Market Quotes/Execution Platform

The Market Maker Interface provides a unique sophisticated professional interface that provides participants’ access to the “Tools of the Trade”. They are able to choice either Equity or Fixed income interface, with panels for Open Positions, Order History and Account Balances. Limit Open orders are displaced under the Security and stay displayed till filled or cancelled. The Panel also allows speedy EXECUTION. Click on the Bid/Ask for market orders, click on Bid size/Ask size for limit orders.

Market Quotes/Execution Panel displays level I info: ticker symbol, bid size, bid, ask, ask size, last price, up/down tick, price change, volume and open position in each security. Sophisticated order execution allows market and limit order right on the screen. Fast easy execution that displays your open orders until filled or cancelled. For market orders participants click on the Bid/ask of the security they wish to sell/buy, choose the quantity they wish to trade and execute right on the Market Quotes/Execution Panel. For limit orders participants click on the bid size/ask size choose the price and quantity they wish to buy/sell and their order will be executed if/when the order becomes a market order. Meanwhile, an electronic ticket appears Green for a buy order and Red for a sell order. The electronic ticket disappears only if cancelled or filled. Securities are driven by news and market events that take place in real-time as the participants’ trade. Participants who react first to news and market events are filled at the best market prices (subject to the quantities offered). They also have the ability to “improve” market quotes by placing higher bids and lower asks. Executed market orders are shown in a window called time and sales which displays time, quantity and price of each transaction as it takes place. Participants are able to “evaluate” (profit/loss) in real-time their individual securities and portfolio(s) by clicking on a tab called “Position Analysis” (next to Market View or Fixed Income on the Market Quotes/Execution Panel). They can also view in real-time their executed order orders by clicking on “Order History” (next to Position Analysis on the Market Quotes/Execution Panel) and view their account balances by clicking on “Account Balance” (next to Order History on the Market Quotes/Execution Panel).

Market Maker interface also provides each participant with a list of each order they have place along with its status and details on the type of order, quantity filled …etc. Participants can monitor their account balances in real-time including cash remaining, commissions paid, market value of securities, net profit/loss, makes it easy to track your position in each security and even gives details on the profit and loss on each your outstanding positions.

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Second and Third Level of Information

The interface also displays Level II and Level III information. The default is Level III shows details of each and every open order (prices and quantities.), that can collapse to Level II showing total bid and offer sizes at each price.

Level II & III are tools that display market depth with details (both prices and quantities) being bid or offered in the market at any time. You can select which security the Level II or Level III by clicking on the security symbol on the Market Quotes/Execution Panel (if more two or more securities are trading)The Level II window will show you the five best bid and ask prices and what quantity is available at each level. Participants can use this information to decide what price to place their limit orders at or what price their market orders will likely be filled at.

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Previous Trades (Time/Price/Quantity)

Time & sales tracks each transaction in the market by displays the time, quantity and price of each transaction as it happens.

Time and sales information is displayed (tick data), each time a trade occurs; displaying the exact time, quantity bought or sold and the price displayed. The data appears in chronological order with the latest transaction appearing at the top of the window. The quote sheet window will also display the last transaction price in the “Last” field.

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Multi-Chart Panels

The charts window displays the historical price information as well as the volume. The participants can choose the type of chart to display, line, bar, candlesticks, OHLC…etc. The trading screen keeps track of the remaining time in each trading period, the value of the participant portfolio(s), and their remaining cash balance.

Participants can chart multiple securities in real-time and chart annotations, or use indicators to perform technical analysis. Charting includes candlesticks, OHLC, line, percentage change and yield curve functions. The charting window displays a chart of the currently selected security, to select a security just click on the symbol in the Market Quotes/Execution Panel. To change the see the chart just click on another symbol. There are three icons at the top of the charting window; Chart Type, Lower Indicator and Price Overlay. Clicking on the “Chart Type” icon allows you to change the chart type to a Line graph, OHLC chart, % Change, Yield Curve or Candlestick. The lower indicator icon allows you to change the type of information displayed below the chart. You can select Volume, RSI, Stochastics or William’s %R. The chart will also show you the last price that the security traded at.

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News/Analysis Panel

News & Alerts provides participants with critical decision making information. Participants may receive information regarding economic conditions, market or securities related new, changes to short term interest rates or financial statements. Participants can double-click on any headline to read the full body of the news article before making a trading decision. In simulations participants receive news which might affect the direction of the market. For instance they may receive information about changes in EPS forecasts for a stock or a decrease in the value of oil. To access news or an alert simply move your mouse over the item you wish to view and click once to open a window. When you are finished reading the message you can close the window. All news and alerts are sorted chronologically so that the newest item appears at the top of the window. This window also tells you which (if any) security the news or alert applies to (2nd field).

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Real-Time Yield Curve or Multi-Chart Panels

Fixed Income cases allow you to customize one of the Chart Panels to view the yield curve in real time.