M-Trade User GuideSubheading (optional)

Getting started | Updating profile | Setting up Quote Watch | Order Entry | Using Preset Orders | Order Activity | Cancelling/Replacing Orders

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) â€" 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 â€" 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.)