R Trader Trader's Guide

Trader’s Guide
10.4.0.0
November 2011
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R | TRADER TRADER’S GUIDE
Document Information
This document and the Software Products that it describes are protected by copyright law and
international treaties. Unauthorized use, reproduction or distribution of this document, or any
portion of it, may result in severe civil and criminal penalties, and will be prosecuted to the
maximum extent possible under the law.
The Software Products described in this document are licensed strictly in accordance with a
separate Software System License Agreement, granted by Rithmic, LLC, which contains
restrictions on use, reverse engineering, disclosure, confidentiality and other matters.
Information in this document, as well as the features and specifications of the Software
Products described by this document, are subject to change without notice. Rithmic, LLC,
makes no claims as to the accuracy or completeness of any information contained herein.
Rithmic, LLC, is not responsible for any typographical errors contained in this document.
Copyright 2011 Rithmic, LLC.
Rithmic™, R | Trade Execution Platform™, R | Trader™, R | Manager™ and R | API™ are

trademarks of Rithmic, LLC, in the United States, other countries, or both.
is a trademark of Omnesys Technologies, Inc.
www.rithmic.com Page 2 of 93
Table of Contents
MACHINE CONFIGURATION AND NETWORK RESOURCE RECOMMENDATIONS AND
REQUIREMENTS ............................................................................................................................................................. 7
SUPPORT ........................................................................................................................................................................... 7
INSTALLATION AND LOGIN ........................................................................................................................................ 8
MAIN CONSOLE............................................................................................................................................................. 10
FILE MENU OPTIONS ................................................................................................................................................... 11
RECENT ORDERS ............................................................................................................................................................. 11
Rithmic Platform Transit Time and Elapsed Time ..................................................................................................... 12
Modifying an Order through the Recent Orders Window ........................................................................................... 12
Cancelling an Order through the Recent Orders Window.......................................................................................... 13
Viewing Order Details ................................................................................................................................................ 13
Viewing Market Data Trade History around the Time of an Order ........................................................................... 13
FUTURE OPTIONS ............................................................................................................................................................ 15
Placing Orders from the Future Options Window ...................................................................................................... 16
OPTIONS BOARD.............................................................................................................................................................. 17
Placing Orders from the Options Board Window ....................................................................................................... 19
ORDER BOOK .................................................................................................................................................................. 20
Order Book Basics ...................................................................................................................................................... 20
Setting and Selecting an Instrument to View and/or Trade .................................................................................... 22
Setting and Selecting an Account ........................................................................................................................... 22
Position ................................................................................................................................................................... 22
P&L ........................................................................................................................................................................ 22
Average Open Fill Price ......................................................................................................................................... 23
Account Balance ..................................................................................................................................................... 23
Quantity .................................................................................................................................................................. 23
Bid and Offer Sizes and Counts .............................................................................................................................. 23
Last Trade Price and Net Change ........................................................................................................................... 23
Trade Volume ......................................................................................................................................................... 24
Market Mode .......................................................................................................................................................... 24
Centering the Price Rows ....................................................................................................................................... 24
Freezing the Movement of the Price Rows ............................................................................................................. 24
Viewing Multiple Order Books within a Single Order Book Window ................................................................... 24
Grid Lines ............................................................................................................................................................... 25
Tool Tips................................................................................................................................................................. 25
Standard Open Order Indicators ................................................................................................................................ 26
Setting Order Defaults ................................................................................................................................................ 27
All Actions .............................................................................................................................................................. 28
If Touched............................................................................................................................................................... 28
Stop ......................................................................................................................................................................... 28
Trailing Stops ......................................................................................................................................................... 28
Duration .................................................................................................................................................................. 28
Max Show Quantity ................................................................................................................................................ 28
Configuring the Trade Buttons ................................................................................................................................... 28
Rearranging the Left-Right Order of the Trade Buttons ......................................................................................... 28
Disabling and Enabling the Function of a Trade Button ......................................................................................... 31
Placing Simple Orders through the Order Book ........................................................................................................ 32
Market Orders ......................................................................................................................................................... 32
Limit Orders ........................................................................................................................................................... 32

Stop (Market) Orders .............................................................................................................................................. 32
Stop Limit Orders ................................................................................................................................................... 32
Limit If Touched Orders ......................................................................................................................................... 33
Market If Touched Orders ...................................................................................................................................... 33
Modifying and Cancelling Orders and Flattening Positions through the Order Book ............................................... 33
Reversing a Position through the Order Book ............................................................................................................ 35
Placing One Cancel Other Orders through the Order Book ...................................................................................... 35
Placing Bracket Orders through the Order Book ....................................................................................................... 39
ORDER HISTORY.............................................................................................................................................................. 43
MARKET DATA TRADE HISTORY ..................................................................................................................................... 44
POSITIONS ....................................................................................................................................................................... 45
QUOTE BOARD ................................................................................................................................................................ 46
Viewing Market Data in the Quote Board .................................................................................................................. 46
Placing Orders from the Quote Board ....................................................................................................................... 47
TRADER DASHBOARD ...................................................................................................................................................... 51
View Risk Parameters ................................................................................................................................................. 52
View Positions ............................................................................................................................................................ 52
Open Order Book........................................................................................................................................................ 52
Open Options Board ................................................................................................................................................... 52
View Recent Orders .................................................................................................................................................... 52
Pull Working Orders .................................................................................................................................................. 52
Pull Working Orders and Exit Position ...................................................................................................................... 52
FUTURE STRATEGIES ....................................................................................................................................................... 53
Placing Orders from the Future Strategies Window .................................................................................................. 53
EQUITY OPTION STRATEGIES .......................................................................................................................................... 55
Placing Orders from the Equity Options Strategies Window ..................................................................................... 55
SYNTHETIC BOARD ......................................................................................................................................................... 57
Trading a Synthetic Instrument................................................................................................................................... 59
TRADE MENU OPTIONS .............................................................................................................................................. 60
PLACE ORDER ................................................................................................................................................................. 60
Account ....................................................................................................................................................................... 61
Exchange .................................................................................................................................................................... 61
Duration ..................................................................................................................................................................... 61
Routing Instructions ................................................................................................................................................... 61
Trans ........................................................................................................................................................................... 61
Qty .............................................................................................................................................................................. 61
Symbol ........................................................................................................................................................................ 62
Price Type ................................................................................................................................................................... 62
Limit Price .................................................................................................................................................................. 62
Stop Price ....................................................................................................................................................... 62
Use Max Show Qty ..................................................................................................................................................... 62
Use Account Templates............................................................................................................................................... 63
Release At ................................................................................................................................................................... 63
Cancel At .................................................................................................................................................................... 64
Cancel After ................................................................................................................................................................ 64
Close when done ......................................................................................................................................................... 64
Place Order and Close Buttons .................................................................................................................................. 64
If Touched Orders ....................................................................................................................................................... 65
Price Field ............................................................................................................................................................... 65
Symbol .................................................................................................................................................................... 65
Exchange ................................................................................................................................................................ 65
Condition ................................................................................................................................................................ 65
Price .......................................................................................................................................................... 65
DRIP ORDERS .................................................................................................................................................................. 66
Creating a Drip Order ................................................................................................................................................ 66
Buy/Sell .................................................................................................................................................................. 66
Limit/Market ........................................................................................................................................................... 66
Price Field ............................................................................................................................................................... 66
Tick Offset .............................................................................................................................................................. 67
Use Account Templates .......................................................................................................................................... 67
Drip Interval ........................................................................................................................................................... 67
Start Time ............................................................................................................................................................... 67
End Time ................................................................................................................................................................ 67
Deleting a Drip Order ................................................................................................................................................ 67
Disabling a Drip Order .............................................................................................................................................. 68
Disabling all Drip Orders .......................................................................................................................................... 68
Enabling a Drip Order ............................................................................................................................................... 68
Enabling All Drip Orders ........................................................................................................................................... 68
Modifying a Drip Order.............................................................................................................................................. 68
SEARCH SYMBOL............................................................................................................................................................. 69
EASY TO BORROW LIST ................................................................................................................................................... 70
WINDOW MENU OPTIONS .......................................................................................................................................... 71
EXCEPTION WATCHER..................................................................................................................................................... 71
ORDER ALERT HISTORY .................................................................................................................................................. 71
PREFERENCES .................................................................................................................................................................. 72
Performance ............................................................................................................................................................... 73
LAUNCH BAR .................................................................................................................................................................. 75
APPENDIX A – SETTING AND SAVING WINDOW PROPERTIES, FILTERING, SAVING AND SORTING
DATA ................................................................................................................................................................................. 76
CUSTOMIZING COLUMNS ................................................................................................................................................. 76
SORTING DATA IN COLUMNS ........................................................................................................................................... 76
FILTERING ROWS ............................................................................................................................................................. 77
SAVING WINDOW SETTINGS AND PROPERTIES AND SAVING DATA ................................................................................. 77
Grid Lines ................................................................................................................................................................... 77
APPENDIX B – PRICE TYPES, ORDER DURATION AND MARKET MODE ..................................................... 78
PRICE TYPES.................................................................................................................................................................... 78
Limit ............................................................................................................................................................................ 78
Limit If Touched ............................................................................................................................................... 78
Market......................................................................................................................................................................... 78
Market If Touched ............................................................................................................................................ 79
Stop Limit ....................................................................................................................................................... 79
Stop Market ....................................................................................................................................................... 80
ORDER DURATION ........................................................................................................................................................... 82
MARKET MODE ............................................................................................................................................................... 83
APPENDIX C – EXCHANGE AND OTHER TRADING VENUE IDS...................................................................... 84
APPENDIX D – ADD SYMBOL ..................................................................................................................................... 85
SEARCHING FOR SYMBOLS WITHIN AN EXCHANGE OR WITHIN ALL EXCHANGES ............................................................ 85

SEARCHING FOR SYMBOLS WITHIN A PRODUCT GROUP OF AN EXCHANGE ..................................................................... 86
REFINING YOUR SEARCH................................................................................................................................................. 87
ADDING A SYMBOL TO THE WINDOW THAT LAUNCHED THE ADD SYMBOL WINDOW ..................................................... 88
APPENDIX E – UNDERSTANDING AND CONFIGURING BRACKETS .............................................................. 89
WHAT IS A BRACKET? ..................................................................................................................................................... 89
CREATING A NEW BRACKET............................................................................................................................................ 90
DELETING A BRACKET..................................................................................................................................................... 91
MODIFYING A BRACKET .................................................................................................................................................. 91
Machine Configuration and Network Resource

Recommendations and Requirements
Minimum hardware and network requirements for using R | Trader™ may vary based on a
number of factors including, but not limited to, the market data activity of the instruments
being traded and/or monitored, the number of instruments being traded and/or monitored, the
number of active windows and the resource usage of other software running concurrently.
Operating System and .NET Framework Requirements
Operating Systems Windows 7

Microsoft .NET Framework 3.5
Machine and Network Recommendations
CPU Single Dual Core or more

RAM 4096MB or more
Internet Bandwidth High Speed Cable or greater
Support
Support is available from your Futures Commission Merchant (FCM), your Broker-Dealer and/or
your Introducing Broker (IB). Under certain circumstances, and upon special arrangement with
your FCM, Broker-Dealer or IB, additional support may be made available from Rithmic, LLC
directly.
Installation and Login
R | Trader™ is distributed as a standard Windows Installer file

(a .msi file) named as
RithmicTrader-10.4.0.0-Setup-Name.msi,
where Name refers to the name of your FCM, Broker-Dealer,
IB or trading organization, as the case may be.
Once the .msi file is copied to your machine, run it to install

and configure the R | Trader™ application. A shortcut will be
placed on the desktop and an entry will be placed in the Start
Menu under:
All Programs  Rithmic  Launch  Rithmic Trader
Logging into the

