Graybox™ - Trade-UA

Graybox – User Manual_v3.63
1
Graybox™
User Manual
Ver 3.63
Hold Software.com, Inc
All Rights Reserved, Copyright © Hold Software.com, Inc 2011
Graybox – User Manual_v3.63
2
CONTENTS
1.
Introduction ................................................................................................... 8
2.
Graybox Basics .............................................................................................. 9
2.1. Logging on to Graybox ............................................................................. 9
2.2. Main Window ......................................................................................... 10
2.3. Customizing Layout ................................................................................ 12
2.4. Changing Password ................................................................................ 13
2.5. User Entitlements .................................................................................. 14
3.
Graybox Windows ......................................................................................... 15
3.1. Active Orders Window ............................................................................ 15
3.1.1. Order Details Window ..................................................................... 16
3.2. Messages Window .................................................................................. 17
3.2.1. View Selections ............................................................................. 17
3.3. Position Window .................................................................................... 18
3.4. Executions – Ticker Window .................................................................... 23
3.5. Notifier ................................................................................................. 23
4.
Order Entry ................................................................................................. 25
4.1. Market Maker – mini Order Entry window .................................................. 25
4.1.1. Setting Order Type ........................................................................ 26
4.1.2. Set Order Price .............................................................................. 27
4.1.3. Set Order Quantity ......................................................................... 27
4.1.4. Switching between Live and Custom Mode ........................................ 27
4.1.5. Time in Force ................................................................................ 27
4.1.6. Buy & Sell ..................................................................................... 28
4.1.7. Setting Destination Exchange, Routing Modes & Strategies ................. 28
4.1.8. Add & Remove Liquidity .................................................................. 29
4.1.9. Setting Routing Order Buttons ......................................................... 29
4.1.10.
Cancel All open orders. ............................................................. 30
4.2. ECN Order Entry Windows ....................................................................... 30
4.2.1. Sending ARCA/BATS/TRAC/INET/RASH Buy Entry .............................. 31
4.2.2. Sending ARCA/BATS/TRAC/INET/RASH Sell Entry .............................. 32
4.2.3. Sending ARCA/BATS/TRAC/INET/RASH Short Sell Entry ...................... 32
4.3. Preference Window ................................................................................ 33
4.4. Trailing Stops– Buy/Sell .......................................................................... 34
4.5. Changing a Floating Order ...................................................................... 36
4.6. Canceling an Order ................................................................................ 37
4.7. Manual Order Entry Window .................................................................... 38
5.
Graybox Configuration .................................................................................. 39
5.1. Configuring Trading Options .................................................................... 39
5.1.1. Default Quantity ............................................................................ 40
Graybox – User Manual_v3.63
3
5.1.2. Order Entry, Positions Window Mode, & Level 2 Order Settings ............ 41
5.1.3. Time In Force ................................................................................ 42
5.1.4. IOC Mode ..................................................................................... 42
5.1.5. ECN\Exchange Routing Mode ........................................................... 43
5.1.6. Display Size Defaults/ECN ............................................................... 43
5.1.7. Scroll settings for Maximum and Minimum Qty .................................. 44
5.1.8. Default Quantity Per Stock .............................................................. 44
5.1.9. Optimization ................................................................................. 44
5.1.10.
Other Settings ......................................................................... 45
5.2. Setting Up Smart Order Routing .............................................................. 45
5.2.1. Split Order by Display Size .............................................................. 47
5.3. Dynamic Smart Orders ........................................................................... 47
5.4. The Super ECN Key ................................................................................ 47
5.5. Direct Super ECN Key ............................................................................. 48
5.6. Multiple Swipe Keys ............................................................................... 48
5.7. Setting Up Keyboard Shortcuts ................................................................ 50
5.8. Trailing Stop Order................................................................................. 51
5.9. Showing or Hiding Parts of Graybox Main Window ...................................... 52
5.10.
Mini OE Setup .................................................................................. 52
5.11.
Graybox Main Window – Setting Colors ............................................... 53
5.12.
Graybox Main Window – Setting Font.................................................. 53
5.13.
Graybox Main Window – Setting Sounds ............................................. 54
5.14.
