Download User Guide (PDF) - NCI Finance

Trading with FFastFill
1. Introduction
This guide consists of useful tips for users which are easy to read and quick to perform. It will cover the use of limit orders,
stop orders, and the iceberg function.
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2. Customising the workspace
There are many different ways of customising the workspace to suit the user’s needs (for a more detailed explanation of
all the features, please refer to the latest User Guide by going to [Help], [Contents]). In the example below, we have
removed some of the columns which can be done by left clicking on the column heading, bringing up the column chooser,
and hiding the unwanted columns,
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Next, go to [Tools], [Options], [Window] and tick the below boxes ‘Allow window redocking’ and ‘Allow windows to be
docked into each other’. Enabling this will allow users to tidy their view of the application and access sections of the
application more easily.
3. Colour coding filled orders
To colour code filled orders, go to [Tools], [Options] then tick ‘Colour code filled orders’.
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The filled orders in the Orders View will then change from the single colour scheme shown to a colour coded Orders View,
showing filled buy trades in blue and sell trades in pink – see below:
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To Exit
4. Save the workspace
From the main window select [File], [Exit]. If the ‘Ask to allow application shutdown’ options is set (in the [Options] –
[General dialog settings]), you will be asked to confirm the shutdown. Click ‘OK’.
Save workspace on shutdown
If the ‘Ask to save workspace on shutdown’ option is set (in the [Options] – [General dialog settings]), the ‘Save
Workspace’ prompt is displayed.
Enter a name for your workspace (or choose from an existing entry from the list to overwrite). Click ‘OK’ to Save
Preference settings or ‘Cancel’ to discard. You can enable this workspace to be shared with other Traders in your Trader
group if you wish. If you make and changes to the screen settings, it is important to remember to save the workspace.
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Placing orders
Please remember that the LME’s Select system operates a strict order priority so that you may lose the initial ranking of
your order if you amend if prior to the order being filled. This is particularly the case if you increase the order volume or
decide to delete it and subsequently reinstate at a later point. If you wish to increase the size of your existing order, it is
usually better to enter a new order for the additional amount rather than increasing the size of the existing order.
1. Submitting an order
An order ticket will generate if the trader right clicks at a price and changes the price, volume, Buy or Sell as desired.
Note: If you right click on a Buy order, it is a Buy by default and if you right click on a Sell order, it is a Sell by default.
2. Limit
The trader determines the volume and price at which the order will be submitted to the market. The order will be
executed at that price or better:
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3. Stop Limit (Stop Loss)
Stop Limit (Stop Loss) orders are triggered when the pre set level is traded on LME Select. For example, if the order ticket
is set to ‘Volume 10’ and ‘Price 7450’, as soon as 7450 trades, the stop is triggered and the order will be worked at the
price of 7450. If the market goes below this limit, no trades are executed. When triggered, this attempts to trade the
desired number of lots, but within the price limit that has been set. The order stays in the system as a limit order for the
rest of the day.
It is possible to set a limit on a stop order. In this example, the limit is set $10 below the stop level of 7450. When 7450 is
triggered, this attempts to trade the desired number of lots, down to the price limit of 7440. Again, any unfilled orders will
remain in the system as price limit orders.
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4. OCO orders
An OCO (One Cancels Other) order consists of two linked orders – if one is filled, the other is cancelled.
To bring up an OCO ticket, open a normal order ticket, then click the icon next to [Price]. This opens an OCO order ticket.
To create the first order, fill in the relevant details as you would normally, and click ‘Add’.
Fill in the details for the second leg. The order below shows the first leg as a limit order, to BUY 10 at a price of 39500.
The second leg is a stop order, to BUY 10 on a stop at 39400. If you need to remove a leg, highlight it and click ‘Delete
Leg’.
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Once you have completed the second order, click ‘Submit OCO’. The order will show in the orderbook as two separate
orders. Once an order is filled, the second order will be pulled from the market. The same functionality on Stop Limit
orders is described in the previous pages.
5. Random Icebergs
In addition to being able to iceberg an order into the market, you are now able to randomise both the volume and the
time at which orders are submitted. Select [Iceberg] from the order types. This opens up the ‘Advanced Iceberg Options’.
The trader can choose [Random Clip] and change the [Min] and [Max] lottage as required.
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Note: Iceberg orders do not guarantee a fill even if the market trades through your limit as new orders are only submitted
once the first tranche is filled. During this short delay in submitting the second order, other trades can take place.
6. Good Till Date (GTD) & Good Till Cancel (GTC)
Good Till Date requires that the order is held in the system until the conclusion of the trading date specified.
To implement this feature, the user must select the drop down menu at the bottom of the order ticket, using the double
arrow >> which switches to

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Hints
1. Filled / Part Filled Order Alerts
If you would like an alert when you are filled or part filled on an order:
Select [Tools] and [Options]
Select [Orders] tab, and ensure the circled window is enabled:
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Now whenever an order is filled or part-filled, you will see a message window like the one shown below:
2. Duplicating Orders
If you are re-entering a pulled order, or wish to duplicate a previous order’s details – highlight the chosen order in your
orderbook, and select [Duplicate] from the tabs menu.
An order ticket will appear, duplicating the previous order’s details. You can amend the order details if you wish, before
executing the order. This will create a new order in the market, with a separate Order ID.
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3. Tracking the Orders
The orders window can be opened by clicking the [Orders] button. The trader can select from the list of available filters to
view selected orders immediately.
The [Orders] window shows the full details of all the orders placed during one trading day. Filled and pulled orders are
removed from this view by acknowledging them. To acknowledge an order, click anywhere on the order. Filled orders that
are acknowledged are moved to the ‘Filled orders’ view.
4. Adjust, Hold and Pull Orders
When terminating the application, all working orders will automatically be pulled. Working orders can be pulled by a
trader at any time, by clicking the ‘Pull’ button for the orders.
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COLUMN
Pull
History
Order ID
Exchange
Type
Description
Order Type
Qty
Price
Qty Done
Client
Status
Buy / Sell
Open / Close
Order No.
Order ID
Trader
Adjust
Hold
Submit
DESCRIPTION
Pull the selected order
View the history of the order
Order identification
Name of exchange where the order was submitted
Type of order - if placed on Future or Option
Description of order (maturity dates)
Type of order (for details on Order type, go to Order Types)
Submitted quantity
Submitted price
The quantity done before now
Name of the client on whose behalf the order was submitted
Order ststus
Buy or Sell order
Opening or closing order
Order number at the exchange
Application order ID
Name of the trader who submitted the order
Click to adjust the particular order
Click to hold the order (Only available when the order has an Active status)
Click to submit the order with 'Held' status
To adjust an order, click on ‘ADJ’, this will bring up the ticket, where you can change the volume or price, then click
‘Update’.
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