Exchange-specific functionality in MD Trader
MD Trader exposes some additional buttons to support exchange-specific order functionality.
ICE, Eurex, and EEX
The ICE, Eurex, and EEX exchanges allow you to indicate whether an order opens or closes a position. To support this functionality, MD Trader displays an Open/Close toggle button, as shown:
MiFID II exchanges
For exchanges that need to comply with the MiFID II regulations, the Show order entry compliance fields setting in the Orders section of Preferences can be enabled to add compliance fields to MD Trader.
The items added include:
CDI (Commodity Derivative Indicator) dropdown that lets a user report whether a trade is reducing risk, also referred to as a hedging trade. The dropdown supports the following choices:
- <CDI>: Use the value defined in Setup.
- CDI Yes: This order is a hedging trade.
- CDI No: This order is not a hedging trade.
- Invest Decision ID field for the short code identifying who made the trading decision.
- Exec Decision field for the short code identifying who or what algo is submitting the order.
- Client ID field for the short code identifying the customer.
If specified, these values override the default order profile settings defined in Setup.
The BrokerTec exchange supports passive and aggressive orders. To support this functionality, MD Trader displays a A/P (aggressive/passive) toggle button that indicates whether you want to place a passive or aggressive order.
- Aggressive orders hit or take passive orders in the market. When the button is A, orders are entered to hit the bid or take the offer.
- Passive orders rest in the market waiting for an aggressive order to hit or take them. When the button is P, orders are entered as passive bids and offers.
By default, all orders sent using MD Trader are Aggressive.