Changing Server and Router Settings ................................................. 55
5.15.
Links .............................................................................................. 55
5.16.
Cancel Order ................................................................................... 56
5.16.1.
6.
Cancel/Replace Orders -Hotkeys ................................................ 58
Market Maker Window Configuration ............................................................... 59
6.1. Market Maker Window ............................................................................ 59
6.1.1. Level 1 Display .............................................................................. 60
6.1.2. Level 2 Display .............................................................................. 61
6.1.3. Prints ........................................................................................... 64
6.2. Time & Sales ......................................................................................... 67
6.3. ECN Book Window .................................................................................. 69
6.3.1. Changing the Colors ....................................................................... 70
6.3.2. Changing the Font ......................................................................... 70
6.3.3. Showing/Hiding Executions and Cancels ........................................... 70
6.3.4. Filtering ECNs in the ECN Book ........................................................ 71
6.3.5. ECN Book Window – Always On Top ................................................. 71
6.3.6. ECN Book Window – Aggregate by Price ........................................... 71
6.4. Charts .................................................................................................. 71
6.4.1. Interval ........................................................................................ 72
6.4.2. Show Last ..................................................................................... 73
Graybox – User Manual_v3.63
4
6.4.3. Edit Chart Dialog ........................................................................... 73
6.4.4. Show Volume ................................................................................ 74
6.4.5. Information Panel .......................................................................... 74
6.4.6. Series Style .................................................................................. 75
6.4.7. Color Settings ............................................................................... 76
6.4.8. View Chart Data ............................................................................ 76
6.4.9. Draw Trend Lines ........................................................................... 77
6.4.10.
Draw Horizontal Lines ............................................................... 77
6.4.11.
Studies ................................................................................... 78
6.5. BoardView ............................................................................................ 81
6.5.1. Adding Symbols ............................................................................. 81
6.5.2. Imbalances ................................................................................... 82
6.5.3. Load from Analytics ....................................................................... 82
6.5.4. Customizing Headers ..................................................................... 82
6.5.5. General Option .............................................................................. 83
6.5.6. Refresh Interval............................................................................. 83
6.6. Ticker ................................................................................................... 84
6.6.1. Setting Up the Ticker...................................................................... 84
6.7. NYSE Open Book.................................................................................... 85
6.7.1. Set Up Colors/Font ......................................................................... 86
6.7.2. Show Size in 100s.......................................................................... 86
6.7.3. Show Time .................................................................................... 86
6.8. Hedges and Locates ............................................................................... 86
6.9. Market Clock ......................................................................................... 87
7.
Back Office Functions .................................................................................... 88
7.1. Viewing Statistics ................................................................................... 88
7.2. Graybox API .......................................................................................... 88
7.3. Web Blotter ........................................................................................... 88
8.
Appendix ..................................................................................................... 89
8.1. Frequently Asked Questions (FAQ’s) ......................................................... 89
8.2. Graybox Installation ............................................................................... 92
8.2.1. Computer requirements .................................................................. 92
8.2.2. Supported Internet Connections ...................................................... 92
8.2.3. Graybox Installation & Configuration ................................................ 92
8.3. Graybox Exchange codes displayed in Prints .............................................. 92
8.4. Graybox Symbology ............................................................................... 93
INDEX ............................................................................................................... 95
Graybox – User Manual_v3.63
5
List of figures
Figure 1: Logon Screen .......................................................................................... 9
Figure 2: Graybox Main Window ............................................................................ 10
Figure 3: Graybox Main Window ............................................................................ 13
Figure 4: Change Password Screen ........................................................................ 13
Figure 5: User Entitlements window....................................................................... 14
Figure 6: Active Order window .............................................................................. 15
Figure 7: Order details ......................................................................................... 16
Figure 8: Messages window .................................................................................. 17
