Placing an order onto the market is easy. There are a couple of ways to do this.
Enter A Single Order
To enter a single order simply double click on the product field which will immediately open the Order entry tool tip. Another way of doing this is by clicking once on the product field which will open a box asking if you would like to “Place an Order”.
Order Entry Tool Tip
- Select whether you would like to place a Buy or Sell order using the switch on the left. Note that if you open the tool tip by clicking on the Bid side of the Market Information window, “Sell” will automatically be pre-selected. Conversely if the tool tip is opened on the Ask side of the Market Information window, “Buy” will automatically be pre-selected.
- Select the order type
- Enter the order Quantity and Price
- Add an expiry time to the order. This will change the order state to “Expired” once past the expiry time. Once expired it is not possible to modify or re-activate the order.
- Label: This is not mandatory but a name can be given to the order which will be visible in “My Orders”
- Place either Buy or Sell order depending on the selection.
Identifying Own Orders
An order placed by you in the market will appear in bold and with coloured edges around the order cell if you have the best price in the market. Green is for Buy orders and red is for Sell orders.
If your order is not best price, the coloured edges will fade and the order at the top of the market will not appear in bold apart from the price.
Edit own order option can be activated from any place in the trading client where your order is displayed. That is the My order window, Market Info Window and Order Depth window. Clicking on your order will activate a dropdown menu where you can select “Edit" order. Different options are displayed depending on where you click, but all allows you to edit the order.
- Click on Edit
- Amend order details in Order entry window
- Click on “Update Order”
Deactivate/ Activate an Order
There are On / Off switches within the My Orders window which allow the trader to de-activate the orders from the market or activate an inactive order to the market. De-activating an order will not permanently delete the order; it will remain in My Orders as an inactive.
To delete an order permanently select the order in My Orders and click “Delete”.
Make Best 'Bid/ Ask' Action
Clicking on your order in either Order Depth or in the Market Info Window will give you the option to make your order (Bid or Ask) the best order in the market.
Click in the Bid or Ask column for the order you want to amend. An action will pop up in the Action Menu, giving you the option to “Make best Bid” or “Make best Ask” depending on what column you clicked and whether you have an order in the order depth that is not best already. If you have multiple orders in an order depth your best order is automatically selected. Once you click on the action, your order is automatically updated, giving it the best price +0.1 or -0.1 depending on order direction.
To hit an order that is already active in the market, either double click on the order in the Market Information window or Order Depth, or click once on the order to open a message which will ask you to “Match Bid” or “Match Ask”.
- An Order entry window will appear on screen with the pre-filled order requirements
- To match the entire volume, select “Place Sell / Buy”
- To match part of the volume, amend the quantity and select “Place Sell / Buy”
Select the instrument on screen to match either Bid or Ask:
Confirm order details in Order entry window and place order:
Match multiple orders from the Order Depth by clicking the order at the level you want to fill.
This will pre-populate the order management window with the price and amount that is needed to fill all the orders.