Position Check

Section A: Your Positions

1. What is a position?
• Shares of a stock or option that you have bought or shorted with your account’s funds.

2. What are morning positions and current positions?
• Morning positions are carried over from the previous trading day, current positions are positions you currently hold.
• Current Position = Morning Position + Today’s Buys – Today’s Sells

3. How do I close/cover a position?
• Right click on the position in the Positions window, then select Montage. In the Montage window, once the order information is entered correctly, click Sell to close a long position, or Buy to close a short position.

4. Why do the clearing firm and DAS Trader Pro have different information about my positions?
• The clearing firm may have adjusted or closed a position outside of the DAS Trader system. This may be caused by a trade break or other reasons.
• The End of Day file did not make it to the clearing firm, this can be caused by various issues. It is best to confer with DAS or the clearing firm directly about this.
• The clearing firm may not have sent the Beginning of Day files to DAS which contain the most current positions information.

5. When we use the Position Check feature, should we compare current positions?
• No, you must use morning positions file as your traders may have already traded today.

Section B: How to Use the Position Check Feature in DAS

6. How do you do a Position Check?
• On the menu bar, click Admin then Position Check. Load the position file using the correct “Compare” button. Then using the three sections which are labeled “Position mismatches,” “Positions only found in System (meaning DAS),” and “Positions only found in file,” and using your knowledge as the broker or administrator, you can select positions to insert, delete, or update.

7. Where I get the positions file from ETC?
• You can download it from the ETC ftp site.

8. Where I get file from IBOSS?
• You can ask DAS to pass this file to you.

9. What are the positions that DAS has?
• These are positions that carried over from the previous day. Because a broker, administrator, or the clearing firm may flatten or adjust a position overnight, the positions that the clearing firm has are the correct ones.

10. What are the position mismatches?
• It is when the positions from the two different sources have different numbers for shares or average cost.

Question: Why was my order rejected?

There are several reasons your orders may have been rejected. DAS Trader Pro displays the full rejection message to you in the montage window, in the status bar below the Level 2 information.

In many cases, the trading venue (route) will reject your order, in which case you will need to check with your broker or admin who can contact the route for more information. If you are a broker or admin trying to find out more information, please contact the trading venue, with information regarding the symbol, entry time, and quantity available so the route can look up the rejection method.

If you receive a rejection because of BP, you should check:

1. The margin requirements for that symbol (you can check by clicking Trade then Shortlist. Enter the symbol you are trying to trade in the first column and press enter. It will then tell you the margin rate for long positions and short positions).

2. If you have open orders, they will use your BP. Double check your BP in the account window.

If you receive a rejection message regarding risk controls, please contact your broker or administrator to review the risk controls placed on your account.

Online Traders (admin view)

This window displays a list of traders online, along with their branch, trader type, version number, login time, IP address, and the quote server they are connected to. This list is not dynamic, to obtain a snapshot of who is online at the moment, right click in this window and select Refresh.

Position Check

This program allows you to compare the DAS Trader database for daily starting positions with a clearing firm position file. Type: 1=Cash; 2=Margin; 3=Short.

Click the Compare with Penson button. Locate the clearing firm’s position file. Click Open.

Position mismatches in system and file: List of positions that are mismatched.

Position only found in System: Lists positions found in your DAS database, but not in the clearing firm file.

Delete: Highlight the positions you wish to delete from the DAS database.

Position only found in file: Lists positions found in the clearing firm’s position file, but not in the DAS database.

Insert: Highlight the positions you wish to insert into the DAS database.

Save: Allows you to save the displayed report to Notepad (or your preferred program for .txt files).

AccFilter: List account numbers you wish to exclude from comparison.

Shortlist (Admin view)

Shortlist (admin view)

This window allows you to add a security to the Shortlist, or remove a security from the Hard to Borrow list. Select Shortlist from the Admin menu to open the Security

Control window. Enter the security symbol in the symbol field. Put a check next to

Shortable List0 or ShortableList1. Enter the number of shares. (This is the maximum number of shares that can be sold short on one order). Click Commit.

 CHECKING IF A SECURITY IS SHORTABLE

Enter the security symbol and click Load. This feature only works for NASDAQ National Market and Listed securities. See Note, below.

NOTE: NASDAQ Small Cap and OTCBB securities are automatically not shortable on this system. However, these securities will be displayed as shortable when using the Load feature described above.

