Adding a CFE account

To add an CFE account:

  1. Click Accounts in the left navigation pane.
  2. Click +New Account at the top of the Accounts screen.

    The Account Information section is displayed.

  3. In the Account Name/Number field when creating an account, enter the up to 10-character exchange-provided account name, which is required for order routing. For an internal sub-account, enter the up to 10-character exchange-provided account name. The user's routing/clearing account is sent to the exchange as Tag 440. If the user has an internal sub-account mapped to a routing/clearing parent account, the sub-account is routed to the exchange as Tag 1 and the parent account is sent as Tag 440.

  4. If this is a sub-account, select a "parent" account in the Parent field.
  5. Click the Type field and select an account type.

    Use this field to define the routing behavior for the account. All order routing is based on user account. Select one of the following:

    • Routing (external clearing): Defines the parent account as a clearing account sent to the exchange on all orders. If assigned to a user, the account appears in the user's list of routable accounts. When selected by a user, the account is used to route orders and identify the account to the exchange (e.g, FIX Tag 1). If configuring this account as an omnibus account, select this option. If an internal sub-account is assigned to a parent account, the sub-account inherits the exchange connectivity of the parent account.

      Note: For exchanges that send the account name as Tag 1, you can override Tag 1 by entering a "Clearing Account Override" located on the account's Exchanges tab.

    • Routing (internal sub-account): Defines the account as a sub-account that is not routed to the exchange. This allows you to assign the user to an internal account for routing and risk purposes, even though a parent account will be sent to the exchange as the actual clearing or omnibus account.
    • Non-Routing: Not sent to the exchange. Recorded internally and can be used for back-office purposes or as a parent risk account that allows you to group a set of sub-accounts together and set risk for the non-routing parent.

  6. To prevent order crossing using this account or any of its sub-accounts, click the Order Cross Prevention field and select an order crossing rule. The TT Trade application performs the following order actions based on which rule is selected:
    • Not Applied — No order cross prevention rule is applied to the account.
    • Reject New — Reject a new order that could potentially fill resting orders in the same account or account tree. Applies to only Limit orders and native Iceberg orders.
    • Cancel Resting (wait for ACK) — Send a cancel request to the exchange for the resting order. When the exchange acknowledges the request and cancels the order, submit the new order. Applies to only Limit orders and native Iceberg orders.
    • Position Transfer — When a match is detected, the resting order is canceled or the working order quantity is reduced by the size of the aggressive order. A fill is created by TT and sent to each account. If the aggressive order was larger than the resting order, then the remainder of it will be sent to market. For a description of how Position Transfer works, refer to Position Transfer.

    • Position Transfer (if resting order is best bid/offer) — This rule works the same as Position Transfer except that the internal matching occurs only if an order has the potential to fill a resting order at the current best bid/ask price.

      Note: When using this rule, the resting order may get matched and filled at the exchange while the aggressive order is in flight.

  7. Optionally, check one of the following options:
    • Disable trading (this account only) — Disables trading for this account. This checkbox is checked by default.
    • Disable trading (sub-accounts) — Disables trading for all child accounts of this parent account.
    • Disable trading (autoliquidate) — Checked automatically after auto-liquidate is triggered on an account. Increase the credit limit and uncheck this option to restore trading to a liquidated account. This setting can only be checked by the Setup application when an account is liquidated (i.e., you cannot manually check this setting).
  8. Click Create.

    The new account appears in the Accounts list in the left navigation pane. Sub-accounts appear as nested under their parent account.

Configuring CFE exchange properties

  1. Click Accounts in the left navigation pane and select an account in the data grid.
  2. Click the Exchanges tab for the selected account.
  3. Click the Select an Exchange selector to find and select an exchange.
  4. Configure the settings in the Exchange Properties section.

    Configure the following settings:

      Account codes for CFE are sent to the exchange as FIX Tag 47 and identify to the exchange the type of account used for order routing and clearing. The CFE exchange properties for an account are listed under the Account Code setting:

      • Member, House Account
      • Firm
      • Non-Member, House Account
      • Member, Market Maker Account
      • Member, Customer Segregated Account
      • User Proxy for Trader, Customer Segregated Account
      • Customer
      • User Proxy for Trader, House Account
    • The Clearing Account Override field can be used to override the TT account value in Tag 440 on order actions sent to the exchange. If the user has an internal sub-account mapped to a routing/clearing parent account, the sub-account is routed to the exchange as Tag 1 and the parent account name is replaced with the Clearing Account Override as Tag 440.

      The clearing account override name is user-defined and this field is optional. By default, the user's TT clearing account is sent in Tag 440.

  5. Click Save Changes.