Figure 9: Position window..................................................................................... 18
Figure 10: Position window menus ........................................................................ 19
Figure 11: Customizing upper Position window ........................................................ 20
Figure 12: Customizing position summary window................................................... 21
Figure 13: Close Out Keys – Setup ........................................................................ 22
Figure 14: Execution –Ticker window ..................................................................... 23
Figure 15: Notifier Window ................................................................................... 24
Figure 16: Market Maker – mini Order Entry window................................................ 25
Figure 17: Order types ......................................................................................... 26
Figure 18: Changing Time in Force ........................................................................ 28
Figure 19: Changing routing exchanges ................................................................. 29
Figure 20: Routing order buttons .......................................................................... 30
Figure 21: ECN order entries ................................................................................ 31
Figure 22: Sending Buy Entry ............................................................................... 31
Figure 23: Sending Sell Entry ............................................................................... 32
Figure 24: Sending Short Sell Entry ....................................................................... 32
Figure 25: Opening Preference Window .................................................................. 33
Figure 26: Preference window ............................................................................... 33
Figure 27: Trailing Stops Set Up ............................................................................ 34
Figure 28: Trailing Stops– Buy / Sell/ and Stop Sell Windows. .................................. 35
Figure 29: Changing a floating order ..................................................................... 36
Figure 30: Canceling orders .................................................................................. 37
Figure 31: Manual order entry .............................................................................. 38
Figure 32: Trading Options Window ....................................................................... 39
Figure 33: Default Quantity Box ............................................................................ 40
Figure 34: Order Display Mode Box ....................................................................... 40
Figure 35: Market Maker Settings Box ................................................................... 40
Figure 36: Auto Close Mode .................................................................................. 41
Figure 37: Order Entry, Positions Window Mode & Level 2 Orders Settings Box ........... 41
Figure 38: Time in Force Setting Box ..................................................................... 42
Figure 39: Rash Routing Mode Box ........................................................................ 43
Figure 40: Display Size Defaults/ECN Box .............................................................. 43
Figure 41: Default Qty Per Stock Box ..................................................................... 44
Figure 42: Optimization box ................................................................................. 45
Figure 43: Other Settings Box............................................................................... 45
Figure 44: Smart Orders Setup Window ................................................................. 46
Graybox – User Manual_v3.63
6
Figure 45: Super ECN Key Setup Window ............................................................... 48
Figure 46: Swipe Setup Window ............................................................................ 49
Figure 47: Key Map Configuration Window ............................................................. 50
Figure 48: Trailing Stops - Setup Window ............................................................... 51
Figure 49: mini OE Setup ..................................................................................... 53
Figure 50: Color Options Window .......................................................................... 53
Figure 51: Sound Setup Window ........................................................................... 54
Figure 52: System Configuration Window ............................................................... 55
Figure 53: Cancel Order ....................................................................................... 57
Figure 54: Cancel/Replace Orders -Hotkeys ............................................................ 58
Figure 55: Market Maker Window .......................................................................... 59
Figure 56: Market Maker View Setting Menu ........................................................... 60
Figure 57: Market Maker Window for Level 1 Display ............................................... 61
Figure 58: ECN Books Configuration Window .......................................................... 62
Figure 59: Hi-Lite Market Makers Window............................................................... 62
Figure 60: Ignore Market Maker Quotes Window ..................................................... 63
Figure 61: Market Maker Window for Sort & Round Quotes ....................................... 63
Figure 62: Order Buttons Window ......................................................................... 64
Figure 63: Market Maker Menu Window .................................................................. 64
Figure 64: Prints Area of Market Maker Window ...................................................... 65
Figure 65: Prints - Filter Window ........................................................................... 65
Figure 66: Custom Color Window .......................................................................... 66
Figure 67: Time & Sales window. .......................................................................... 67
Figure 68: Time & Sales Get Last Search ................................................................ 68
Figure 69: Time & Sales Custom Search ................................................................. 68
Figure 70: Time & Sales Filter ............................................................................... 69
Figure 71: ECN Book - Power Shares Exchange ....................................................... 70