System
Obtain a user id and password from your FCM, Broker-Dealer or IB and the name of the system
to which you should connect. Through this user id you will have access to the various accounts
setup by your FCM, Broker Dealer or IB on your behalf. You will be able to place, modify and
cancel working orders on any of these accounts, subject to your risk settings (established and
maintained by your FCM, Broker-Dealer or IB).
After launching R | Trader™, a login screen will prompt you to enter your user id, password and
system. Enter your user id and password, select the system and click on the or press the
enter key. If you are not sure which system to select, contact your FMC, Broker-Dealer or IB.
If you would like to launch R | Trader™ without using your previous settings, click on Skip
Settings instead of on the . At any time prior to completing the login process you may cancel
your login by clicking on Cancel or by pressing the ESC key.
If you find that the login process takes a long time or if you are having trouble connecting, click
on "ECL" located at the bottom left of the login screen. A window will pop up from which you
may select or identify a file into which R | Trader™ will log information about its connection
process. Kindly e-mail the contents of that file to operations@rithmic.com so that Rithmic
may use it to help determine the source of the connection problem.
Main Console
The Main Console provides access to the various market data, risk management, position,
order entry and history screens. Each screen (window) may be launched through a
selection under the file menu or from the launch bar, pictured below.
Many of the screens allow you to customize their appearance, from choosing the columns of
data to display, to setting fonts, colors and gridlines. Refer to Appendix A for details and
instructions. Most windows indicate the status of their data feeds with small round colors,
shaped like an led. A led displayed by a window for a data feed indicates that all data
from that feed received by R | Trader™ destined for that window has been processed by
that window. A led displayed by a window for a data feed indicates that some data
received by R | Trader™ destined for that window still needs to be processed by that
window. A led displayed by a window for a data feed indicates that the connection to
that data feed has been broken.
The three numbers at the bottom right of the Main Console window (pictured above as 0.00,
0.00 and 0.00) indicate the number of market data messages per second received by R |
Trader™ over each of 3 separate rolling time intervals. You may set the length of each time
interval in the preferences window (see Window menu options) but by default they are
usually set to 5, 10 and 30 seconds respectively.
File menu options

By selecting an option under the File menu, you have the ability to open a new window, change
your password, save and retrieve settings or exit R | Trader™. Any of the windows pictured in
the launch bar above, can be opened from the file menu. They are:
Recent Orders
The Recent Orders window displays information about working orders and completed orders
(completed during the current trading day).
Note: A trading day may begin on a prior calendar day.

Note: The start time and end time of a trading day for one product group may not be
the same as the start time and end time of a trading day for other product groups.
The upper pane shows working orders (open orders). Orders that are working are live and in
the market, though depending upon the price type of an order, an order may be live and
acknowledged by an exchange, but may not yet be in an instrument‟s order book (some stop
orders). Additionally, some open orders may not yet have even been sent to an exchange
(some stop orders, if touched orders, etc.). See Appendix B for a description of price types.
The lower pane shows orders that have been completed. Orders that are completed are orders
whose quantity to fill has been satisfied by a combination of quantity filled and quantity
cancelled, i.e. orders that no longer have any quantity that may yet be filled.
If you prefer to have the Recent Orders window display its data without upper and lower panes,
click on the and the data will be organized into a working orders tab and a completed orders
tab as in the picture below.
Rithmic Platform Transit Time and Elapsed Time

Both panes of a Recent Orders window show the time taken for an order to be processed R |
Trade Execution Platform™ (the Rithmic Platform Transit Time) and the time taken for an order
to be completed (Elapsed Time). The Rithmic Platform Transit Time is calculated as the time
just after R | Trade Execution Platform™ sent an order to the exchange minus the time just
after R | Trade Execution Platform™ received that order and assigned it an order number. The
elapsed time of an order is calculated as the time when R | Trade Execution Platform™ marked
an order as complete minus the time just after R | Trade Execution Platform™ received that
order and assigned it an order number. The range of these times depends upon a number of
factors including market activity and the rate at which an exchange can fill an order, the price
type of an order, whether or not an order is multi-legged, whether or not an order is directed to
be held until some event happens (market open, for example) or until a particular time,
concurrent order placement activity, etc. Keep in mind that the accuracy of these times is
subject to the synchronization of the clocks of the machines on which R | Trade Execution
Platform™ runs.
Modifying an Order through the Recent Orders Window
To modify a working order through the Recent Orders window, click on the associated with
the order in the working orders pane that you wish to modify or right click on that order and
select Modify Order from the small menu that pops up. A modify orders screen will appear
through which you may change the quantity and/or the price of the order.
Cancelling an Order through the Recent Orders Window
To cancel (or pull) a working order through the Recent Orders window click on the , which by
default is located in the leftmost column of the order or right click on that order and select
Cancel Order from the small menu that pops up. Depending upon your preference settings the
click itself or the selection from the pop up window will cause a cancellation request to be
submitted to the exchange or they will cause a cancellation confirmation window to appear.
Viewing Order Details

Order details can be viewed by double clicking on an order in either the upper or lower pane. A
new window will open showing the history and details of the order‟s creation, its
acknowledgment by the exchange, any modifications, fills and/or cancellations, rejects or
failures.
Viewing Market Data Trade History around the Time of an Order

You may view the trades that occurred in the market around the time of any of your recent
orders (orders placed within the current trading session) by right clicking on an order and
selecting Market Data Trade History.
The Market Data Trade History window will pop up displaying trades that were reported through
the exchange‟s market data channels for the 300 seconds around the latest update time of your
order. Some exchanges provide enough information on a market data trade report so that R |
Trade Execution Platform™ can identify precisely which market data trade report corresponds to
your order. If such information is not available the screen will show all market data trades that
occurred during the same second as yours in orange. Trades occurring after yours will be
shown with a green background and trades occurring before yours will be show with a yellow
background.
Future Options
The Future Options window displays real time market data for all options of a particular product
group with a specific expiration date.
When an expiration date is selected, the Future Options window shows prices for call options on
the left and prices for put options on the right. If the underlying contract can be determined,
its symbol, exchange, description and pricing information is displayed at the top. To show
which options are in the money and which are out of the money, an orange line corresponding
to the underlying‟s last traded price is displayed in the Strike column. In the money options are
displayed against a black background.
Placing Orders from the Future Options Window

You may place orders for a specific option through the Future Options window by clicking on a
“Bid” or “Ask” column of the row that corresponds to the strike price of the option you wish to
buy or sell. A click on a “Bid” column on the left side of the window brings up a Place Order
window populated to sell a call option with other fields containing the same contents as the
Order Parameters of the Future Options window. A click on the “Ask” column of the same row
on the left side of the screen brings up a Place Order window similarly populated but set to buy
the call option.
Though the Place Order window pops up pre-populated, you may change the contents of the
fields that have an associated drop down box. Click the “Place Order” button to submit the
order. Click the “Cancel” button to close the Place Order window without placing the order.
Options Board
The Options Board window displays real time market data for all options of an underlying
symbol listed at a specified options exchange.
The Options Board window shows prices for call options on the left and prices for put options on
the right. Though originally designed to show equity options, you may use this window to view
and trade future options as well (provided that R | Trade Execution Platform™ to which your R |
Trader™ is connected can associate future options with their underlying future contract).
Placing Orders from the Options Board Window

You may place orders for a specific option through the Options Board window by clicking on a
“Bid” or “Ask” column of the row that corresponds to the strike price of the option you wish to
buy or sell. A click on a “Bid” column on the left side of the window brings up a Place Order
window populated to sell a call option with other fields containing the same contents as the
Order Parameters of the Options Board window. A click on the “Ask” column of the same row
on the left side of the screen brings up a Place Order window similarly populated but set to buy
the call option.
order. Click the “Close” button to close the Place Order window without placing the order.
Order Book
Use the Order Book window to view real time market depth and to place and manage orders for
a particular instrument.
Order Book Basics

Depending upon which columns you select to be displayed, an order book can show you an
instrument‟s last trade price, its quantity available to be bought or sold at various prices and
the number of buy and sell orders at each price. Additionally you may view an account‟s
position, its open orders and its p&l for a particular instrument.
The Order Book above shows pricing information for YMU1 at the CBOT and position, open
orders and p&l on YMU1 for account Rithmic3.
Setting and Selecting an Instrument to View and/or Trade

When an Order Book window is launched, it displays an empty box labeled
Symbol.Exchange. Type the symbol that corresponds to the instrument whose order
book you would like to view in that box followed by the symbol-exchange separator (a
period “.” by default) then followed by the id of the exchange or other trading venue on
which that instrument trades (refer to Appendix C for a list of exchange and other
trading venue ids). Press enter or tab or click away from the box and, if the symbol-
exchange pair you entered is valid, its description and its order book will be displayed in
the Order Book window.
You may change the instrument whose order book you wish to view by clicking on the
description (the symbol-exchange pair of the instrument whose order book is currently
displayed will be shown) and then by typing over the current symbol-exchange pair and
pressing enter or tab.
If you do not know the symbol that corresponds to the instrument whose order book
information you wish to view, double click on the symbol-exchange pair (or in the empty
box labeled Symbol.Exchange, as the case may be) and an Add Symbol window will pop
up. Refer to Appendix D for information on how to select a symbol through an Add
Symbol window.
Setting and Selecting an Account

When an Order Book window is launched, it displays an empty drop down box labeled
Account. Select the account from the drop down box whose orders and p&L information
you wish to view for the instrument identified by the symbol-exchange pair of the Order
Book window. The description of the selected account will be displayed in the Order
Book window.
You may change the Account whose orders you wish to view by clicking on the account‟s
description and selecting a different account.
Note: The account drop down box will only show the accounts to which you have
permission to view and/or trade.
Position
The column labeled “Position” at the top of the Order Book indicates the net open
position of the instrument (YMU1) for the account (Rithmic3). A negative number
indicates a short position.
P&L
The number to the right of the “Position” indicates the open p&l in the currency of the
account (in this case USD). By clicking on the p&l you may toggle through several types
of p&l to display – Total P&L in the currency of the account, in ticks or in price points,
Open P&L in the currency of the account, in ticks or in price points or no p&l display.
Average Open Fill Price

The number to the right of the p&l is the average open fill price of the current open
position, in this case, of YMU1 for Rithmic3. It is also highlighted in the price column by
a colored bar, in this case blue. If the average open fill price is not a tradable price then
it is highlighted in the price column at the first price at which a flattening of the position
would yield a profit. For example, if the average open fill price for a long position were
829.125 of an instrument that trades in increments of 0.25, then the highlighted price
would be 829.25.
Account Balance
Depending upon the type of risk management algorithm your FCM, Broker-Dealer or IB
has chosen for your account, the balance of your account may be displayed in the
middle of the top part of the Order Book, on the left of the number pad.
Quantity
Toward the right side of the top of the Order Book is a number pad that you may use to
specify the default quantity to fill and a box that indicates the quantity to fill on the next
order. You may specify a quantity in the box with the arrows directly or by clicking on a
number in the number pad. Each click of a number in the number pad adds that
number to the quantity in the box with the arrows. You may increase the quantity in the
box by clicking on the up arrow and you may decrease the quantity in the box by
clicking on the down arrow. To clear the quantity, click on the “Clear” button. To set
the default quantity, click on the “Set Def” button.
When an order is placed through the Order Book, the quantity to fill on that order will be
the quantity that is displayed in the box with the arrows at the time that the order is
submitted. After an order is placed through the Order Book, the quantity in the box with
the arrows is automatically reset to display the default quantity. For example, if the
default quantity is 5, and the number in the box with the arrows is 7, and an order is
placed through the Order Book, that order will have a quantity of 7 and the quantity
displayed in the box with the arrows will then be reset to 5. The default quantity is
displayed on the thin line that surrounds the number pad (just above the 10, 20 and 50
buttons).
Bid and Offer Sizes and Counts

