Unit 10: The Trader Workstation
The
trader workstation is the terminal from which the member accesses the trading
system.
Each
trader has a unique identification by way of Trading Member ID and User ID
through which he is able to log on to the system for trading or inquiry
purposes.
Table
1: Financial Impact of Cash and Futures
Financial Derivatives A Trading
Member can define a hierarchy of users of the system with the Corporate Manager
at the top followed by the Branch Manager and Dealers.
The
‘Market Watch’ window contains a list of quotes, which are constantly updated.
The
market watch window is the third window from the top of the screen which is
always visible to the user.
The
‘Market Watch’ window has a context menu, which can be accessed by
right-clicking on a symbol.
Prices
in the “Market Watch” window have different colours.
In
order to quickly add a symbol to the “Market Watch” window you should
double-click with the left mouse button anywhere outside the list of turned on
symbols.
When
you open this window, it contains the same set of symbols as are displayed in
the main ‘Market Watch’ window.
Trading
tab allows performing trade operations with a single mouse click.
In
other words, when a trader presses the “Sell” or “Buy” button, a request to
perform a trade operation of a specified volume is instantly sent to the
server.
For
both the futures and the options market, while entering orders on the trading
system, members are required to identify orders as being proprietary or client
order.
The
NEAT F&O trading system also enables to enter spread/combination trades.
Figure
10.
4
shows the spread/combination screen.
This
enables the user to input two or three orders simultaneously into the market.
In
order to provide a facility for easy arbitrage between futures and cash
markets, NSE introduced basket-trading facility.
This
enables the generation of portfolio offline order files in the derivatives
trading system and its execution in the cash segment.
Basket
Trading: This enables the generation of portfolio offline order files in the
derivatives trading system and its execution in the cash segment.
Market
by price (MBP): MBP enable the user to view passive orders in the market
aggregated at each price and are displayed in order of best prices.
Market
watch window: The Market Watch window is the main area of focus for a Trading
Member.
On
line back up: An on line back up facility is provided which the user can invoke
to take a back up of all order and trade related information.
Snap
Quote: The Snap Quote feature allows a Trading Member to get instantaneous
market information on any desired security.
Ticker
Window: The ticker displays information about a trade as and when it takes
place.
Ticks:
This tab of the Market Watch window allows viewing tick charts inside the
Market Watch window.
Title
bar: The title bar displays the current time, Trading system name and date.
Trader
Workstation: The trader workstation is the terminal from which the member
accesses the trading system.