Figure 72: Default Color Setting ............................................................................ 70
Figure 73: ECN Book Filter Window ....................................................................... 71
Figure 74: Chart View of a Stock ........................................................................... 72
Figure 75: Interval Setting Window ....................................................................... 72
Figure 76: Show Last Setting Window .................................................................... 73
Figure 77: Chart Settings Dialog Window ............................................................... 73
Figure 78: Show Volume ...................................................................................... 74
Figure 79: Information Panel ................................................................................ 75
Figure 80: Series Style ........................................................................................ 75
Figure 81: Color Settings ..................................................................................... 76
Figure 82: Chart Data Point .................................................................................. 76
Figure 83: Draw Trend Line .................................................................................. 77
Figure 84: Draw Horizontal Line ............................................................................ 77
Figure 85: Chart Studies Selection ........................................................................ 78
Figure 86: Chart Studies - SMA Settings ................................................................ 78
Figure 87: Chart Studies SMA ............................................................................... 79
Figure 88: Chart Studies – Multiple Studies ............................................................ 79
Figure 89: Merge Chart Settings ........................................................................... 80
Figure 90: Merged Charts ..................................................................................... 80
Graybox – User Manual_v3.63
7
Figure 91: GrayBox BoardView Window.................................................................. 81
Figure 92: Graybox BoardView with Symbols Added ................................................ 81
Figure 93: Load from Analytics Window.................................................................. 82
Figure 94: Column Headers for BoardView ............................................................. 83
Figure 95: BoardView Setup General Window ......................................................... 83
Figure 96: BoardView Refresh Interval Window ....................................................... 83
Figure 97: Ticker Setup Window ............................................................................ 84
Figure 98: Cascade Ticker .................................................................................... 85
Figure 99: Jet Ticker ............................................................................................ 85
Figure 100: NYSE Open Book Window .................................................................... 85
Figure 101: Hedges and Locates Window ............................................................... 86
Figure 102: Market Clock ..................................................................................... 87
Graybox – User Manual_v3.63
8
1. Introduction
Graybox trading software application from Hold Software.com Inc is a state-of-the art
trading software that is easy to configure. Using Graybox, you can send multiple orders
to every ECNs, at different prices, with a single keystroke, and in less than a second of
your time.
Graybox™ is power-packed with features such as dynamic and static smart orders,
blasting, super ECN ordering, and adjustable close out features:
•
Direct access to NASDAQ, ECNs, NYSE, AMEX and access to Dark Pool Providers
•
Scientific Analytical Charts and Tools for effective market monitoring
•
Personalized Position Manager to monitor and adjust your positions instantly
•
The Graybox quote display – a quote monitor for market makers and ECNs
Your Graybox™ is easily customizable and supports multiple trading styles such as
scalping, momentum, swing, and position. Its multi-server architecture eliminates
system overload, enabling execution of hundreds of trades a day. When you are powered
with all the data that you need – from Level II quotes to late-breaking news – right in
your trading screen, you seldom make a wrong trade.
This user manual provides a detailed overview of Graybox™. Performance of the product
is constantly assessed under real time operations and is instantly upgraded with new
features in line with the dynamic industry trends.
Graybox supports all 32 & 64 bit versions of Windows XP, Windows Vista, & Windows 7
operating systems.
Please refer to Hold Brothers Support website (http://www.support.hold.com/) for
latest updates on the product.
Graybox – User Manual_v3.63
9
2. Graybox Basics
This section explains the basic features of Graybox, including logging in, features of
main window, how the user can customize a layout, and the entitlements that a user can
avail of.
2.1. Logging on to Graybox
To log on to Graybox:
1.
Click Start.
2.
Select Programs > Hold Brothers > Graybox Trader. Graybox Logon screen
is displayed as shown in Figure 1.
Or
You can also double click Hold Brothers icon on the desktop.
Figure 1: Logon Screen
3.
Enter your trader ID and password in the Trader ID and Password fields.
The system automatically displays your default BRSQ account number.
The administrator will provide your Trade ID and Password.
You can change the password after first login.
4.
Click OK. The Graybox main window appears as shown in Fig 2.
Graybox – User Manual_v3.63
10
2.2. Main Window
After you log on, the Graybox main (default) window appears as shown in Figure 2.
Figure 2: Graybox Main Window
The Graybox main window menu consists of:
• File: The dropdown menu consists of the following options:
o Layout – to customize and save the layout (see Section 2.3)
o Change Password – to change your Trader ID password
o Exit – to close the application
• Edit: Gives you the option to adjust edit preferences for order quantity. The
dropdown menu consists of the following options:
o Quantity
100s
1000s
Manual
Position
Odd Hundred
Odd Thousand
• View: Enables you to set up the View screens along with the GrayBox main
window. You can select the required screens for the dropdown menu. The menu
consists of the following options:
o Notifier
o Positions Monitor
Graybox – User Manual_v3.63
11
o Hedges Monitor
o Messages Ticker
o Locates Monitor
o Executions Ticker
o Market Clock
o Menu
o Status Bar
o Tool Bar
o Title
o Always on Top
When selected, the respective commands open in separate
windows.
