Tag Archives: accounts

Trading Control

Trading Control

To link a Trader Logon with an Account, you must:

1. Enter the Trader Logon in the Trader field.

2. Enter the account to be linked in the Acct field.

3. Check the box for E: enable.

Optional: Check the box for S: solicit if you are placing orders on behalf of your client (for internal reference only).

4.  Check the box for T: Trade.

Optional: F: Feed Bill For future use.

5. You must select a Relationship: Located next to the T: Trade check box.

Owner – When the Trader and account holder are the same person.

LTA – Limited Trading Authorization on file.

Discretion – Traded with discretion by registered rep.

This is for internal reference but one must be selected.

6. Select Deals for equities, options, and futures trading. A commission Deal must be selected, Deal is for Equites, DealOp is for Options, and DealFT is for Futures.

7. CLICK COMMIT WHEN DATA ENTRY IS COMPLETE!

Other buttons:

Sorting: Allows sorting of all Account Link columns. To sort an entire column, left click on the column title, highlighting it. Click Sort. Repeat to sort in reverse.

Clr: Click to clear all fields for the purpose of filtering.

Filter: First clear data fields, then filter by Trader or Account.

Updating Equity and Buying Power

Admin view of BP/EQ Edit

BP and Equity: Left click on the row containing the account, bringing up the account info on the right side. Left click on the “…” button next to the BP/EQ field (circled in red above), opening the Equity window. Beginning values may be edited for Daily and Overnight buying power, and Equity. Current values may be viewed.

Admin view of BP/EQ Edit 2

Cash Accounts

 

Buying Power in cash accounts allows the trader to use their cash ONCE each day.

 

Withheld Buying Power for cash accounts is not replenished when an intraday (or overnight) position is closed.

 

Daily: Buying Power for cash accounts is displayed as FOUR TIMES the actual cash value. The system will divide that number by four. The front end user will see the actual cash amount in the Open BP column on their Account Manager, not the four times cash the Administrator sees. When Daily BP is edited for cash accounts FOUR TIMES the actual cash value must be entered.

 

Over Night: Buying Power for cash accounts is displayed as TWO TIMES the actual cash value. The system will divide that number by two. The front end user will see the actual cash amount in the Overnight BP column on their Account Manager, not the two times cash the Administrator sees. When OverNight BP is edited for cash accounts TWO TIMES the actual cash value must be entered.

 

Margin Accounts

 

Daily and OverNight Buying Power for margin accounts is displayed as the actual buying power. No adjustments need be made.

 

CLICK COMMIT WHEN DATA ENTRY IS COMPLETE!

 

Accounts

Accounts - Admin View

Creating Accounts

Enter data in the following fields, when creating a new account, make sure the greyed out box says New:

Acc: Enter the account number here.

Br#: Select a branch from the drop down menu.

Status: Next to Br#, select Open (can be traded) or Closed (cannot be traded). We recommend never deleting accounts.

 

Notice the person and location icons. You may enter Trader contact and address information here, but it is not necessary if you store this information in a separate back office system. Left click on the icon and while holding down the mouse button, drag the cursor over the information window and release the mouse button. Additionally, notes may be recorded in the empty white field on the right.

 

Sorting: Allows sorting of all Account List columns. To sort an entire column, left click on the column title, highlighting it. Click Sort. Repeat to sort in reverse.

Clr: Click to clear all fields for the purpose of filtering.

Filter: First clear data fields, and then filter by Account, Branch or Status.

 

Rrno: Registered Rep number

Acc Type: Next to rrno, for purposes of internal designation.

 

 

CLICK COMMIT WHEN DATA ENTRY IS COMPLETE!

Check Boxes

Margin: Check for Margin account, uncheck for cash account.

Training: Will make this account a paper trading account, the orders are not sent out. Only accounts beginning with TR can be designated as training accounts.

Proprietary: If checked, the account is considered proprietary.

Buy Option: Enables account to buy options.

Write Option: Enables account to write options

Write Naked Option: Enables account to write naked options.

Complex Option Order: Enables account to send complex options orders.

BP Extend: If checked, use extended BP calculation based on intra-day trading activity.

2 x BP for cash order: If checked, will hold 2*BP for cash order, if unchecked, will hold 4*BP for cash order (normal case).

Position BP: Releases buying power based on positions held.

Futures Trading: Enables account to trade futures.

Auto Cover after executions: Please contact DAS about this feature.

Fix BP: BP will be the same amount every morning.

Release Day BP: Release buying power for day trading.

Release Overnight BP: Release buying power for overnight trading.

Release ½ BP:  Release only half buying power if buying power is released.

BP change with P/L: Changes buying power according to P/L.

Portfolio Margin: Enables portfolio margin, please confer with DAS and your clearing firm about this feature.

SMAT stop order BP check trigger: Checks only the buying power when a stop order is triggered on smart router.

Overwrite overnight position AvgCost: If checked, doesn’t keep overnight position average cost.

Fast Buying Power Check: If checked, buying power checking is simplified to send order to the market ASAP.

Flexi Leverage: If checked, Flexi leverage will be applied.

Delay Tickets Calculation: If checked, tickets calculation will be delayed.

DAS Maintain BP/Equity: BP and Equity will be maintained by DAS instead of being imported from a back office.

 

CLICK COMMIT WHEN DATA ENTRY IS COMPLETE!

 

Per Account Risk Control

Read each field carefully to see what it is for. Here are some additional notes:

Max Loss: This applies to realized P/L only

Total Loss: This applies to both realized and unrealized P/L

Downcount: The value for this field is N minutes. If the account reaches Max Loss or Total Loss, then this account’s open orders will be canceled, and all positions will be closed after N minutes. Set to 0 for this field to be ineffective.

For more about Buying Power and Equity, see this page about BP and EQ.