The number of orders bid at a certain price is displayed in the column with the heading
“Bid Count” on the row that displays that price. The quantity available to be bought at a
certain price is displayed in the column whose heading is “Bid Size” on the row that
displays that price. In the Order Book above, there is a quantity available to be bought
of 381 spanning 23 orders at a bid price of 1266. Similarly, the number of orders
offered at a certain price is displayed in the column with the heading “Ask Count” on the
row that displays that price and the quantity available to be sold at a certain price is
displayed in the column whose heading is “Ask Size” on the row that displays that price.
Last Trade Price and Net Change

The price at which an instrument has last traded is highlighted in the price column by a
colored bar, in this case orange.
The net change of the instrument is displayed at the top of the price column.
Trade Volume
The Trade Volume column displays either the quantity traded at each price of the order
book or the quantity traded at the best bid price and the best ask price since those
prices became the best prices. You may toggle which quantities are displayed by
clicking on the column heading.
Market Mode
The market mode (trading status) of an instrument is displayed in the middle of the
bottom of an Order Book. Refer to Appendix B for more information about market
modes.
Centering the Price Rows

By default, the rows that display prices in the Order Book are centered around the
midpoint of the current best bid and best offer prices. As these prices change the Order
Book will dynamically reposition the price rows accordingly, at an effective rate of about
1 row per second. For example, if the midpoint of an instrument‟s best bid and offer
price suddenly drops by 5 ticks (5 rows), the Order Book will reposition the price rows
by moving them up by 5 rows in about 5 seconds. While repositioning these rows, if the
midpoint of the instrument‟s best bid and offer price suddenly rises by 10 ticks, the
Order Book will switch the direction of its movement to reposition the rows accordingly.
If you change the view of the price rows by scrolling, once you stop scrolling, the Order
Book will begin to move the rows back to their default position. At any time you may
cause the Order Book to display the price rows in their default position by double clicking
on any row in the price column.
Freezing the Movement of the Price Rows

If the “Hide sizes and counts on mouse over” box is checked on the Windows tab of the
General tab of the Preferences window, then, while your mouse is over any cell of a
price row in an Order Book that permits you to place, modify or cancel an order, the
sizes and counts will not be visible in that Order Book and the price rows of that Order
Book will not move. As soon as your mouse is no longer over any such cell, the sizes
and counts will become visible and the price rows will resume their movement.
Alternatively, if the “Hide sizes and counts on mouse over” box is checked you may
freeze the movement of the price rows and hide the sizes and counts of an in focus
Order Book by pressing and holding the Ctrl key. As soon as the Ctrl key is released,
the sizes and counts will become visible and the price rows will resume their movement.
Viewing Multiple Order Books within a Single Order Book Window

You may view multiple order books within a single Order Book window by clicking on the
“+” button at the top right. Each click of the “+” button opens an additional tab within
the Order Book window and each tab may be configured to show prices for a different
instrument as in the picture below. Click on the “x” button (next to the “+” button) to
delete the current tab.
Grid Lines
You may apply, change or remove gridlines from an Order Book by clicking on the
icon at its top and selecting “Grid Lines…”. You may move horizontal gridlines in an
order book by clicking on a price row, holding down the Ctrl key and then pressing the
up arrow or down arrow key.
Tool Tips
If you would like to view tool tips when your mouse hovers over cells of a row in an
Order Book that permit you to place, modify or cancel orders, uncheck the “Disable
tooltips” box in the General tab of the Preferences window.
Standard Open Order Indicators

In the Order Book below, the column on the left shows the total profit or loss that the account
would have for YMU1 if the current position were to be flattened at any particular price.
For example, if the current position were flattened at a price of 12608 then the account would
have a profit of $910.00 for YMU1. The b5 indicates that one or more limit orders have been
placed on this account and remain open to buy a total quantity of 5 at a price of 12612. The
s5 indicates that one or more stop orders have been placed on this account and remain open to
sell a total quantity of 5 with a stop price of 12615. The b5 indicates that at least one if
touched order has been placed on this account and remains open to buy a quantity of 5 with a
trigger price of 12623.
A “b” before a number in the Stops, If Touched or Limit Orders column indicates a buy
quantity. An “s” before a number in the Stops, If Touched or Limit Orders column indicates a
sell quantity. The price on the row on which a “b” before a number or an “s” before a number
resides indicates the price associated with that quantity to be filled. The type of price is
indicated by the heading of the column in which the “b” before a number or the “s” before a
number resides and is also indicated by for stops and for if touched.
Note: The quantity preceded by a “b” or an “s” indicates the total quantity open at that price,
across all orders (of the account) for the instrument.
Note: Unless the instrument to be traded when an if touched trigger condition is met is the
same as the instrument associated with the trigger condition, an Order Book does not show the
id (Symbol) of the instrument that will be traded - they need not be same instrument. Refer to
Appendix B for details on if touched price types.
Setting Order Defaults

Click on Order Defaults and a window will pop up through which you may set the defaults for
many of an order‟s parameters.
All Actions
Check the Confirm box in the All Actions section if you would like an order ticket to be
displayed prior to placing, modifying or cancelling an order.
If Touched
If you would like an if touched order to be a market order by default, select Market in
the If Touched section. If you would like an if touched order to be a limit order by
default, select Limit in the If Touched section.
Stop
If you would like a stop order to be a market order by default, select Market in the Stop
section. If you would like a stop order to be a limit order by default, select Limit in the
Stop section.
Trailing Stops
If you would like a buy stop order to trail a price by default, check the box labeled “Buy
Stops Trail By”, select a price type from the drop down box in the column labeled “Price
Field” and set the number of ticks to trail by in the box in the column labeled Ticks.
Similarly, if you would like a sell stop order to trail a price by default, check the box
labeled “Sell Stops Trail By”, select a price type from the drop down box in the column
labeled “Price Field” and set the number of ticks to trail by in the box in the column
labeled Ticks.
Duration
Set the default duration of an order (time in force) from the Duration drop down box.
Refer to Appendix B for details.
Max Show Quantity

If you would like your orders to indicate a maximum quantity to show (an iceberg
quantity) by default click the Use box in the Max Show Qty section and specify a
maximum quantity to show in the box next to the Use box.
Configuring the Trade Buttons

Rearranging the Left-Right Order of the Trade Buttons
Right Click on any column of a price row of an order book and a menu will pop up from
which you can select “Configure Trade Buttons”. The trade buttons are the big buttons at
the bottom of an order book that are used to place market orders, reverse positions and
cancel or flatten positions.
Another menu will then pop up from which you may choose to rearrange the left to right
order of the trade buttons and from which you may disable any or all of the trade
buttons.
To rearrange the left to right order of the trade buttons, select “Rearrange”. The trade
buttons will vibrate and their function, if not already disabled, will be suspended until the
rearrangement of the trade buttons is complete. Click, hold and drag each button you
wish to rearrange and place it in the position you desire. When you are done
rearranging the trade buttons, click anywhere on the order book. The buttons no longer
vibrate. They will remain fixed in their location until you rearrange them again and their
functionality will return to the state (disabled or enabled) they were prior to rearranging
them.
Disabling and Enabling the Function of a Trade Button

You may disable or enable the function of a trade button through the “Configure Trade
Buttons” menu. When a trade button is disabled its color is rendered grey.
Placing Simple Orders through the Order Book

Once an instrument, an account, a duration and a quantity have been set, you may place
orders through the Order Book. All orders placed through the Order Book will be submitted for
the instrument and on the account you have set and with the duration and quantity that you
have set.
Market Orders
Click on the button at the bottom of the Order Book labeled “Buy Market” to place an
order to buy at the market. Click on the button at the bottom of the Order Book labeled
“Sell Market” to place an order to sell at the market.
Limit Orders
Click in the Bid Size column, on the row that corresponds to the price at which you
would purchase the instrument, to issue a “Buy Limit” order. Click in the Ask Size
column, on the row that corresponds to the price at which you would sell the instrument,
to issue a “Sell Limit” order. Shortly after the order is confirmed by the exchange as
being open, you should see an entry in the Limit Orders column on the row on which you
clicked, indicating the total quantity the account has open at that price for the
instrument. As the order gets filled, the quantity displayed is reduced and when
completely filled, removed.
Stop (Market) Orders

Set the default price type in the Stop section of the Order Defaults to Market.
Click in the column whose heading is an “S” on the row that corresponds to the stop
price you would like to set. A stop (market) order will be placed immediately. If you
clicked on a row whose price is above the last trade price, then the stop order will be a
buy order. If you clicked on a row whose price is equal to or less than the last trade
price, then the stop order will be a sell order.
Stop Limit Orders

Set the default price type in the Stop section of the Order Defaults to Limit.
Click in the column whose heading is an “S” on the row that corresponds to the stop
price you would like to set. An order ticket will pop up populated with the instrument,
account and quantity displayed in the Order Book, a duration as set in the Duration
section of the Order Defaults and a price type of “Stop Limit”. If you clicked on a row
whose price is above the last trade price, then the order ticket will be set for a buy
order. If you clicked on a row whose price is equal to or less than the last trade price,
then the order ticket will be set for a sell order. In both cases, the limit price and the
stop price will be set to the price displayed on the row on which you clicked. You may
change the quantity, stop and limit price of the order by clicking on the arrows of their
respective boxes or by typing in them directly. Click “Place Order” to submit the order
or “Close” to close the window without placing the order.
Limit If Touched Orders
Set the default price type in the If Touched section of the Order Defaults to Limit.
Click in the column whose heading is a “T” on the row that corresponds to the limit price
you would like to set. An order ticket will pop up populated with the instrument,
account and quantity displayed in the Order Book, a duration as set in the Duration
section of the Order Defaults, a price type of “Limit if Touched”. If you clicked on a
row whose price is greater than or equal to the last trade price, then the order ticket will
be set for a sell order and the trigger price will be set to the best bid price. If you
clicked on a row whose price is less than the last trade price, then the order ticket will
be set for a buy order and the trigger price will be set to the best offer price. Refer to
Appendix B for more information on populating an order ticket for an if touched order.
Click “Place Order” to submit the order or “Close” to close the window without placing
the order.
Market If Touched Orders
Set the default price type in the If Touched section of the Order Defaults to Market.
Click on a row in the column whose heading is a “T”. An order ticket will pop up
populated with the instrument, account and quantity displayed in the Order Book, a
duration as set in the Duration section of the Order Defaults and a price type of
“Market if Touched”. If you clicked on a row whose price is greater than or equal to the
last trade price, then the order ticket will be set for a sell order and the trigger price will
be set to the best bid price. If you clicked on a row whose price is less than the last
trade price, then the order ticket will be set for a buy order and the trigger price will be
set to the best offer price. Refer to Appendix B for more information on populating an
order ticket for an if touched order. Click “Place Order” to submit the order or “Close” to
close the window without placing the order.
Modifying and Cancelling Orders and Flattening Positions through the Order Book
To modify the price of an open order through the Order Book click on an open order indicator
and drag it to the row that displays the price at which you would like the quantity to be filled,
stopped or triggered, as the case may be. A colored bar (usually red) will highlight the price as
you drag the open order indicator as in the Order Book below. When you release it, a request
will be sent to the exchange to modify the relevant price for all orders whose quantity was just
dragged to the price that was last highlighted.
To cancel all open orders represented by a single open order indicator, double click on it.
To cancel all open orders (with respect to the account) for this instrument click on the “Cancel
All” button at the bottom of the Order Book.
To cancel all open orders (with respect to the account) for this instrument and then flatten the
current position of the instrument, click on the “Cncl All & Fltn” button at the bottom of the
Order Book. R | Trade Execution Platform™ will first cancel the account‟s open orders for the
instrument and then issue a market order to flatten (close) its position.
Reversing a Position through the Order Book

To reverse a position of an instrument for an account, i.e. to go from a position of long 5 to a
position of short 5, click on the “Reverse Pos” button at the bottom of the Order Book. A single
market order will be placed with a quantity equal to double the size of your position. The order
will be a “Buy” order if your position is short and a “Sell” order if your position is long.
Placing One Cancel Other Orders through the Order Book