• New: This option enables you to open a new:
o Market Maker
o ECN Book
o Chart
o Boardview
o Ticker
o NYSE Openbook
o Manual Order Entry window
o Time and Sales
• Trading: This option helps you to place, manage, and cancel orders using
different options. To know more about trading, Order Entry. The dropdown menu
consists of the following options:
o Preference Window
o NSDQ/ SDOT Orders
o ECN
o Order
o Cancel
o Close Outs
o Trailing Stops
• Tools: This option helps you to assign trade, open blotter and assign trades.
• Configuration: This option helps you to configure the keyboard shortcut and
system for the transaction. You can set the font, color, and sound for the
application. For more details, see Chapter 3: Graybox configuration. This
dropdown menu consists of the following options:
o Fonts
o Colors
o Sounds
o Trading Options
Graybox – User Manual_v3.63
12
o Keyboard Config
o Execution Options
o System Config
o Diagnostics
o Reconnect All – Use Primary Settings
o Reconnect All – Use Secondary Settings
• Help: Help menu provides option for sending the log files created by Graybox to
the Graybox support team, as well as clean this log files. Apart from above you
can access help to open the manual, and know Graybox version and contact
information about Graybox.
2.3. Customizing Layout
To customize the layout:
• Go to Load, and then Select saved multiple layouts to bring up the exact layout.
To save your current layout for Graybox
• Click File > Layout > Save.
To change layout and save it in a different name / multiple layouts
• Go to File > Save as.
By default, Graybox opens the last layout used.
Predefined layouts are copied during Graybox
installation. A preview of the layout is shown
during installation
Graybox – User Manual_v3.63
2.4. Changing Password
Perform the following steps to change the password:
1.
Click File and select Change Password as shown in Figure 3. The Change
Password screen is displayed as shown in Figure 3.
Figure 3: Graybox Main Window
2.
Enter the Old Password and the New Password in the respective text boxes.
Figure 4: Change Password Screen
3.
Re-enter the new password in the Confirm New Password text box.
Passwords have to be at least 7 characters long
and must contain at least one numeric.
4.
Click OK.
13
Graybox – User Manual_v3.63
14
2.5. User Entitlements
To view user entitlement, Right click on Graybox main window, and click “View
Entitlement” the following entitlements are available for the user:
• Buying Power: Displays the buying power you are entitled to.
• Floating Exposure Limit: Displays your floating exposure limit over and above
the Buying power.
• Max Order Size: Displays the maximum size per order.
• Max Position Per Stock: Displays the maximum positions that the user can take
per stock.
• Max Number of Positions: Displays the maximum positions available to you.
• Stock Price Limit: Displays the Stock Price Limit.
• Stop Loss: Displays your Stop Loss Limit.
• Force CloseOut Loss Limit: Displays where the Force CloseOut triggers over
and above the Stop Loss limit.
Figure 5: User Entitlements window
Graybox – User Manual_v3.63
15
3. Graybox Windows
Graybox contains many windows that display order details, order status, and so on.
3.1. Active Orders Window
The active orders window displays your active/live/pending orders in the market.
Figure 6: Active Order window
For Active orders window menu details, see 3.1Active Orders Window
Following are the columns in the Active order window:
SN
Sequence Number
S
Side: Buy or Sell
Type
Type of order (limit, market, etc)
Sym
Stock symbol
Qty
Number of shares to buy or sell
Price
Price of the stock
Since
Duration (in hours:minutes:seconds) from the time the order has been
accepted by the exchange.
Graybox – User Manual_v3.63
Status
16
The exchange and status of the order:
New indicates that the order is just entered.
Floating indicates that the order is floating.
Partial indicates that the order is partially filled.
Cancel indicates that the cancel order is sent.