ADD MULTIPLE SECURITIES TO SHORTLIST

You can use the Cut & Paste Short List Edit feature (the big white box on the right side of this window) to add multiple items to the shortlist. This is the format you’ll need to use:

SYMBOL,SHORTSIZE

A,1000

B,10000

C,5000

But make sure you change A, B, and C and their size to the right symbol and size. Click Commit to add these to the shortlist. You will have to adjust the Long Leverage and Short Leverage field individually when adding symbols using this method.

Tickets Report

Tickets Report

Tickets represent all executions that result from one order being entered. This window is just for informational purposes. Please check your back office program for exact fees.

Refresh: You must click Refresh first to view any tickets. 

Filters:

Cat: Select Real (for tickets from live trades), Training (for tickets from paper trades), or Both.

Stat: Select Canceled or Open.

Br#: Branch Select from the menu or leave blank to view all tickets.

Symb: The security symbol.

Route: Select from the menu.

Trader: The Trader Logon.

Acc#: Account number.

After selecting your criteria, click Filter to view the pertinent tickets.

Fit: Click to adjust the data to fit the columns.

Count: Displays statistics regarding the displayed tickets.

Editing Trades

Editing Trades

Double click on the trade to be modified. The Modify Trade window opens. Modify Trade data as necessary. Click Commit and Exit.

Trade Copy

Double click on the trade to be modified. The Modify Trade window opens. Click New Copy, and Commit and Exit.

Canceling Trades

Double click on the trade to be canceled. The Modify Trade window opens. In the Status field, select Canceled. Click Commit and Exit.

Editing Commissions on Multiple Executions 

Multiple executions resulting from one order entered share the same Token, an identifying number, found in the last column on the Trades window. To change a commission to anything other than what is specified on the trader’s Deal, change the commission on only one of the multiple executions.

Zero Commission – Delete the field to change a commission to zero.

Phone – Set to YES to add a phone charge to the commission. (See Deal Edit).

Trade Manager

Trade Manager

The Trade Manager window is empty when first opened. Click Filter to display ALL the current day’s orders. Or, filter by specific parameters using the filters on the right. Empty fields filter by all data.

Filters:

Cat: Category, select Real (live trades), Training (paper trades), or Both.

Stat: Order status.

Br#: Select a branch from the dropdown menu.

Tkn: Token associated with an order.

Symb: The security symbol.

Trader: The Trader Logon that placed the order.

Route: Select from the dropdown menu.

Acct#: Account number.

+/-: This check box will show if the trade added or removed liquidity in the route column.

OrderID: Order ID number.

TradeId: Trade ID number.

Buttons:

Filter: Searches for orders based on criteria entered.

Clear: Clears all fields

Fit: Adjusts the columns to fit the data.

Sort: Sorts by column selected.

Stat: Statistics; left click to generate statistics for the selected order.

To learn how to edit trades or manually add trades, visit this page.

Order Manager

Order Manager

The Order Manager window is empty when first opened. Click Filter to display ALL the current day’s orders. Or, filter by specific parameters using the filters in the top part of the window. Empty fields filter by all data.

 Filters:

Cat: Category, select Real (live trades), Training (paper trades), or Both.

Stat: Order status.

Br#: Select a branch from the dropdown menu.

Tkn: Token associated with an order.

Symb: The security symbol.

Trader: The Trader Logon that placed the order.

Route: Select from the dropdown menu.

Acct: Account number.

Order ID: Order ID number.

TIF: Time in Force.

Buttons:

Filter: Searches for orders based on criteria entered.

Clear: Clears all fields

Fit: Adjusts the columns to fit the data.

Sort: Sorts by column selected.

Stat: Statistics; left click to generate statistics for the selected order.

 Statistics:

Number: The number of orders.

Buy: Total number of orders, open shares, and dollar amount on buy side.

Sale: Total number of orders, open shares, and dollar amount on sell side.

Canceling Orders

Left click anywhere on the open order to be cancelled. Click the Cancel button. It is located in the top left corner.

Bulk Cancel

Filter so that all orders to be cancelled are displayed. Click the Cancel All button.

Closing Orders

If for some reason, it is not possible to cancel an open order, the order may be closed, or purged from the system. Left click anywhere on the order to be closed. Click the Close button. Closing an order does not cancel the order. Be sure to determine the status of the order. For Bulk Close, use same procedure as for Bulk Cancel.

Further Explanation for Some Columns:

L/M: This column shows if the order a Limit, Market, or Stop order. If the order is a stop order, it also displays the trigger price in this field.