A One Cancels Other order (an OCO, also referred to as One Cancels All) placed through the
Order Book is a set of orders that are placed simultaneously such that when any one of them is
completed (either filled, cancelled or partially filled with its balance cancelled), the others will
be cancelled (or balance cancelled, as the case may be), automatically by R | Trade Execution
Platform™.
To place an OCO through the Order Book you must first put the Order Book into OCO mode.
Click on “Show Bracket and OCO Entry” and then click on the red “Disabled” button in the One
Cancels All box in the top part of the Order Book.
The button will turn green and display “Enabled” indicating that the Order Book is in OCO
mode, as in the Order Book below.
Until the Order Book is taken out of OCO mode (by clicking the button again which will cause it
to turn red and display “Disabled”), clicking to place an order will instruct the Order Book to
include that order in the next OCO order but will not submit that order to R | Trade Execution
Platform™.
Click on the Order Book as if you were placing orders. Upon each click an open order indicator
will appear except that it will be preceded by an asterisk (“*”) indicating that that order will be
part of an OCO order and has not yet been submitted to R | Trade Execution Platform™ (nor to
the exchange). In the Order Book below you can see that a sell limit and a sell stop order will
be part of the next OCO order.
When you have finished organizing the individual orders for an OCO order, click on the blinking)
“Submit” button in the One Cancels All box and the orders will be submitted to R | Trade
Execution Platform™ as an OCO order (and then to the exchange as appropriate). As the
individual orders of the OCO order are confirmed open by the exchange (or confirmed held by R
| Trade Execution Platform™, as the case may be), each order of the OCO order will appear in
the Order Book as usual but preceded by an “o”.
The Order Book above shows 2 individual orders of an OCO order – an order to sell 3 at a limit
price of 82.43 and an order to sell 3 stopped at a price of 82.31.
Continue clicking on the Order Book as if you were placing orders to set up the next OCO order
and then click on the “Submit” button to submit them R | Trade Execution Platform™. Repeat
this to place as many OCO orders as you would like. When you are done placing OCO orders
click on the (green) “Enabled” button to take the Order Book out of OCO mode.
Note: An Order Book cannot be in OCO mode and in Bracket mode simultaneously. If an
Order Book is in Bracket mode and you click on the “Disabled” button in the One Cancels All
box then the Order Book will disable Bracket mode and enter into OCO mode. Disabling the
OCO mode will not put the Order Book back into Bracket mode.
Placing Bracket Orders through the Order Book

A Bracket order is comprised of an entry order and one or more associated OCO orders. As the
entry order gets filled, R | Trade Execution Platform™ (not R | Trader™) automatically places
OCO orders configured to capture a specified profit and configured to limit a specified loss.
To place a Bracket order you must first put the Order Book into Bracket mode. Click on “Show
Bracket and OCO Entry” and then click on the red “Disabled” button in the Brackets box on the
top part of the Order Book. The button will turn green and display “Enabled” indicating that the
Order Book is in Bracket mode, as in the Order Book below.
Next, select a bracket configuration to use from the drop down box next to the “Enabled”
button. Refer to Appendix E for instructions on how to configure a bracket.
Until the Order Book is taken out of Bracket mode (by clicking the “Enabled” button which will
cause it to turn red and display “Disabled”), clicking to place an order will instruct the Order
Book to send that order to R | Trade Execution Platform™ as an entry order together with the
contents of the bracket that was displayed in the drop down box at the time the order was
clicked. The Order Book above shows an open buy entry order for 2 CLU1 at a limit price of
82.35, bracketed. The “[]” surrounding a quantity indicate that the orders for the (open)
quantity are the entry orders of bracket orders. As the open bracket order gets filled, R | Trade
Execution Platform™ places OCO orders consisting of limit orders and corresponding stop
(market) orders based upon the configuration of the bracket that was sent along with the entry
order.
The Order Book above shows OCO orders that were placed as the entry order was filled. The
entry order was a buy order for 5 CLU1 at a limit of 82.37. 3 were filled which caused R |
Trade Execution Platform™ to place 2 pairs of OCO orders. The first OCO pair consisted of a
sell order for 2 CLU1 at a limit price 1 tick above the entry order fill price and a sell market
order for 2 stopped at 5 ticks below the entry order fill price. The second OCO order consisted
of a sell order for 1 CLU1 at a limit price 2 ticks above the entry order fill price and a sell
market order for 1 stopped at 6 ticks below the entry order fill price. As only a quantity of 3
was filled, 2 remain open on the Order Book. The composition of the bracket used to place the
bracket order (A) can be viewed in Appendix E.
You may place as many bracket orders as you wish, subject to your risk limits, by clicking on
the Order Book to place orders while the Order Book is in Bracket mode. When you are done
placing bracket orders click on the (green) “Enabled” button to take the Order Book out of
Bracket mode.
Note: An Order Book cannot be in Bracket mode and in OCO mode simultaneously. If an
Order Book is in OCO mode and you click on the “Disabled” button in the Brackets box then the
Order Book will disable OCO mode and enter into Bracket mode. Disabling Bracket mode will
not put the Order Book back into OCO mode.
Order History
The Order History window displays information similarly to the Recent Orders window.
You may review orders of accounts for which you have permission. Select the account and date
of the orders you wish to review from their respective drop down boxes. Click on the and
the orders for that account on that date, if any, will be displayed, just like in the Recent Orders
window. Double click on an order and its details will be displayed in a pop-up window.
Market Data Trade History
The Market Data History window displays information about trades reported through an
exchange‟s market data channels.
Positions
The Positions window displays information about positions and profit and loss for each account
to which you have access. The upper pane shows the position by instrument and account and
the lower pane shows fill reports for a selected instrument-account pair.
To cancel open orders (if any) and flatten the position of a instrument in an account, click on
the , which by default is located in the leftmost column of the instrument whose position you
wish to flatten.
Quote Board
Use the quote board to view market data and to place new orders.
Viewing Market Data in the Quote Board

There are 2 ways to enter the symbol and exchange ids of the instrument whose market data
you wish to view into a cell of a row:
1. Click on the cell that corresponds to the row on which you wish to view the market data
and to the column labeled "Symbol". Type the symbol in that cell followed by the
symbol-exchange separator (a period "." by default) then followed by the id of the
exchange or other trading venue on which that instrument trades (refer to Appendix C
for a list of exchange and other trading venue ids). Tab out of the cell, press enter or
click outside the cell and the market data for that instrument should appear; or
2. Select an instrument from a search window. You may bring up the Add Symbol search
window by right clicking on the row on which you wish to see the market data and
selecting "Search and Add Symbol" from the ensuing popup window. Refer to Appendix
D for instructions on how to use the Add Symbol window.
In almost all cases the symbol must be of the form recognized by the exchange on which it
trades.
Examples:
CLV1.NYMEX Crude Oil Future traded at the NYMEX expiring in September 2011
ESZ1.CME E-Mini S&P Future traded at the CME expiring in December 2011
ESX1 C1280.CME E-Mini S&P 1280 Call traded at the CME expiring in November 2011
FESX0312.EUREX Euro Stoxx 50 Index future traded at the Eurex expiring in March 2012
LFI0308.LIFFE Three Month Euro Future (Euribor) traded at the LIFFE expiring in March 2012
YMU1.CBOT Mini Dow Jones Future traded a the CBOT expiring in September 2011
Placing Orders from the Quote Board

There are 4 ways to place an order for an instrument from the quote board:
1. Double click on any column in the row showing market data for the instrument you wish
to trade (except the column labeled "Symbol") and an Order Book window will pop up
displaying data for that instrument. You may also right click on that row and select
"Order Book" from the right click pop up menu. Refer to the section on the Order Book
in this document for a description of placing orders from the Order Book window.
2. Click on Show Order Defaults at the top right of the Quote Board window. The bottom
of the Quote Board window will show order defaults which you may modify.
Set the default quantity to trade and the default account to use. You may hide the order
defaults at any time by clicking on Hide Order Defaults at the top right of the Quote
Board window.
Click on either the column labeled “Bid Size” or on the column labeled “Offer Size” of the
row showing market data for the instrument you wish to trade. A click on the "Bid Size"
indicates that a sell order is forthcoming and a click on the "Offer Size" indicates that a
buy order is forthcoming.
a. If the Confirm box in the All Actions section of the order defaults is checked, then
a Place Order window (an order ticket) will pop up, pre-populated with the
symbol and exchange ids of the instrument you wish to trade, with the default
quantity to trade and the default account to use (from the bottom of the Quote
Board window).
i. If you clicked on the “Bid Size” column then the order ticket will be for a
sell order and if the order is a limit order (as indicated in the defaults at
the bottom of the Quote Board window) the limit price will be populated
with the offer price as of the time at which you clicked on the "Bid Size".
ii. If you clicked on the "Offer Size" column then the order ticket will be for a
buy order and if the order is a limit order the limit price will be populated
with the bid price as of the time at which you clicked on the "Offer Size".
Click the "Place Order" button to submit the order and close the order ticket.
Click the "Close" button to close the order ticket without submitting the order.
b. If the Confirm box in the All Actions section of the order defaults is not checked,
then:
i. If you clicked on the “Bid Size” column and if the order is a market order
(as indicated in the defaults at the bottom of the Quote Board window)
then an order to sell at the market will be sent. If the order is a limit
order then an order to sell with a limit price equal to the bid price as of
the time at which you clicked on the "Bid Size" will be sent.
ii. If you clicked on the “Offer Size” column and if the order is a market order
(as indicated in the defaults at the bottom of the Quote Board window)
then an order to buy at the market will be sent. If the order is a limit
order then an order to buy with a limit price equal to the offer price as of
the time at which you clicked on the "Offer Size" will be sent.
of the Quote Board window will show order defaults which you may modify. Set the
default quantity to trade and the default account to use and set the default price type to
Limit. You may hide the order defaults at any time by clicking on Hide Order Defaults
at the top right of the Quote Board window.
Select the row showing market data for the instrument you wish to trade and move your
mouse pointer over the column of that row labeled "Bid Price" or "Offer Price" (or, if the
row showing market data for the instrument you wish to trade has not been selected,
click on the column labeled "Bid Price" or "Offer Price" of that row). A small list,
displaying the prices in a column next to the one in which your mouse is hovering (or
next pt the column in which you clicked) and up to 5 related prices, each 1 tick apart,
will pop up.
The 5 prices will be at and above the price of the bid price if you hovered over or clicked
on the column labeled "Bid Price" and they will be at and below the offer price if you
hovered over or clicked on the column labeled "Offer Price". If the price you wish to
trade is not visible in the pop up list, click on the arrow to advance the prices to the one
you wish to trade.
If the Confirm box in the All Actions section of the order defaults is checked then clicking
on one of the prices will bring up an order ticket with a limit price equal to the price on
which you clicked. The order will be a sell order if you hovered over or clicked on the
column labeled "Bid Price" and the order will be a buy order if you hovered over or
clicked on the column labeled "Offer Price". The order ticket will be pre-populated with
the symbol and exchange ids of the instrument you wish to trade, and with the default
quantity to trade and the default account to use (from the bottom of the Quote Board
window). Click the "Place Order" button to submit the order. Click the "Close" button to
close the order ticket without submitting the order.
If the Confirm box in the All Actions section of the order defaults is not checked then
clicking on one of the prices in the pop up list will automatically submit an order with a
limit price equal to the price on which you clicked for the symbol and exchange ids of the
instrument you wish to trade, and with the default quantity to trade and the default
account to use.
of the Quote Board window will show order defaults which you may modify. Set the
default quantity to trade and the default account to use at the bottom of the Quote
Board window. You may hide the order defaults at any time by clicking on Hide Order
Defaults at the top right of the Quote Board window.
Right click on the row showing market data for the instrument you wish to trade and a
menu will display. Select the Trade sub menu and a list of trading actions will be shown.
Click on the action you wish to execute and an order ticket will pop up appropriately
populated. Alternatively you may press the keystrokes indicated in the Trade submenu
to pop up the order ticket (the "+" sign on the number pad to bring up a buy limit order
ticket, ...).
Though the Place Order window (the order ticket) pops up pre-populated, you may
change the contents of any of the fields. Click the "Place Order" button to submit the
order. Click the "Close" button to close the Place Order window without placing the
order.
Trader Dashboard
The Dashboard window displays position and profit and loss information for each account to
which you have access.
Double click on an account and you will bring up the Symbol Dashboard window. This window
displays position and profit and loss information for each instrument traded in that account.
Right click on an account and you will be able to select from the following options:
View Risk Parameters