Auto Cancel indicates that the application is attempting to cancel the
order.
TRL Stop indicates that the order is a trailing stop order
TIF
Time in force.
After an order is completely filled or canceled, it moves to the Messages
window. If an order is rejected, it is immediately removed from the Active
Orders window and shown in the Messages window.
Graybox on logging on to the system can figure out the status of floating orders from the
previous session linked to a user id.
For more details on the status of an order, double-click the order to see the Order
Details window.
3.1.1. Order Details Window
The Order Details window displays order details. To view order details, double-click the
order in the Active order window.
The Order details can be got from Messages window too.
Your order details are displayed as shown in Figure 7.
All orders that are entered are displayed in the Order Details window until these orders
are cancelled, expired, or executed.
When there is no order, this is disabled.
Figure 7: Order details
Graybox – User Manual_v3.63
17
3.2. Messages Window
The Messages window displays messages related to orders. Separate views are available
for all message, execution, and cancellation orders for the day.
Figure 8: Messages window
This window shows all orders that have been executed, cancelled, user trashed, or
rejected and hence no longer active.
When there is nothing displayed in the messages window, it means no transaction,
whatsoever, has taken place for this trading day.
For more details on the status of an order, double-click the order. The Order Details
window (Order Details Window3.1.1) shows the status and the error message, if any.
3.2.1. View Selections
You can narrow down the incoming messages that are displayed in the Messages
window. There are four tabs available in the Messages window. They help you in viewing
the required incoming messages. Based on your trading needs, you can select one of the
following tabs:
All
To view All orders
Execs
To view only executed orders
Following are the columns in the Messages window:
SN
Sequence Number
S
Side: Buy or Sell
Sym
Stock symbol
Qty
Number of shares to buy or sell
Price
Price of the stock
Graybox – User Manual_v3.63
Time
Time when the order is executed or cancelled
Status
The exchange and status of the order.
18
Cancel indicates that the order is cancelled.
Executed indicates that the order is executed.
You can adjust the column width by using the mouse.
3.3. Position Window
The Position window displays your stock position details. This window is divided into two
parts. The upper part of the window displays a detailed stock position and the lower part
displays the summary.
Figure 9: Position window
Figure 9: Position window shows long positions in green and short
positions in red.
The upper part of the Position window displays the position of the stock in different
columns. Following are the columns in the Position window:
Tabs
Description
Sym
Stock symbol.
Qty
Quantity currently owned.
AvgPrice
The average price at which the shares were bought.
P/L
Gross profit or loss on a particular position.
$ P/L
Total dollar profit or loss of a particular position.
Bid
Price at which the buyer is ready to buy.
Ask
Price at which the seller is ready to sell.
Hi
Highest price at which the stock is traded for the day
Lo
Lowest price at which the stock is traded for the day
Hedges
Open straddle positions
Last
Last traded price of the stock
Last Update
Time when the position was last updated
Graybox – User Manual_v3.63
19
The lower part of the position window displays the position summary of the stock.
Following are the columns in the position summary window:
Close P/L
Net Profit/Loss at a given point of time, for closed positions
Open P/L
Notional Profit/Loss for open positions (Marked to the bid for
long positions and to the Ask for short positions.)
Buying Power
Amount/Exposure currently available for taking positions
Shares Count
Number of shares traded up to a given point of time
Total Exposure
Amount utilized to buy/short sell shares at the position entry
price. Sum total of exposure of all the stocks in the position
Net P/L
Open Net Profit or Loss on the position calculated on the
commission provided in the commission rate in the trading
options. If not provided in the trading options, it is the close
profit/loss.
Column headers – Upper part of position window
You can customize column headers of the upper part of the Position window. If you do
not wish to view only the column headers, right-click on Position window and click
Show/Hide Header, see Figure 10. Repeat this procedure to view only the column
headers.
Figure 10: Position window menus
You can customize and view only the required columns of the upper part of the Position
window. To customize the column header:
1.
Right-click the Position window and click Column Setup. The Column setup
window appears as shown in Figure 11.
Graybox – User Manual_v3.63
20
Figure 11: Customizing upper Position window
2.
