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M-Trade Placing an Order
Placing an Order
To enter an order in MTrade, follow these steps:
1. Highlight and select the desired order entry page option (Future, Future Option, Spread or Spread Option) from the Trade menu.
Result: The selected order entry page displays.
Note: To set a default display Trade page, refer to the Updating Profile topic in the previous section.
2. Enter the Account # (for brokers) or select from the drop-down list box (for retail users).
Note: To view a list of all assigned accounts, highlight and select the Accounts option from the Profile menu.
3. Enter the applicable contract data in the corresponding fields.
Note: Refer to the tables below for a description of order price and duration types.
4. Click the Preview Order button.
Result: The Confirm order window displays.
5. Click the Send Order button to submit the order.
Result: The Sent Order confirmation window displays.
Note: Each order is assigned a Ticket #, which can be viewed on the Working Order page of the Activity menu. See next section for detail.
Note: Each order requires validation by Man Financial’s Automated Risk System (MARS). If MARS accepts the order, it is sent to the Exchange and becomes a Working order. If there is a problem with the order, it is automatically rejected and displays on the Dead Order page (for brokers) – or it is sent to Man’s broker desk for review and displays on the Working Order page with a Pending status (for retail users). To view these pages, refer to the Order Activity section of this guide.
To view a list of order price types, refer to the following table.
|
Order |
Type Description |
|
LMT |
Limit order, for which the customer sets a limit on the price of execution. Enter a value in the Limit Price field when selecting this order type. |
|
MIT |
Market if Touched; becomes a market order if and when the market hits the specified price. Enter a value in the Stop Price field when selecting this order type. |
|
MKT |
Market order, for which the customer requests immediate execution at the best available price. |
|
MOC |
Market on Close order, for which the customer requests execution during the close of trading in that market, within the closing range of prices. |
|
MOO |
Market on Open order, for which the customer requests execution as soon as the market opens, within the opening range of prices. |
|
STP |
Stop order, for which the customer requests execution when the market hits the specified price – above (buy order) or below (sell order) current market price. Enter a value in the Stop Price field when selecting this order type. |
To view a list of order duration types, refer to the following table.
|
Day Order |
Expires at the end of the current trading day. |
|
GTC |
Order Good Until Canceled; order remains open until canceled. (Option is not available for market orders.) |
|
GTD |
Order Good Until Date canceled; expires at the end of the trading day on the date you specify in the GTD Date field. (Option is not available for market orders.) |
Futures and options trading involve substantial risk.