View the risk parameters of each product code which may be traded on the selected account.
View Positions
Launch a Positions window for the selected account.
Open Order Book

Launch an Order Book window for the selected account.
Open Options Board

Launch an Options Board window for the selected account.
View Recent Orders

Launch an Actual Orders window for the selected account.
Pull Working Orders

Cancel all working orders for the selected account.
Pull Working Orders and Exit Position

Cancel all working orders then flatten all positions for the selected account.
Future Strategies
The Future Strategies window displays the composition of exchange listed strategy instruments
and real time prices for these instruments, their legs and for the synthetic calculation of the
strategy.
Right click on a strategy instrument and select “Show Order Book” and an order book window
for that strategy instrument will display. If you right click on a line labeled “Synthetic” then an
order book window for the strategy instrument of which the synthetic entry is a part will be
displayed as well as an order book window for each of its legs (the order books will be stacked
on each other but can be moved (dragged) separately).
Placing Orders from the Future Strategies Window

You may place orders for a listed strategy through the Future Strategies window by clicking on
a “Bid” or “Ask” column of the row that corresponds to the strategy you wish to buy or sell. A
click on a “Bid” column price brings up a Place Order window populated to sell the strategy with
and fields containing the default values as set through Show Order Defaults. A click on the
“Ask” column price brings up a Place Order window similarly populated but set to buy the
strategy.
fields that have an associated drop down box. Click the “Place” button to submit the order.
Click the “Close” button to close the Place Order window without placing the order.
Note: As of the date of this publication the calculation of the synthetic value of a
strategy may not be correct in all cases and should not be used in any trading
decisions. Contact your FCM, Broker-Dealer or IB for more information.
Equity Option Strategies
The Equity Option Strategies window displays the composition of exchange listed strategy
instruments and real time prices for these instruments, their legs and for the synthetic
calculation of the strategy.
Right click on a strategy instrument and select “Show Order Book” and an order book window
for that strategy instrument will display. If you right click on a line labeled “synthetic” then an
order book window for the strategy instrument of which the synthetic entry is a part will be
displayed as well as an order book window for each of its legs.
Placing Orders from the Equity Options Strategies Window

You may place orders for a listed strategy through the Equity Options Strategies window by
clicking on a “Bid” or “Ask” column of the row that corresponds to the strategy you wish to buy
or sell. A click on a “Bid” column price brings up a Place Order window populated to sell the
strategy with other fields containing the same contents as the Order Parameters of the Strategy
Board window. A click on the “Ask” column price brings up a Place Order window similarly
populated but set to buy the strategy.
order. Click the “Close” button to close the Place Order window without placing the order.
Note: As of the date of this publication the calculation of the synthetic value of a
strategy may not be correct in all cases and should not be used in any trading
decisions. Contact your FCM, Broker-Dealer or IB for more information.
Synthetic Board
The Synthetic Board displays information about strategy instruments that are not listed on an
exchange. These instruments are defined by users of R | Trade Execution Platform™ and are
visible to any user. A synthetic instrument may be composed of instruments of varying types
(futures, options on futures, exchange listed strategies) and/or instruments that trade on
different exchanges. To create a synthetic instrument, contact the support desk of your FCM,
Broker-Dealer or IB.
To view composition and price information about a synthetic instrument, enter its id in the box
labeled Symbol at the top of the Synthetic Board window and press Enter. If you do not know
its id you may look it up by double clicking in the Symbol box. The Synthetic Board window will
then display the Add Symbol screen showing all synthetic symbols known to R | Trade
Execution Platform™. To add a synthetic symbol to the Synthetic Board, select a symbol and
click on the Add button or merely double click on the symbol you wish to add. You may sort
the rows in the Add Synthetic Instrument window by clicking on the column headings. Click on
the Close button to close the Add Symbol screen.
The weight of a component of a synthetic instrument indicates the number of contracts (or
shares) that would be traded for that component if the synthetic instrument were to be traded.
As the synthetic instrument itself is not tradable on an exchange, trading the synthetic
instrument really means trading its components. Effectively the Synthetic Board enables you to
trade a synthetic instrument by issuing orders to trade its components, weighted accordingly.
By definition, the Synthetic Board will issue orders to buy components that have
positive weights and to sell components that have negative weights when instructed
to buy a synthetic instrument. Conversely it will issue orders to sell components that
have positive weights and to buy components that have negatives weights when
instructed to sell a synthetic instrument.
If you right click on a line in the synthetic board that contains a synthetic instruments‟ id a
small menu will pop up. Select Show Order Book to display an Order book for the synthetic
instrument or select Delete to remove it from the Synthetic Board. Note: An order book for
a synthetic instrument is not capable of placing orders for the synthetic instrument.
Trading a Synthetic Instrument

Once you have set the Quantity, Duration and Account for your trade, you may buy or sell a
synthetic instrument at its calculated market price (more specifically, you may buy or sell the
components of the synthetic instrument at each component‟s current market price) by selecting
the row that displays the synthetic instrument you wish to trade (highlighting it) and then by
clicking on the Buy or Sell button in the box labeled Market in the middle of the top part of the
Synthetic Board.
You may condition the purchase or sale of a synthetic instrument by entering a trigger price in
the box labeled Trigger Price and then by clicking on the Buy or Sell button in the box labeled
Market If Touched. Market if touched orders will then be submitted to and held by R | Trade
Execution Platform™ for each of the components until one of the following conditions is met (at
which time the held orders will be submitted to the exchange):
 If the transaction type is Buy, market orders for the components will be submitted to the
exchange when the offer price of the synthetic instrument is less than or equal to the
trigger price; or
 If the transaction type is Sell, market orders for the components will be submitted to the
exchange when the bid price of the synthetic instrument is greater than or equal to the
trigger price.
The Market If Touched orders are sent as an OCO order with the condition that if one is
cancelled then all are cancelled.
Trade menu options

From the Trade menu you may bring up an order entry ticket (the Place Order window),
configure and manage drip orders, search for instruments to trade and view the easy to borrow
list.
Place Order
The Place Order window is an order ticket. From this window you may configure and place
market, limit, stop and if touched orders.
You may specify a date and time for a new order to be released, you may instruct R | Trade
Execution Platform™ to cancel the unfilled portion of that order at a specified time and/or after
a specified number of seconds have elapsed since it was submitted to the exchange. If you
have access to several accounts, you may use this window to indicate that the quantity to be
filled should be split across several orders according to the contents of a specified template.
Account
Select the account on which the order is to be placed. Only the accounts for which you have
permission to trade are displayed in the Account drop down box.
Exchange
Select the id of the exchange or other trading venue on which you would like to place an order.
Refer to Appendix C for a list of exchange and other trading venue ids. The Exchange drop
down box may show all the exchanges to which R | Trade Execution Platform™ is connected
(not just the exchanges on which you may trade).
Duration
Select the duration of the order to be placed. The Duration drop down box displays all the
durations applicable to the instrument to be order that are supported by R | Trade Execution
Platform™. Refer to Appendix B for details.
Routing Instructions
Some exchanges require routing instructions to accompany an order. If you select such an
exchange then a drop down box will appear from which you may select appropriate routing
instructions.
Trans
Select the transaction type of the order to be placed. The Trans drop down box displays all the
transaction types supported by R | Trade Execution Platform™.
Note: Not all transaction types are applicable to all instruments. For example, Sell Short is not
applicable to futures. Also, some accounts may be restricted from using certain transaction
types. For example, IRA accounts may not be permitted to Sell Short.
Qty
Enter the size of the order to be placed. You may change the size directly or by clicking on the
up and down arrows.
Symbol
Select the symbol that corresponds to the instrument you would like to trade. If that symbol is
not in the Symbol drop down box, type it in.
Price Type
Choose the price type of the order you would like to place. The Price Type drop down box
shows all the price types supported by R | Trade Execution Platform™. Refer to Appendix B
for details.
Limit Price
Upon the selection of a price type that involves a limit price a Limit Price box appears to the
right of the Limit Price box. If the order is a buy order, the Limit Price box is populated with
the current best ask price of the symbol to be traded. If the order is a sell order, the Limit
Price box is populated with its current best bid price. You may change the limit price directly or
by clicking on the up and down arrows. Clicking on the up and down arrows moves the price by
1 tick per click.
Stop Price
Upon the selection of a price type that involves a stop price, a Stop Price box and a Trail By
check box appear to the right of the Price Type box, leaving enough room for a Limit Price box
to appear between them should the price type also require a limit price. If the order is a buy
order, the Stop Price box is populated with the current best ask price of the symbol to be
traded. If the order is a sell order, the Stop Price box is populated with its current best bid
price. You may change the stop price directly or by clicking on the up and down arrows.
Clicking on the up and down arrows moves the price by 1 tick per click.
If you would like the stop price to trail the instrument‟s bid, offer or last trade price check the
Trail By box and a Price Field box and a Ticks box will appear. Select the price that and the
number of ticks from that price that you would like the stop to trail.
Use Max Show Qty

Check the Use Max Show Qty box if you would like to submit an iceberg order. Enter in the
maximum quantity for the exchange to show on your order in the box directly or by clicking on
the up and down arrows.
Use Account Templates

If you have access to multiple accounts and you check the Use Account Templates box you may
select an account template to be applied to the order. When you click on the “Place Order”
button, instead of releasing one order R | Trade Execution Platform™ will release one order for
each account in the template that has a no-zero Qty Ratio, configured identically except that
the quantity of each order will be pro-rated according to the Qty Ratio associated with the
account on the order.
For example, when a place order window shows the order configured as above, using the
template above, clicking on “Place Order” will submit 3 orders. The difference between the
orders will be that the order for account Rithmic1 will have a quantity of 100 shares, the order
for account Rithmic2 will have a quantity of 200 shares and the order for account Rithmic3 will
have a quantity of 300 shares.
Note: If any order in a group generated by using account templates is rejected by R | Trade
Execution Platform™ (risk limits exceeded, …) all of the orders in that group will be rejected.
Release At
If you would like to specify the date and time at which R | Trade Execution Platform™ should
release the order check the Release At box and check the radio button on the left of the boxes
showing a date and time. For example, if you would like R | Trade Execution Platform™ to
release the order at 9:30:05am New York time on November 21, 2011, and the time zone
displayed on the right of “Release At” is CST (central standard time) as you fill out the Place
Order window, set the date and time in the Release At box to 2011-11-21 08:30:05 (which
corresponds to 9:30:05am New York time).
Alternatively you may direct R | Trade Execution Platform™ to release the order when it
receives a message indicating that the symbol has entered a particular trading state (its market
mode). For example, if you would like R | Trade Execution Platform™ to release the order at
market open, check the Release At box, check the radio button to the left of the box showing a
market mode and select “Open” from that box‟s drop down list.
Note: The time zone of the time in the box is always the time zone of your machine (local
time) and is displayed to the right of “Release At”.
Note: If the Release At box is unchecked, then, upon clicking the Place Order button, the order
will be released to the exchange or trading venue as soon as possible.
Cancel At
If you would like to specify the date and time at which R | Trade Execution Platform™ should
cancel the unfilled portion of an order check the Cancel At box and select the time at which the
balance of the order is to be cancelled. For example, if you would like R | Trade Execution
Platform™ to cancel the order at 3:59:55pm New York time on November 21, 2011, and the
time zone displayed on the right of “Release At” is CST (central standard time) as you fill out
the Place Order window, set the date and time in the Cancel At box to 2011-11-21 14:59:55
(which corresponds to 3:59:55pm New York time).
Note: The time zone of the time in the box is always the time zone of your machine (local
time) and is displayed to the right of “Cancel At”.
Cancel After
Check the Cancel After box if you would like R | Trade Execution Platform™ to cancel the
unfilled portion of an order after a specified number of seconds since that order was submitted
to an exchange or trading venue. Enter in the specified number of seconds directly in the box
or you may set/change the specified number of seconds by clicking the up and down arrows.
Close when done