Select the required column headers from Column Headers list. The functions of
the buttons are as follows:
o > : To move the selected column header from the Column Header list to the
Selected list
o < : To move the selected column header from the Selected list to the Column
Header list
o >> : To move all the column headers from the Column Header list to the
Selected list
o << : To move all the column headers from the Selected list to the Column
Header list
o Up: To move up the list
o Down: To move down the list
3.
Click OK.
Column headers – Position summary
You can customize the position summary window. If you do not wish to view the column
headers,
• Right-click the Position window and then click Show/Hide Header See Figure
12. Repeat this procedure to view the position summary column headers.
You can customize and view only the required columns of the upper part of the Position
window.
You can customize and view only the required columns in the position summary window.
To customize position summary column headers:
1.
Right-click the Position window and then click Summary Setup. The Summary
setup widow appears as shown in Figure 12.
Graybox – User Manual_v3.63
21
Figure 12: Customizing position summary window
2.
Select the required column headers from Column Headers list. Functions of the
buttons are as follows:
o > : To move the selected column header from the Column Header list to the
Selected list
o < : To move the selected column header from the Selected list to the Column
Header list
o >> : To move all the column headers from the Column Header list to the
Selected list
o << : To move all the column headers from the Selected list to the Column
Header list
o Up: To move up the list
o Down: To move down the list
3.
Click OK.
Position Close Out
You can use this option to close the trading of a particular stock. This option closes out
the open position of a particular stock by selling longs and buying shorts at the current
market price.
To close trading of a particular stock,
• Right-click the Position window and then click the required Position Close Out
option.
Close Out
You can use this option to close the trading of all open stocks. This option closes out all
open positions by selling longs and buying shorts at the current market price.
You can configure the Graybox to the preferred close out positions.
To configure the close out positions,
Right-click on main window > Setup > Close Out Keys. Close Out Keys Setup box
appears. See Figure 13.
To close trading all open stocks,
• Right-click the Position window and then click the required Close Out option.
Graybox – User Manual_v3.63
Figure 13: Close Out Keys – Setup
Close out keys can be configured as hot keys from the KeyMapConfig
window
.
22
Graybox – User Manual_v3.63
23
3.4. Executions – Ticker Window
The Execution window displays all executions.
Figure 14: Execution –Ticker window
Following are the columns in the Execution Ticker window:
Tabs
Description
Time
Execution time of the order
SN
Sequence number
Side
Sell or Buy
Sym
Stock symbol
Qty
Number of shares executed
Price
Price of the stock
Exch
Exchange through which the shares are executed
Contra
The contra party for the transaction
Comm.
Commission in dollars
Pos
Stock position
Exec P&L
Execution Profit and Loss
Pos P&L
Position Profit and Loss
Total P&L
Total Profit and Loss
3.5. Notifier
The Notifier window displays all the system messages that are related to Graybox. These
include periodic system announcements that are made by the Graybox system
administrators.
When Status of the order is to be checked, Right click on the order in Graybox active
order window, and click on “Get Status”. The status of the order is displayed in Notifier
window
Graybox – User Manual_v3.63
Figure 15: Notifier Window
Following are the columns in the Notifier window:
Tabs
Description
Time
Time when the message is relayed by the administrator
From
Source of the message
Message
Detailed message
Severity
Criticality of the message
24
Graybox – User Manual_v3.63
25
4. Order Entry
You can make order entries in different ways and in different windows. This chapter
explains different ways of placing orders and routing them.
4.1. Market Maker – mini Order Entry window
The Market Maker window consists of a mini order entry screen. This window routes
orders to all available ECNs/Exchanges. You can trade both listed and OTC securities by
using the mini Order Entry window. You can also place different types of orders such as
Stop, Stop Limit, MOC, and LOC and change the Time In Force for an individual order.
To view the mini Order Entry window from Market Maker window:
1.
Right-click the Market Maker window.
2.
Select View> mini Order Entry window. The mini Order Entry window appears
in the middle of the Market Maker window.
