancelled, excepted, and all orders. Hover your mouse over an icon to see a tooltip with order details: 8

The Strategy Manager has standard tabs for working, filled, cancelled, excepted,

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10 The icons indicating spread (S) and leg (L) are color-coded according to the spread color. Click the arrow buttons on the left to expand and collapse the spread orders to show and hide the spread legs. The Strategy Manager includes a window for incomplete orders. The Incomplete tab blinks when an order has been added to that window. Also, if you have the Orders and Positions window open, focus moves to that window when an incomplete order is added. You can set Notifications preferences, so that a sound is made when an order becomes incomplete. If you have set up incomplete order parameters, the system will work the order for you according to those parameters. Otherwise, you can work the incomplete order yourself. 10

The Incomplete tab blinks when an order has been added to that window.

Spreads on the Quote SpreadSheet The Quote SpreadSheet (QSS) includes an INCPLT (incomplete) field to enhance the Orders and Positions QSS for spread trading.

TIP: Even if you are not trading directly from it, the QSS is a helpful tool for managing incomplete orders.

11 Spreads on the Quote SpreadSheet The Quote SpreadSheet (QSS) includes an INCPLT (incomplete) field to enhance the Orders and Positions QSS for spread trading. It blinks when an incomplete order occurs. If you would like to see synthetic spread positions in the Pos field, make sure that option is selected in Trading Preferences. TIP: Even if you are not trading directly from it, the QSS is a helpful tool for managing incomplete orders. Link the QSS to the DOMTrader (or the trading application you re using making sure the QSS is the parent window. If an incomplete order occurs, click the INCPLT field on the QSS to go directly to the DOMTrader for the leg that s incomplete. 11

If the button is not displayed, then click the More button, and then click DOMTrader.

If the button is not displayed, then click the More button, and then click DOMTrader. DOMTrader Market transparency is vital for trading on the electronically-traded futures markets. CQG s DOMTrader provides that market transparency as well as the order routing functionality traders need.