Check this box if you would like the Place Order window to automatically close after you click on
the “Place Order” button. Otherwise the window will remain open (so you do not have to
launch it each time you place an order).
Place Order and Close Buttons

Click the “Place Order” button to submit the order (and close the Place Order window if the
Close when done box is not checked). Click the “Close” button to close the Place Order window
without placing the order.
If Touched Orders
If the price type of the order to be placed is an “If Touched” price type then the Place Order
window expands to display selections that pertain to if touched orders under the heading
“Release Order When”. Refer to Appendix B for details.
Price Field
Select the type of price to be used as part of the evaluation to release the “If Touched”
order. The Price Field drop down box shows all the fields whose prices may be used as
part of the release evaluation. See Appendix B for details.
Symbol
Type in the symbol that corresponds to the instrument whose price (as indicated in the
Price Field box) should be used to evaluate whether or not the “If Touched” order should
be released. This symbol need not be the same as the symbol that corresponds to the
instrument to be traded.
Exchange
Select the exchange or other trading venue on which the instrument, whose price is to
be used to evaluate whether or not the “If Touched” order is to be released, trades.
Refer to Appendix C for a list of exchange and other trading venue ids. The Exchange
drop down box shows all the exchanges to which R | Trade Execution Platform™ is
connected (not just the exchanges on which you may trade). See Appendix B for
details.
Condition
Select the condition (a logical comparison) to be used to evaluate whether or not the “If
Touched” order is to be released. The Condition drop down box shows all the conditions
supported by R | Trade Execution Platform™. See Appendix B for details.
Price
Enter the price to be used as part of the evaluation to release the “If Touched” order.
Drip Orders
Drip orders are orders that are identical (except for their price if a limit price is specified) which
are submitted automatically at regular intervals. On the Drip Orders window you may configure
a new drip order and you may view the drip order parameters of all drip orders for the accounts
to which you have access.
A drip order may be enabled (active) or disabled by any user who has access to the account of
the drip order. The scope of the lifetime of an enabled drip order is the current trading session
(or the next trading session if the market is closed when a drip order is enabled). Regardless of
when a drip order is enabled or the time when its dripping is set to end, a drip order will be
disabled automatically upon receipt by R | Trade Execution Platform™ of a message
indicating that the current trading session has closed.
Creating a Drip Order

You may configure an order through the Drip Order window as you would configure any other
order (see the section on the Place Order window) with a few exceptions:
Buy/Sell
Select Buy or Sell. Other transaction types are not supported.
Limit/Market
Select Limit or Market. Other price types are not supported. If “Limit” is
selected then a drop down box for Price Field and for Tick Offset will appear.
Price Field
Select a price from the Price Field drop down menu. If the price type selected is
“Limit” then the price at which an order will be dripped (submitted) will be based
upon the price as selected in the Price Field at the time the order is to be dripped,
adjusted for the number of ticks in the Tick Offset field. For example, if a drip
order has a price type of Limit and its Price Field is Bid Price and its Tick Offset is
-1, then when an order is dripped it will have a price equal to 1 tick less than the
bid price at the time the order is to be dripped.
Tick Offset
You may set the tick offset directly or by clicking on the up and down arrows. If
the price type selected is “Limit” then the price at which an order will be dripped
(submitted) will be based upon the price as selected in the Price Field at the time
the order is to be dripped, adjusted for the number of ticks in the Tick Offset
field. For example, if a drip order has a price type of Limit and its Price Field is
Bid Price and its Tick Offset is -1, then when an order is dripped it will have a
price equal to 1 tick less than the bid price at the time the order is to be dripped.
Use Account Templates

Not supported.
Drip Interval
Enter the interval (frequency) at which orders are to be dripped (submitted) into
the market.
Start Time
Enter the time (local time as per your computer‟s time zone) at which orders may
begin to be dripped (submitted). The scope of the lifetime of an enabled drip
order is the current trading session (or the next trading session if the market is
closed when a drip order is enabled).
End Time
Enter the time (local time as per your computer‟s time zone) at which dripping
should be stopped. The scope of the lifetime of an enabled drip order is the
current trading session (or the next trading session if the market is closed when
a drip order is enabled).
Once all the parameters for a drip order have been set, click on the Create Drip Order button to
create the drip order.
When a drip order is created it is in a disabled state. To start dripping an order you will need to
enable it. A drip order will not start dripping unless it is in an enabled state.
Drip orders have been designed to be used daily, i.e. the orders that are dripped today, may be
dripped tomorrow without having to be reconfigured. When a drip order is created it is stored
in R | Trade Execution Platform™ so that the state and submission of a drip order will continue
as appropriate, even if you log out or lose your connection to R | Trade Execution Platform™.
Deleting a Drip Order

You may delete a drip order by right clicking on it and selecting Delete.
Disabling a Drip Order

You may Disable a drip order by clicking on the entry in status column (where it shows
Enabled) or by right clicking elsewhere on the drip order and selecting Disable. A drip order
will be disabled automatically upon receipt by R | Trade Execution Platform™ of a message
indicating that the current trading session has closed.
Disabling all Drip Orders

You may disable all drip orders by clicking on the “Disable All Drip Orders” button.
Enabling a Drip Order

You may enable a drip order by clicking on the entry in status column (where it shows
Disabled) or by right clicking elsewhere on the drip order and selecting Enable.
Enabling All Drip Orders

You may enable all drip orders by clicking on the “Enable All Drip Orders” button.
Modifying a Drip Order

You may modify the drip interval (frequency of order submission), the start and end times, the
price field and tick offset of a drip order by clicking on the parameter you wish to change and
entering a new value of that parameter.
Search Symbol
See Appendix D.
Easy to Borrow List

The Easy to Borrow List is a list of symbols for stocks whose shares your broker-dealr has a
reasonable expectation to be able to borrow.
In the picture above, the easy to borrow list is sorted first by whether or not a symbol is
borrowable and then alphabetically by symbol.
Window menu options

The Window menu provides you with several ways to arrange the open windows. It also
provides you with a way to close all windows, view processing exceptions detected by R |
Trader™, view the history of order alerts and set window and application preferences.
Exception Watcher
R | Trader™ records the details of processing exceptions it detects about itself. A listing of such
exceptions can be viewed by selecting Exception Watcher from the window menu. If a
processing exception occurs, you may view its history in this window and then report the
exception to Rithmic Operations Support.
Order Alert History

The Order Alert History window shows orders that failed or were rejected similarly to such
orders shown in the Actual Orders window. This information is available in the Actual Orders
window as well, but for ease of monitoring only failed or rejected orders, this window has been
provided.
Preferences
You may customize various window and application settings through the Preferences window.
Performance
Sometimes the rate at which market data is sent to and displayed by R | Trader™ is faster than
can be discerned by the human eye. If the human eye cannot see all the updates then the
trader cannot react to all of them. CPU cycles (of which there are a finite number on any
machine) spent on displaying all market data updates, when not all can been seen, may be
better spent by R | Trader™ on other tasks or by other applications, especially as market data
rates seem to keep increasing.
You may reduce the amount of CPU used by the Quote Board and Order Book windows by
moving the sliders in the Performance tab of the Preferences window. The lower the slider, the
less frequent these windows will update and the less CPU they will use. By default the sliders
are set to limit these windows to update no more than 10 times per second.
In addition to providing unfiltered market data, some deployments R | Trade Execution

Platform™ are configured to provide aggregated market depth and best bid/ask updates on a
separate channel (the aggregated channel). When so configured, R | Trade Execution
Platform™ forwards best bid/ask and market depth updates periodically on the aggregated
channel while still forwarding all (i.e. unfiltered) market data updates on the regular channel.
Consequently, the aggregated channel requires less CPU to process and publish market data
and less bandwidth to transport the published market data. Likewise recipients of aggregated
market data require less bandwidth to receive it and less CPU to process and display it.
If R | Trader™ detects that the market depth updates and the best bid/ask updates it receives
are aggregated by R | Trade Execution Platform™ then the sliders will show No Max for the
Current Setting and the ability to adjust them will be disabled.
Note: At the time aggregated best bid/ask and market depth updates are published
they are as current as the corresponding market data from the non-aggregated
(unfiltered) channel.
Note: R | Trade Execution Platform™ does not aggregate last trade price and size
(also known as most recent trade price and size).
Contact your FCM, Broker-Dealer or IB‟s support group to find out how to get access to
aggregated market depth and aggregated best bid/ask updates.
Launch Bar
You may toggle the display of the launch bar by checking and un-checking the launch bar
option of the window menu.
Appendix A – Setting and Saving Window

Properties, Filtering, Saving and Sorting Data
Customizing Columns
You may configure the display of data in columns for many of the windows. Right click on the
column header line and a small window will pop up and display several options. Clicking on
“Add/Remove Columns” will bring up a “Column Settings” window, pictured below.
Data for columns which are checked will be displayed; data for unchecked columns will not be
displayed. Clicking on a column in “Column Settings” will allow you to arrange the order in
which columns are displayed (left to right) by moving the column name up or down in the
“Column Settings” window (this change is applied as you click). You may also arrange the
columns of a window by clicking on the column header you wish to move and dragging it to the
desired position. Clicking (left clicking) on a column header will sort the rows by that column.
Sorting Data in Columns

You may sort the data in a window by clicking on a column heading. Subsequent clicks will
toggle the sort between ascending order, descending order and no sort order (data presented
as it was sorted prior to clicking on the column heading). You may apply subordinate sorting
criteria (sort by column 1, then by column 3, then by column 2, ...) by clicking on a column
heading and then by clicking on additional column headings while holding down the shift key.
When subordinate sorting criteria is applied, each column heading to which sorting and
subordinate sorting criteria have been applied will be identified with a number indicating its
precedence in the sort (1 having the highest precedence and applied to the column whose
heading was clicked first).
Filtering Rows
Several windows organize their data by account and/or by user id. If you have access to
multiple accounts you may wish to configure some windows to show activity for specific
accounts and/or for specific users. Use the drop down selection box (or boxes as the case may
be) to select “All” or “Filtered”. Selecting “ALL” will display all accounts (or users as the case
may be) while selecting “Filtered” will bring up a selection window through which you may
indicate which accounts (or users as the case may be) whose information you wish to view.
Advanced filtering by order number, order size or order type can be applied to each window (or
to each pane within a window separately) by clicking on the and icons located near the
top left corner of each window (or pane).
Saving Window Settings and Properties and Saving Data

Each window has its own settings and properties that you can configure. You may save
these settings either to your local machine or to the network. At the top of each window a
set of icons are displayed that when selected, enable you to modify and save a window‟s
various properties and settings, export its data to a .csv file or toggle the organization and
display of a window's data between panes and tabs.
Release the window from the Main Console and allow it to be placed anywhere on
the screen by clicking on the paperclip icon.
Save a window‟s settings by clicking on the cog icon with a picture of a floppy
disk.
Restore a window‟s default settings by clicking on the cog icon with an arrow.
Clone a window by clicking on the icon of 2 sheets of paper.
Manage the fonts, foreground and background colors and grid lines of a window
by clicking on the icon with the letter “T”.
Save the data content of a window to a .csv file by clicking on the icon with the
letter “a” followed by a comma.
Toggle the organization and display of a window's data between panes and tabs.
Grid Lines
Most of the windows display some of their data in a grid format though grid lines may not
always be visible by default. To adjust the position of the grid lines click on a row of the grid
and hold down the Ctrl key. Press the up arrow key to move the gridlines up. Press the down
arrow key to move the grid lines down.
Appendix B – Price Types, Order Duration and

