16.2 Trade Manager

The Admin privilege on OpenEx platform is reserved for Administrators exclusively. Regular users and view-only administrator won’t be able to access the Admin functions listed under the Admin menu from the menu bar. Admin accounts can exercise admin privilege only over its designated domain.

The Trade Manager provides four functions, Reject, Execute, Bust and DoneAway, to manage orders and executions. To invoke it, go to the menu bar Admin -> TradeManager or click on the toolbar icon (as Figure 16.2.1).

Figure 16.2.1

More conveniently, users can invoke the Reject and Execute functions by right clicking on an open order in the Order tab of the Order Window and then select from the drop-down menu (as Figure 16.2.1.a). Doing so will have the Reject or Execute form automatically populate with all the relevant order information. Users can also invoke the Bust and DoneAway functions by right clicking in the Execution tab of the Order Window (as Figure 16.2.1.b).

Figure 16.2.1.a

Figure 16.2.1.b

Reject

When the Administrators want to reject an invalid order or decline an order sent from a user, use Reject function as Figure 16.2.2. For example, to reject the Buy MSFT 1000 at 56 Order from User OPX1 Order ID 2, simply type in that order in the Reject box and click OK. Please note that the Order ID must be input correctly to the Reject box to carry out the intended task.

Figure 16.2.2

Execute

When the Administrators want to execute an open order fully or partially, use the Execute function as Figure 16.2.3. For example, to fill the order Buy MSFT 1000 at 56 Order from User OPX1 Order ID 2, simply type in the execution information in the Execute box and click OK. In this case, the execution is a partial fill of 800 shares at 55.95. Please note that the Order ID must be input correctly to the Execute box to carry out the intended task.

Figure 16.2.3

Bust

To bust (meaning undo) an execution, use the Execute function as Figure 16.2.4. Administrators need to do this from time to time when an execution is filled erroneously and the exchange or contra parties demand a trade bust. For example, to bust the execution Bought CSCO 600 at 14.84 Order from User OPX1 on behalf of Account Jay1 Order ID 4, simply type in the execution information in the Bust box and click OK. Please note that the Order ID, Quantity and Price must be input correctly to the Bust box to carry out the intended task.

Figure 16.2.4

DoneAway

To report an execution done away from the OpenEx system, use the DoneAway function as Figure 16.2.5. This is necessary when a transaction is done over the phone and subsequently needs to be reflected on the account on OpenEx. For example, to report a doneaway trade of Bought QQQ 500 at 30 Order from User OPX1, simply type in the execution information in the DoneAway box and click OK. Please note that the Order ID for DoneAway trades must be 0.

 Figure 16.2.5