ICE

ICE

Adding an ICE account

To add an ICE 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 for ICE, enter the LMA or SMA account name.

  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 ICE 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:

    • Routing Member ID — Sets the order routing company, if more than one level of order routing occurs. The Routing Member ID populates Tag 115 left (Tag 115 left = Routing Member ID| Tag 115 right = Authorized Member ID). This field is optional and has a limit of 20 characters. If not provided, then Tag 115 left is a duplicate of Tag 115 right.
    • Authorized Group ID — Sets the originating desk or group of the originating company (Authorized Member). The Authorized Group ID populates Tag 144 right in order actions sent to the exchange and is required for order routing. This field is user-defined and has a 20 character limit. Tag 114 left is hard-coded by TT and sent to the exchange.
    • Exchange Account — A unique user-defined value requested by the trading company’s administrator and created by the clearing firm. The clearing firm sets limits and determines the tradable products for each account. Required for an SMA account. Sent to the exchange as Tag 440.
    • Clearing Firm ID — A numeric value created by ICE and assigned to the appropriate clearing firm. Some firms may consist of different regional entities with each assigned a unique ID. Required for SMA. Sent to the exchange as Tag 439.
    • Account Code — Defines the type of account used for order routing and clearing. Select one of the exchanged-defined account management codes from the drop down menu. Required for an LMA account. Sent to the exchange as FIX Tag 9195.
    • CTI Code — Sets the type of user who is placing orders with this account. This value is sent to the exchange as FIX Tag 9208. Select one of the customer type identifier (CTI) values from the drop down menu. Required for LMA-US/Canada.
    • NYBOT House Number — A numeric value similar to the Clearing Firm ID but created by NYBOT and assigned to the appropriate clearing firm. Some firms may consist of different regional entities with each assigned a unique house number. Required for LMA-US. Sent to the exchange as Tag 439.
    • WCE House Number — A numeric value similar to the Clearing Firm ID but created by WCE and assigned to the appropriate clearing firm. Some firms may consist of different regional entities with each assigned a unique house number. Required for LMA-Canada. Sent to the exchange as Tag 439.
    • Direct Electronic Access — Sets whether or not the order is sent from direct/sponsored access, or from another source. Valid values:
      • None
      • Yes
      • No

      Sent to the exchange as Tag 9700-DirectElectronicAccess. Required by the exchange for MiFID II.

    • Trading Capacity &mdash: Indication of dealing on own account (DEAL), matched principal (MTCH), or any other trading capacity (AOTC). Valid values:
      • Deal
      • Match
      • Any other capacity

      Sent to the exchange as Tag 9701-TradingCapacity. Required by the exchange for MiFID II.

    • Liquidity Provision — Indication of market making. Valid values:
      • None
      • Yes
      • No

      Sent to the exchange as Tag 9702-LiquidityProvision. Required by the exchange for MiFID II.

    • Commodity Derivative Indicator — Indication of whether the order is for hedging purposes to reduce risk. Valid values:
      • None
      • Yes
      • No

      Sent to the exchange as Tag 9703-CommodityDerivIndicator. Required by the exchange for MiFID II.

    • Investment Decision ID — User or firm who made the trading decision. Enter a registered ID/Short Code.

      Sent to the exchange as Tag 9704-InvestmentDecision. Required by the exchange for MiFID II. Enter up to 15 integers. Only numeric values are supported.

    • Execution Decision ID — User or firm that submitted the order. Enter a registered ID/Short Code.

      Sent to the exchange as Tag 9705-ExecutionDecision. Required by the exchange for MiFID II. Enter up to 15 integers. Only numeric values are supported.

    • Client ID — Customer identification. Enter the customer's legal entity identifier (LEI/Short Code).

      Sent to the exchange as Tag 9706-ClientIDCode. Required by the exchange for MiFID II. Enter up to 15 integers. Only numeric values are supported.

    • MiFID II — MiFID II profile ID. Enter up to 15 integers. Numeric values only. Required for firms who register and use a single code instead of entering MiFID order tags 9700-9706.
  5. Click Save Changes.