Euronext

Euronext

Adding a Euronext account

To add a Euronext 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 Euronext 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 Code — Defines the type of account. Sent to the exchange as Account Code in the exchange API. This setting is required for order routing. Select one of the following options:

      • Client
      • House
      • Market Maker
      • Give Up
    • Clearing Instruction — Defines how trades are cleared in the account. Sent to the exchange as Clearing Instruction in the exchange API. Select one of the following options:
      • Undefined
      • Manual
      • Automatic
      • Automatic and account verification
      • Manual and account verification
      • Give-up to a single firm
    • Customer Order Capacity — Sets the type of user placing orders with the account. Sent to the exchange as CustOrderCapacity. Select one of the following options:

      • Own account
      • Clearing members house account
      • Account of another member present
      • Any other customer account
    • Clearing Account Override — This field can be used to override the external routing account value in Tag 440 on order actions sent to the exchange. The optional clearing account override name is user-defined. By default, the user's external routing account is sent to the exchange. The clearing account override value is sent to the exchange if the routing account is configured with Account Type set to Routing (external clearing).

      Note: A user-level clearing account override setting takes precedence over the account-level setting.

    • Account Info — Free-form text field to provide additional information on the order. Enter text up to 14 characters.
    • Give-up Type — Identifies the role of the Give-up account. Required when Clearing Instructions is set to Give-up to a single firm. Sent to the exchange as PartyRole. Select one of the following:

      • Give-up Clearing Firm
      • Trader Mnemonic
    • Take up — Identifies to whom the Give-up order is allocated. Required when Give-up is set. Enter a clearing member mnemonic or trader ITM provided by the exchange. Sent to the exchange as PartyID.
    • Direct Electronic Access — Indication of whether or not the order is sent from direct/sponsored access, or from another source. Required if Account Code is "Client" or "House." Valid values: Yes or No. Sent to the exchange as Tag 21017-DEAIndicator.
    • Trading Capacity — Indication of dealing on own account (Deal), matched principal (Match), or any other trading capacity. Sent to the exchange as Tag 21051-TradingCapacity.
    • Commodity Derivative Indicator — Indication of whether the order is for hedging purposes to reduce risk. Select either True or False. Required if the instrument is a commodity derivative or warrants with a commodity underlying. Sent to the exchange as Tag 20126-CommodityDerivIndicator.
    • Investment Decision ID — Indication of who or what algo made the trading decision. Required if Account Code is "Market Maker," "Give Up," or "House." Enter an up to eight-byte integer Short Code up. Sent to the exchange as Tag 20053-InvestmentDecisionWFirmShortCode.
    • Execution Decision ID — Indication of who or what algo submitted the order. Enter an up to eight-byte integer Short Code. Sent to the exchange as Tag 20128-ExecutionWithinFirmShortCode.
    • Client ID — Identification of the customer (LEI/Short Code). Enter an up to 8-byte integer value. Required if Account Code is "Client" or if Direct Electronic Access is "True". Sent to the exchange as Tag20051-ClientIdentificationShortCode.
    • Client Can Override — Sets whether the user can override the Value for the selected Field when submitting an order. Check the check box to allow a user to override the value. When unchecked, the field is locked and the user cannot change the value. This setting is unchecked by default.

      Note: Because required fields vary by exchange, this setting may be grayed out based on your exchange settings for the profile being configured.

  5. Click Save Changes.