Configuring care order permissions

Staged care order permissions can be assigned as part of assigning a user to an account using the Accounts | Users tab, or when assigning an account to a user using the Users | Accounts tab.

Note: Care order permissions are not part of enabling TT OMS for your company. Users can submit and manage staged orders based on their user or account order permissions without OMS being enabled for your company by TT.

Setting care order user permissions for an account

1. Click Accounts in the left navigation pane.
2. To select an account, click the check box next to an account in the grid. Multiple accounts can be selected.
3. Click the Users tab for the selected account and click the Add button in the Users section.

   The Select users screen appears.

4. Click on one or more users in the Select Users screen and click Select.

   The selected user is displayed in the Users section. The Order Permissions and Additional Permissions sections also appear for the selected user.

   

   Note: If an account name is listed in the Inherited column, it indicates that the user assignment and permissions for the selected account were "inherited" from this parent account.

5. Set the order permissions.

   The following care order (also known as staged order) permissions are set when assigning an account to a user, or assigning a user to an account.

   • Submit Staged Orders — When this option is checked, it allows the user to place a staged order into the selected account and sub-accounts.

     A user can view their own staged orders. As the staged order is filled, the user receives fills in the staged order's original account, even if the child orders for the parent staged order are executed in different accounts by the owner who claimed the staged order. Risk limits are applied to the user and user's account that submitted the staged order.

   • Only Allow Price Improvements on Child Orders — Restricts care order owners from changing the Limit price on child orders to be worse (i.e., cannot buy higher or sell lower) than the Limit price sent on the original parent care order. When the checkbox is checked, the owner can only better the trade for child orders. When unchecked, the owner can also better the trade for the parent care order. This setting is unchecked by default, and owners can change the price of both the parent care order and child order regardless of the parent order Limit price.

     Note: To use this setting, you must also disable the Manage Staged Orders without Claiming setting. In order to be "held to price", you need to operate in an "ownership" model where you need to claim an order first before you can work it

   • Manage Staged Orders without Claiming — Allows a user to have full access to care orders regardless of the claimed/unclaimed state of the order. Check the checkbox to enable this option. When enabled, Manage Own Staged Orders, Manage Orders Staged by Others, and Unclaim Orders Owned by Others are also enabled by default.

   • Manage Own Staged Orders — When this option is checked, it allows the user to manage (i.e., claim/unclaim and potentially execute on-behalf-of) their own staged orders that were submitted into the selected account and sub-accounts.

     In order to view an inbound staged order, potential owners must have this option set and have access to the staged order account. All orders in the account, both staged and non-staged orders, are viewable by all users assigned to the account.

     When unchecked, this option prevents a user from claiming his own staged orders.

     Uncheck this setting and check Manage Orders Staged by Others to allow users to only manage orders staged by others.

     Note: To set this option, the Submit Staged Orders option must be checked.

   • Manage Orders Staged by Others — Allows the user to manage (i.e., claim/unclaim and potentially execute on-behalf-of) any staged orders submitted into the selected account and sub-accounts that he did not submit. If Submit Staged Orders and Manage Own Staged Orders are also checked, then the user can also manage his own submitted staged orders.

     In order to view a staged order, potential owners (i.e, users that claim staged orders) must have this option set and have access to the staged order account. All orders in the account, both staged and non-staged orders, are viewable by all users assigned to the account.

     If you want to restrict which contracts a user can submit as staged orders, the risk limits should be set on the user, the user's account, or the user's parent account.

     If position transfer is enabled on a parent or child account with a claimed staged order, then the owner (user who claimed the staged order) can manually choose to do a position transfer with his own account and the staged order account if they are both in the same position transfer-enabled account hierarchy. This creates two opposing manual fills that leaves the originator (user who submitted the staged order) with the position he wants and the owner with an opposing position.

     When the owner executes on behalf of a staged order, all of the limits on the owner’s execution accounts that were used for the child orders, and any parent accounts of those execution accounts, are applied. The originating user's limits are not applied at this time, as the originator’s limits have already been checked when the order was staged.

     Note: To set this option, the Submit Staged Orders option must be checked.

   • Unclaim Orders Owned by Others - Allows a user to unclaim their own staged order that has been claimed by another user. This will force the claimed care order back to “Available” status.

     Note: This setting is enabled by default when Manage Staged Orders without Claiming is checked.

6. Click Save Changes.

Setting care order account permissions for a user

1. Click Users in the left navigation pane.
2. To select a user, click the check box next to a user in the grid. Multiple users can be selected.
3. Click the Accounts tab for the selected user and click the +Add button in the Accounts section.

   The Select Accounts screen appears.

4. Click on one or more accounts in the Select Accounts screen and click Select.

   The selected account is displayed in the Accounts section. The Order Permissions and Additional Permissions sections also appear for the selected account.

   

   Note: If an account name is listed in the Inherited column, it indicates that the user assignment and permissions for the selected account were "inherited" from this parent account.

5. Set the order permissions.

   The following care order (also known as staged order) permissions are set when assigning an account to a user, or assigning a user to an account.

   • Submit Staged Orders — When this option is checked, it allows the user to place a staged order into the selected account and sub-accounts.

     A user can view their own staged orders. As the staged order is filled, the user receives fills in the staged order's original account, even if the child orders for the parent staged order are executed in different accounts by the owner who claimed the staged order. Risk limits are applied to the user and user's account that submitted the staged order.

   • Only Allow Price Improvements on Child Orders — Restricts care order owners from changing the Limit price on child orders to be worse (i.e., cannot buy higher or sell lower) than the Limit price sent on the original parent care order. When the checkbox is checked, the owner can only better the trade for child orders. When unchecked, the owner can also better the trade for the parent care order. This setting is unchecked by default, and owners can change the price of both the parent care order and child order regardless of the parent order Limit price.

     Note: To use this setting, you must also disable the Manage Staged Orders without Claiming setting. In order to be "held to price", you need to operate in an "ownership" model where you need to claim an order first before you can work it

   • Manage Staged Orders without Claiming — Allows a user to have full access to care orders regardless of the claimed/unclaimed state of the order. Check the checkbox to enable this option. When enabled, Manage Own Staged Orders, Manage Orders Staged by Others, and Unclaim Orders Owned by Others are also enabled by default.

   • Manage Own Staged Orders — When this option is checked, it allows the user to manage (i.e., claim/unclaim and potentially execute on-behalf-of) their own staged orders that were submitted into the selected account and sub-accounts.

     In order to view an inbound staged order, potential owners must have this option set and have access to the staged order account. All orders in the account, both staged and non-staged orders, are viewable by all users assigned to the account.

     When unchecked, this option prevents a user from claiming his own staged orders.

     Uncheck this setting and check Manage Orders Staged by Others to allow users to only manage orders staged by others.

     Note: To set this option, the Submit Staged Orders option must be checked.

   • Manage Orders Staged by Others — Allows the user to manage (i.e., claim/unclaim and potentially execute on-behalf-of) any staged orders submitted into the selected account and sub-accounts that he did not submit. If Submit Staged Orders and Manage Own Staged Orders are also checked, then the user can also manage his own submitted staged orders.

     In order to view a staged order, potential owners (i.e, users that claim staged orders) must have this option set and have access to the staged order account. All orders in the account, both staged and non-staged orders, are viewable by all users assigned to the account.

     If you want to restrict which contracts a user can submit as staged orders, the risk limits should be set on the user, the user's account, or the user's parent account.

     If position transfer is enabled on a parent or child account with a claimed staged order, then the owner (user who claimed the staged order) can manually choose to do a position transfer with his own account and the staged order account if they are both in the same position transfer-enabled account hierarchy. This creates two opposing manual fills that leaves the originator (user who submitted the staged order) with the position he wants and the owner with an opposing position.

     When the owner executes on behalf of a staged order, all of the limits on the owner’s execution accounts that were used for the child orders, and any parent accounts of those execution accounts, are applied. The originating user's limits are not applied at this time, as the originator’s limits have already been checked when the order was staged.

     Note: To set this option, the Submit Staged Orders option must be checked.

   • Unclaim Orders Owned by Others - Allows a user to unclaim their own staged order that has been claimed by another user. This will force the claimed care order back to “Available” status.

     Note: This setting is enabled by default when Manage Staged Orders without Claiming is checked.

6. Click Save Changes.