Market Mode
Price Types
Limit
An order with a price type of Limit requires a price to be submitted as part of the order. This
price, known as the limit price, indicates the maximum price the trader will pay on a buy order,
and the minimum price at which the trader will sell on a sell order.
Limit If Touched
An order with a price type of Limit If Touched is a limit order which is held by R | Trade
Execution Platform™ and submitted to the exchange once a particular price of a specified
contract or instrument (the trigger symbol) meets a specified value (the trigger value). The
trigger symbol need not be the same as the contract or instrument of the limit order. For
example:
Buy 10 ESM8.CME at 1300.00 Limit if Touched, Bid Price of YMM8.CME >= 12300
means that R | Trade Execution Platform™ will submit a limit order to the CME to buy 10
contracts of ESM8 at a price of 1300.00, once the bid price of YMM8 at the CME meets or
exceeds 12300.
The valid trigger conditions are: The valid compare fields are:
!= (not equal to) Bid Price
< (less than) Last Price (Last Trade Price)
<= (less than or equal to) Offer Price (Ask Price)
= (equal to)
>= (greater than or equal to)
> (greater than)
The trigger symbol and the contract or instrument to be traded need not be the same.
Additionally, the trigger symbol need not be a tradable (real) contract or instrument. For
example, if R | Trade Execution Platform™ provides real time index values or synthetic
instrument price calculations, the symbols identifying such indices and/or synthetic instruments
can be used as trigger symbols.
Market
An order with a price type of Market is an order that will be filled by the exchange at the best
available price. A buy order will be filled at the best available offer price and a sell order will be
filled at the best available bid price.
When the quantity on a Market order is greater than the quantity available at the best price,
not all exchanges treat the unfilled balance of the Market order the same way. Some
exchanges convert the balance of the unfilled Market order to a Limit order at the price at which
the Market order was partially filled; others may continue to fill the Market order at the next
best prices until the Market order is filled completely. While other exchanges may continue to
fill the Market order at the next best prices until it is filled completely, subject to some limits on
the prices (offering some price protection for trading contracts or instruments that have thin
and sparse sizes on their order book). Refer to an exchange‟s website for information on how
it treats the balance of unfilled market orders.
Note: Some exchanges (or other trading venues) do not support Market orders and some
exchanges do not support Market orders for certain instrument types. Where a Market order is
not supported by an exchange (or other trading venue) natively, R | Trade Execution Platform™
may simulate a Market order by sending a limit order with a price equal to an instrument‟s
current best price offset by a specified number of ticks. For a buy order the limit price will be
equal to the instrument‟s current best offer price, as known to R | Trade Execution Platform™
at that instant, plus a specified number of ticks. For a sell order the limit price will be equal to
the instrument‟s current best bid price, as known to R | Trade Execution Platform™ at that
instant, minus a specified number of ticks. The specified number of ticks by which a best price
is offset is determined by you FCM, Broker-Dealer or IB. See below for a list of exchanges and
other trading venues that do not support Market orders.
Market If Touched
An order with a price type of Market If Touched is a market order which is held by R | Trade
Execution Platform™ and submitted to the exchange once a particular price of a specified
contract or instrument (the trigger symbol) meets a specified value (the trigger value). The
trigger symbol need not be the same as the contract or instrument of the limit order. For
example:
Sell 5 CLK8.NYMEX Market if Touched, Offer Price of UHO FMK0008!.ICE <= 3.2221
means that R | Trade Execution Platform™ will submit a market order to the NYMEX to sell 5
contracts of CLK8, once the offer price of UHO FMK0008! at the ICE meets or drops below
3.2221.
The valid trigger conditions are: The valid compare fields are:
!= (not equal to) Bid Price
< (less than) Last Price (Last Trade Price)
<= (less than or equal to) Offer Price (Ask Price)
= (equal to)
>= (greater than or equal to)
> (greater than)
The trigger symbol and the contract or instrument to be traded need not be the same.
Additionally, the trigger symbol need not be a tradable (real) contract or instrument. For
example, if R | Trade Execution Platform™ provides real time index values or synthetic
instrument price calculations, the symbols identifying such indices and/or synthetic instruments
can be used as trigger symbols.
Stop Limit
An order with a price type of Stop Limit is a limit order that is held by the exchange and
inserted into an instrument‟s order book once that instrument trades at or worse than a
specified price (the stop price). For example:
Buy 6 ESU8.CME at 1300.25, Stop Limit at 1299.75
means that the CME will enter an order to buy 6 ESU8 with a limit price of 1300.25 into the
ESU8 order book when ESU8 trades at the CME at a price of 1299.75 or higher. Similarly:
Sell 7 NQM8.CME at 1825.00 Stop Limit at 1825.75
means that the CME will enter an order to sell 7 NQM8 with a limit price of 1825.00 into the
NQM8 order book when NQM8 trades at the CME at a price of 1825.75 or lower.
When a stop is triggered the corresponding Limit order becomes active. A stop is considered to
have triggered when an instrument trades at or worse than the stop price (at or worse for a
buy order means greater than or equal to the stop price, at or worse for a sell order means less
than or equal to the stop price). When constructing a Stop Limit order, the stop price for a buy
order should be greater than the current trade price of the instrument and the limit price should
be greater than or equal to the stop price; the stop price for a sell order should be less than the
current trade price of the instrument and the limit price should be less than or equal to the stop
price. If the stop price were less than or equal to the current trade price for a buy order, the
stop would trigger upon receipt of the Stop Limit order by the exchange and the corresponding
limit order would become active immediately. Similarly, if the stop price were greater than or
equal to the current trade price for a sell order, the stop would trigger upon receipt of the Stop
Limit order by the exchange and the corresponding limit order would become active
immediately. Some exchanges may reject such Stop Limit orders.
Not all exchanges accept Stop Limit orders and not all exchanges accept Stop Market orders for
all instruments. When a Stop Market order is not supported by an exchange R | Trade
Execution Platform™ holds a Stop Market order until the stop triggers and then submits a
Market order to the exchange. In contrast to an exchange (which usually compares a
stop price with the last trade price), R | Trade Execution Platform™ considers a stop
to have triggered when the offer price of the instrument in a buy order becomes
greater than or equal to its stop price and, for a sell order, when the bid price of the
instrument becomes less than or equal to its stop price. See below for a list of
exchanges and other trading venues that do not support Stop Limit orders.
Stop Market
An order with a price type of Stop Market is a market order that is held by the exchange and
inserted into an instrument‟s order book once that instrument trades at or worse than a
specified price (the stop price). For example:
Sell 4 ESZ8.CME Stop Market at 1350.25
means that the CME will enter an order to sell 4 ESZ8 at the market into the ESZ8 order book
when ESZ8 trades at a price of 1350.25 or lower. Similarly:
Buy 3 NQU8.CME Stop Market at 1816.75
means that the CME will enter an order to buy 3 NQU8 at the market into the NQU8 order book
when NQU8 trades at the CME at a price of 1816.75 or higher.
When a stop is triggered the corresponding Market order becomes active. A stop is considered
to have triggered when a instrument trades at or worse than the stop price (at or worse for a
buy order means greater than or equal to the stop price, at or worse for a sell order means less
than or equal to the stop price). When constructing a Stop Market order, the stop price for a
buy order should be greater than the current trade price of the instrument; the stop price for a
sell order should be less than the current trade price of the instrument. Otherwise the stops
would trigger upon receipt of the Stop Market order by the exchange and the corresponding
market order would become active immediately - some exchanges may reject such Stop Market
orders.
When a stop is triggered, some exchanges convert the market order to a limit order (with a
limit price based upon a formula specific to that exchange) and enter the limit order into the
instrument‟s order book. Refer to an exchange‟s website for information on how it treats stop
market orders when the stop is triggered.
Not all exchanges accept Stop Market orders and not all exchanges accept Stop Market orders
for all instruments. When a Stop Market order is not supported by an exchange R | Trade
Execution Platform™ holds a Stop Market order until the stop triggers and then submits a
Market order to the exchange. In contrast to an exchange (which usually compares a
stop price with the last trade price), R | Trade Execution Platform™ considers a stop
to have triggered when the offer price of the instrument in a buy order becomes
greater than or equal to its stop price and, for a sell order, when the bid price of the
instrument becomes less than or equal to its stop price. See below for a list of
exchanges and other trading venues that do not support Stop Market orders.
Exchange and Other Trading Venues that do not Support Certain Price Types
Not all exchanges or other trading venues support all price types and when a price type is
supported, it may not be supported for all instrument types (for example, sometimes Market
orders are not supported for options). Furthermore, R | Trade Execution Platform™ may
implement its own version of that price type for an exchange or other trading venue whether or
not it is supported natively by that exchange or other trading venue.
The table below indicates the exchange and synthetic price types supported by R | Trade
Execution Platform™.
Exchange Stop Stop Exchange Stop Stop

Id Market Limit Id Market Limit
AEX Synthetic Synthetic LIFFE-EQ Synthetic Synthetic
BATS Synthetic Synthetic LIFFE Synthetic Synthetic
BMF Synthetic MATIF Synthetic Synthetic
BYX Synthetic Synthetic NLX Synthetic
CBSX Synthetic Synthetic OSE Synthetic Synthetic
EUREX Synthetic RTS Synthetic Synthetic
FORTS Synthetic Synthetic RTSST Synthetic Synthetic
IDEM Synthetic Synthetic SGX Synthetic Synthetic
TDEX Synthetic
Contact your FCM, Broker-Dealer or IB‟s support group to find out if an exchange or other
trading venue limits its support for certain price types to certain instrument types.
Order Duration
Order duration, also known as time in force, indicates the maximum time an order can remain
open on the books of an exchange. R | Trade Execution Platform™ supports the following order
durations:
Order
Order Duration Description
Duration Id
Any unfilled balance of a Day order is cancelled by the exchange

DAY or Day automatically at the close of the trading day on which it was
submitted to the exchange.
Upon receipt by an exchange, an FOK order (Fill or Kill) is filled

FOK* completely or, if it cannot be filled completely, it is cancelled in its
entirety.
Any unfilled balance of a GTC order (Good „Till Cancelled) remains

open and on the books of the exchange until specifically cancelled by
GTC
the trader or until the maximum time allowed by the exchange for a
GTC order to remain open has transpired.
Upon receipt by an exchange, an IOC order (Immediate Or Cancel)

IOC is filled to the extent possible and any unfilled balance, up to and
including the entire order, is cancelled.
* R | Trade Execution Platform™ supports FOK orders only on the following exchanges/venues:
1C, BMF, BTEC, CBOE, CBOT, CBSX, CFE, CME, COMEX, DME, ICE, ICE-OTC, KCBT,
KRCX, MEXDER, MGEX, NLX, NYBOT, NYMEX, SGX, WCE but is not yet available through
R | Trader™.
Market Mode
The Market Mode of an instrument indicates the status of its order book at the exchange on
which it trades. Each exchange has its own set of market mode indicators and meanings.
Some exchanges have one set of market modes for futures and another set of market modes
for options on futures. Refer to an exchange‟s website for information on its market modes.
The table below shows the market modes that are common across the exchanges to which R |
Trade Execution Platform™ connects:
R | Trade Execution Platform™

Market Mode Market Mode Description
Action
When a new trading day for this

instrument will begin shortly, the
A new trading day will begin shortly previous day‟s trading statistics for
for this instrument or trading will the instrument are cleared:
resume shortly after a trading halt open, high and low trade price,
or trading suspension. Generally, last trade price and size,
Pre-Open limit orders may be accepted and net change and % change,
cancelled but none will be matched daily trade volume
until trading matching of the
instrument opens. and positions in all accounts for
this instrument are netted and
marked to the previous day‟s close
trade price or settlement price.
Trading matching of this instrument

