FEX provides a Tailored Strategy Market (TSM) that allows you to build and trade your own strategies. Using the Strategy Creation widget, you can create user-defined TSM strategies supported on the exchange.
When creating an FEX TSM strategy on TT, consider the following:
User-defined options and futures strategies with up to eight legs can be created using the Strategy Creation widget. Enter an instrument, ratio, and side for each leg. You can click Cover for covered options strategies.
When you click "Create" for a user-defined TSM strategy, it appears in the execution report panel at the bottom of the widget. TT checks for duplicate strategies and prevents them from being created in the Strategy Creation widget. The following statuses are displayed in the Status column:
After creating the TSM strategy on TT, an RFQ must be manually broadcast to all market participants before an order can be submitted, which creates the instrument at the exchange.
Note: Ensure that you have selected an account for the specific exchange where you'll be submitting the RFQ. Account selection for RFQs is set up in Preferences | Accounts.
To manually submit an RFQ for the user-defined TSM strategy, click the button in the RFQ column in the Strategy Creation execution report panel. The instrument can then be viewed in the RFQ Viewer widget. Multiple RFQs can be submitted for the same instrument.
You can submit an order for the TSM instrument after 30 seconds and before 5 minutes have elapsed by monitoring the Elapsed column in the RFQ Viewer. After 5 minutes of submitting an RFQ, orders are not typically submitted, but this requirement may not be enforced by FEX.
In addition to displaying the user-defined TSM strategy in the Market Grid and opening an Order Ticket, you can right-click a created TSM instrument in Strategy Creation to open an Order Ticket to submit an order.
When submitting an order: