Risk Administration

Risk Administration

Position Management

As a company administrator, use the settings on the Accounts | SOD/Credit tab to:

  • Automatically roll positions and create SOD records after a position reset at the exchange.
  • Override the exchange reset time for the account.

Position Reset

The "position reset" functionality in the TT system provides a seamless 24-hour trading period that automatically resets with the exchange session roll times, or, at a specific time defined by an administrator. At position reset time, fills from the previous trading day are removed from the order book and optionally turned into start-of-day (SOD) records that are priced at settlement.

How Position Reset Works

By default, new accounts reset positions in each market at each market's session roll time (as set by TT). For example, at 16:38 CST, CME product positions are reset, and at 17:31 CST ICE product positions are reset. This default mode allows users to trade multiple markets without having to worry about setting a single reset time. Additionally, administrators can choose to override the default position reset time by selecting a time and timezone that applies to all accounts in the hierarchy. This allows administrators to choose a specific time to reset, typically because the company resets the account credit setting daily after marking to market.

Note: Accounts created prior to August 6, 2016 used the Position Reset Override. To switch to using the system default position reset, uncheck the Position Reset Override option. This change will cascade to all of the account's sub-accounts as well.

For accounts, at the beginning of a TT Session, Available Credit is set to the account-level Daily Limit setting. If the account has Create start-of-day (SOD) records checked, then any positions from the previous exchange session are converted to SOD records and priced at Settlement. If the account has Create start-of-day (SOD) records unchecked, positions from the previous session are not included.

Note: The position reset functionality in TT calculates a user's position in an account based on the fills for the exchange session that has already closed, and not for fills that occur in trading sessions after that time. If using a position reset override, TT recommends setting the position reset time after the close of the last exchange trading session for an account.

Position Reset Times per Exchange

Note: When using Position Reset override, it's a best practice to set the account position reset to occur after the reset times listed below. If using an override, parent and child accounts need to be set to the same position reset time.

ASX

  • reset time — 16:50:00
  • timezone — Australia/Sydney

BTEC

  • reset time — 18:00:00
  • timezone — America/New_York

CFE

  • reset time — 15:20:00
  • timezone — America/Chicago

CME

  • reset time — 16:37:00
  • timezone — America/Chicago

ERIS

  • reset time — 17:05:00
  • timezone — America/New_York

eSpeed

  • reset time — 17:45:00
  • timezone — America/New_York

EEX

  • reset time — 22:45:00
  • timezone — Europe/Berlin

Eurex

  • reset time — 22:45:00
  • timezone — Europe/Berlin

Euronext

  • reset time — 23:00:00
  • timezone — Europe/Amsterdam

HKEx

  • reset time — 1:10:00
  • timezone — Asia/Hong_Kong

ICE

  • reset time — 18:30:00
  • timezone — America/New_York

ICE_L

  • reset time — 0:00:00
  • timezone — Europe/London

KCG

  • reset time — 17:45:00
  • timezone — America/New_York

LME

  • reset time — 21:00:00
  • timezone — Europe/London

NDAQ_EU

  • reset time — 19:30:00
  • timezone — Europe/Oslo

NFX

  • reset time — 17:01:00
  • timezone — America/New_York

OSE

  • reset time — 3:30:00
  • timezone — Asia/Tokyo

SGX

  • reset time — 04:50:00
  • timezone — Asia/Singapore

Position reset override

As an administrator, you can choose to override the exchange reset time with a specific time. Position reset is configured in the Account Position Settings section.

Position Reset Override Example

In this example, an administrator enables a position reset override of 7:00 PM Asia/Singapore time for an account trading SGX products. For SGX, the exchange reset time is 4:50 AM Asia/Singapore time.

At each of these times, positions behave as follows:

  1. 4:50 AM — No position reset occurs. Fills from yesterday remain in a trader's Positions widget as positions in the Trade application.
  2. 4:50 AM to 7:00 PM — No position reset occurs. Fills from yesterday and fills from 4:50 AM to 7:00 PM remain in the Positions widget as positions.
  3. 7:00 PM — Because a position reset override time of 7:00 PM is enabled for SGX, positions remain in the Positions widget until this time. At 7:00 PM, any SGX fills received before 4:50 AM will be converted to SODs or removed, and fills received after 4:50 AM will remain as positions until reset the next day.