Open or
in the new trading day has begun
Normal
and is proceeding normally.
A final profit and loss message is

published for each account that
placed an order for this instrument
Trading matching of this instrument during the current trading day.
End of Day for the current trading day has
ended. The best bid price, size and order
count and the best ask price, size
and order count are cleared. Close
trade price is published.
Appendix C – Exchange and Other Trading Venue

Ids
The exchanges and other trading venues to which R | Trade Execution Platform™ connects may
vary from deployment to deployment.
The exchanges and other trading venues to which R | Trade Execution Platform™ can connect
are listed in the following table:
Exchange
Exchange Name Access Line
Id
1C One Chicago CBOE
AEX Amsterdam Exchange LIFFE
BATS BATS “Z” Exchange BATS
BMF BM&FBOVESPA Globex
BYX BATS‟s “Y” Exchange BATS
CBOE Chicago Board Options Exchange CBOE
CBOT Chicago Board of Trade Globex
CBSX CBOE Stock Exchange CBOE
CFE CBOE Futures Exchange CBOE
CME Chicago Mercantile Exchange Globex
COMEX COMEX Commodity Exchange Globex
DME Dubai Mercantile Exchange Globex
EUREX Eurex Eurex
FORTS Russian Trading System Futures and Options RTS
ICE The Intercontinental Exchange ICE
ICE-OTC The Intercontinental Exchange (OTC) ICE
IDEM Italian Derivatives Exchange Market IDEM
KCBT Kansas City Board of Trade Globex
KRX Korea Exchange Globex
LIFFE London International Financial Futures Exchange LIFFE
LIFFE-EQ London International Financial Equities Exchange LIFFE
LME London Metals Exchange LME
MATIF Marché à Terme International de France LIFFE
MEFF Mercado Español de Futuros Financieros MEFF
MEXDER Mexican Derivatives Exchange Globex
MGEX Minneapolis Grain Exchange Globex
MX Montreal Exchange MX
NYBOT New York Board of Trade ICE
NYMEX New York Mercantile Exchange Globex
NLX NYSE LIFFE US NYSE LIFFE US
OSE Osaka Stock Exchange OSE
RTS Russian Classica Trading System RTS
RTSST Russian Standard Trading System RTS
SGX Singapore Exchange SGX
TDEX Tokyo Derivatives Exchange TDEX
WCE Winnipeg Commodity Exchange ICE
Appendix D – Add Symbol

Several windows that display market data allow you to enter symbols into the window directly
or through the Add Symbol window. The left side of the window displays a list of exchanges
and venues known to your deployment of R | Trade Execution Platform™. The right side of the
window allows you to enter criteria that will be applied to your exchange and/or venue
selections.
Searching for Symbols within an Exchange or within All Exchanges

If you do not know the exchange (or venue) on which an instrument trades, select (highlight)
“Exchange” from the list on the left and enter your best guess of the first few (a minimum of 2)
letters of the instrument‟s description in the box on the right. If you do know the exchange on
which the instrument trades then select it from the list on the left instead of “Exchange”. Click
on the icon on the right to start a symbol search. To interrupt the search just click on the
icon.
If you know the instrument type of the instrument you wish to trade then select it from the
“Find” drop down box at the top of the window. By default the search will look at an
instrument‟s description when matching the letters entered in the box at the right. You may
change the search to look at an instrument‟s symbol instead of its description by clicking on the
radio button to the left of the word “Symbol” as in the picture below.
Searching for Symbols within a Product Group of an Exchange

If you know the product group to which the instrument you wish to trade belongs, click on the
“+” sign to the left of the exchange on which it trades. The “+” sign will become a “-” sign and
a list of popular product groups will appear underneath the exchange. If that product group is
not shown in the popular list, click on the “+” to the left of “All Products” and all product groups
for that exchange will be shown.
Double click on the product group to which the instrument you wish to trade belongs to start
the search. At any time you may stop the search by clicking on the icon.
As with searching through an entire exchange or across all exchanges you may narrow your
search by selecting an instrument type from the drop down box at the top of the window and/or
entering at least 2 letters in the box on the right. You may also direct the search to look at an
instrument‟s symbol instead of its description by clicking on the radio button to the left of the
word “Symbol”.
Refining Your Search

Once you have obtained a set of instruments from a multi-exchange, single exchange or
product code search (the initial symbol set), you may refine you search. Click on “Search
within these…” and the Add Symbol window will transform a bit to provide you with a
mechanism to specify search criteria to be applied to the initial symbol set.
Type a set of characters in the box in the middle of the top part of the window, click on the
Symbol or Description radio button (as above) and then click on the icon. R | Trader™ will
search within the initial symbol set for all instruments whose symbol or description, as the case
may be, contain the characters as shown in the box (the characters need not begin the symbol
or description as the initial search requires). For example, if you were to type “z9” in the box
above and apply it to the symbols in the initial symbol set pictured above, you would see a list
of symbols similar to the ones pictured below.
Each instrument in the list obtained by the refined search (the secondary symbol set) contains
the letters “z1” (case independent) somewhere in its symbol.
Adding a Symbol to the Window that Launched the Add Symbol Window
To insert an instrument into the window from which the Add Symbol window was launched
double click on the instrument or highlight it and click the button labeled “Copy Symbol” at the
bottom.
Appendix E – Understanding and Configuring

Brackets
What is a Bracket?
A bracket is a set of orders that are placed around an open position to simultaneously establish
a point at which the open position should be closed and profits taken or losses realized and
limited. A bracket is used to limit, or bound (or bracket), a position‟s profit and loss.
A Bracket order combines an entry order, which when filled or partially filled, establishes an
open position around which brackets are then placed, and a series of OCO orders that are
placed to implement the bracket. One part of the OCO order is a limit order, the other is a stop
(market) order.
A bracket can be configured in tiers or levels. For example, if an entry order for a buy quantity
of 6 is filled, the bracket may be configured to close the position and take profits by placing an
order to sell a quantity of 2, 1 tick above the price at which the 6 were filled, a quantity of 2, 2
ticks above the price at which the 6 were filled and a quantity of 2, 3 ticks above the price at
which the 6 were filled, as in the Configure Brackets window below. Correspondingly, the
bracket may be configured to dump 3 at market when the price of the instrument falls 5 ticks
below the price at which the 6 were filled and 3 at market when the price of the instrument falls
7 ticks below the price at which the 6 were filled.
The price levels for taking profit are called target ticks or target levels. The price levels for
realizing and limiting losses are called stop ticks or stop levels.
Note: The quantity of an entry order may never exceed the lesser of (a) the sum of the target
quantities of a bracket or (b) the sum of the stop quantities of the bracket. Consequently, a
bracket may be configured to handle quantities larger than required for a particular entry order.
Configuring brackets to handle larger than required entry order quantities enables you to use
such brackets on orders containing various entry quantities without having to have one bracket
for each entry quantity.
Creating a New Bracket

To configure a bracket click on the button labeled “Config” located in the Brackets box on the
left of the top part of the Order Book. A Configure Brackets window will pop up empty if you do
not have any brackets configured. Otherwise, select a bracket to view from the drop down box.
You may create a new bracket either by selecting (and even modifying) an existing bracket,
overwriting its name and saving it, or by starting with a clear Configure Brackets window. If
you have not previously saved any brackets then the Configure Brackets Window will be clear.
Otherwise to start with a cleared window, click on the “Clear Window” button.
Type the name in the Bracket Name box under which the bracket configuration will be identified
and saved. Click in the Target Ticks boxes to set the target levels (in ticks) for this bracket.
Click in a Target Qty box next to a Target Ticks box to set the quantity for that target level.
Click in the Stop Ticks boxes to set the stop levels (in ticks) for this bracket. Click in a Stop Qty
box next to a Stop Ticks box to set the quantity for that stop level.
You may change the target ticks levels and associated quantities and the stop ticks levels and
associated quantities by clicking in the box you wish to change. Type in a new value directly or
click on the arrows to change the value. You may delete a Target or Stop level by right clicking
on that level and selecting Delete from the pop window.
Save the bracket configuration by clicking on the “Save” button.
When you are done creating brackets click on the “Close” button.
Deleting a Bracket
To delete a bracket click on the button labeled “Config” located in the Brackets box on the left
of the top part of the Order Book. Select the bracket you wish to delete from the drop down list
and click the “Delete” button.
When you are done deleting brackets click on the “Close” button.
Modifying a Bracket
To modify a bracket click on the button labeled “Config” located in the Brackets box on the left
of the top part of the Order Book. Select the bracket you wish to modify from the drop down
list.
You may modify the target ticks levels and associated quantities and the stop ticks levels and
associated quantities of the bracket by clicking in the box you wish to change. You may type in
a new value directly or click on the arrows to change the value. You may delete a Target or
Stop level by right clicking on that level and selecting Delete from the pop window.
Save the modified bracket configuration by clicking on the “Save” button.
When you are done modifying brackets click on the “Close” button.

R Trader Trader's Guide

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R Trader Trader's Guide

Uploaded by

Trader’s Guide

ONE BLUE HILL PLAZA, 10TH FLOOR WWW.RITHMIC.COM

ONE BLUE HILL PLAZA, 10TH FLOOR 877 RITHMIC SALES

Copyright 2011 Rithmic, LLC.

Rithmic™, R | Trade Execution Platform™, R | Trader™, R | Manager™ and R | API™ are

is a trademark of Omnesys Technologies, Inc.

Limit Orders ........................................................................................................................................................... 32

SEARCHING FOR SYMBOLS WITHIN AN EXCHANGE OR WITHIN ALL EXCHANGES ............................................................ 85

Machine Configuration and Network Resource

Operating System and .NET Framework Requirements

Operating Systems Windows 7

Machine and Network Recommendations

CPU Single Dual Core or more

Installation and Login

R | Trader™ is distributed as a standard Windows Installer file

Once the .msi file is copied to your machine, run it to install

Logging into the

File menu options

Note: A trading day may begin on a prior calendar day.

Rithmic Platform Transit Time and Elapsed Time

Modifying an Order through the Recent Orders Window

Cancelling an Order through the Recent Orders Window

Viewing Order Details

Viewing Market Data Trade History around the Time of an Order

Placing Orders from the Future Options Window

Placing Orders from the Options Board Window

Order Book Basics

Setting and Selecting an Instrument to View and/or Trade

Setting and Selecting an Account

Average Open Fill Price

Bid and Offer Sizes and Counts

Last Trade Price and Net Change

Centering the Price Rows

Freezing the Movement of the Price Rows

Viewing Multiple Order Books within a Single Order Book Window

Standard Open Order Indicators

Setting Order Defaults

Max Show Quantity

Configuring the Trade Buttons

Disabling and Enabling the Function of a Trade Button

Placing Simple Orders through the Order Book

Stop (Market) Orders

Stop Limit Orders

Limit If Touched Orders

Market If Touched Orders

Reversing a Position through the Order Book

Placing One Cancel Other Orders through the Order Book

Placing Bracket Orders through the Order Book

Market Data Trade History

Viewing Market Data in the Quote Board

Placing Orders from the Quote Board

View Risk Parameters

Open Order Book

Open Options Board

View Recent Orders

Pull Working Orders

Pull Working Orders and Exit Position

Placing Orders from the Future Strategies Window

Equity Option Strategies

Placing Orders from the Equity Options Strategies Window

Trading a Synthetic Instrument

Trade menu options

Use Max Show Qty

Use Account Templates

Close when done

Place Order and Close Buttons

Creating a Drip Order

Use Account Templates

Deleting a Drip Order

Disabling a Drip Order

Disabling all Drip Orders

Enabling a Drip Order

Enabling All Drip Orders

Modifying a Drip Order

Easy to Borrow List

Window menu options