Level I Display
mini Order
Entry
window
Level II
Display
Figure 16: Market Maker – mini Order Entry window
You can disable the mini Order Entry window if you do not want to
view the window. This can be done using the right click menu option
in Market maker window. Right click in market maker window, in the
menu, select “View Mini order entry” , check/ uncheck to
enable/disable mini OE window
Up and Down Arrow keys can be used to increment/decrement price
of a symbol for order entry
Graybox – User Manual_v3.63
4.1.1. Setting Order Type
You can change the order type and side in the mini Order Entry window. You can
make the following changes in the required order.
To change the type of an order, click the order type list. The dropdown menu in
Figure 17 displays the different types of orders available.
Figure 17: Order types
The Limit price and the Stop Limit are updated by real time quotes
based on the current Inside Market.
The different types of order available are
• Limit
• Market
• Stop
• Stop Limit
• Market on Close
• Limit on Close
• Trailing Stop
• Trailing Stop Limit
• Opening Cross
• Dynamic Smart
• Regular Smart
26
Graybox – User Manual_v3.63
27
4.1.2. Set Order Price
Price of the order is set by
• Manually by typing in the order price
• Selecting “Live” mode, the order price will change accordingly to the last “Bid” or
“Ask” on the “Level 2” display
• Point and Click using mouse on the “Level 2” Display, changes price, based on
where the mouse was clicked – Should be enabled from the Mini OE Setup.
4.1.3. Set Order Quantity
Order quantity can be entered manually.
From the “RESV” option you can set the default display quantity, reserve quantity
and the step size for increasing /decreasing the quantity.
4.1.4. Switching between Live and Custom Mode
To enable price change according to the last “Bid” or “Ask”, Click LIVE. This can be
toggled to enable or disable live updates as the market changes.
4.1.5. Time in Force
Time In Force (TIF) denotes the number of seconds the orders remain afloat before
they time out. By default, TIF is set to 180 seconds. However, you can change the
TIF for individual orders.
If LIVE is clicked, the order gets updated by current market price automatically. If
the price is changed manually, the LIVE mode gets disabled.
Do not set the default TIF below 120 seconds for INCA orders.
Else, the order(s) get rejected.
You can change the TIF type for a particular order from the TIF dropdown list as
shown in Figure 18
The options available for Time in Force are
• Default TIF
• Day
• IOC
• At Open
• Open X Imbalance
• Close X Imbalance
• Intraday X Only
Graybox – User Manual_v3.63
28
Figure 18: Changing Time in Force
All orders go out with a Default TIF (as selected in Trading
Options) unless they are manually changed for a particular order.
4.1.6. Buy & Sell
To switch between order sides, Click BUY/SELL as required.
By default, the buy side price is the best inside ask and the sell side price the best
inside bid. However, to toggle the quote side, click BID/ASK. If you change the
prices manually, the window stops updating the Limit/Stop Limit entry fields and the
order does not remain Live. To return to the live mode, Click Live.
4.1.7. Setting Destination Exchange, Routing Modes & Strategies
Graybox allows you to trade through different exchanges. You can select the
required routing strategy. You can toggle between routing modes/strategies using
the Order Entry window.
A destination Exchange can be made default by using the ‘Lock- ’ button provided
next to destination drop down box. Select a destination and lock it, all orders will be
sent to this destination. Once locked this destination is default order destination in
the current market maker window’s mini order entry. Unlock
multiple destination.
this button to select
To change the routing modes/strategies:
1.
In the Order Entry window, click the Destination Exchange drop down
menu.
Graybox – User Manual_v3.63
2.
29
Select the required routing mode/strategy from the dropdown list as shown
in Figure 19. The order is now routed through this mode/strategy to the
exchange.
Various Routing Options are available. They are
2.1.
BATS MPP: This is BATS Midpoint peg order which sets the price at
the midpoint of National Best Bid and Offer (NBBO).
Figure 19: Changing routing exchanges
4.1.8. Add & Remove Liquidity
Mini Order entry from the market maker window gives you the facility to Add or
remove liquidity from the Market maker window itself.
Using this option will help you set the price, so as to add or remove liquidity from
market.
4.1.9. Setting Routing Order Buttons
Routing exchanges and routing modes are displayed in the Destination Exchange
drop down menu to help you in fast trading. You can customize the routing order
buttons displayed on the Order Entry window. To rearrange the routing order
buttons in the Order Entry widow:
1.
Right-click Market Maker window.
2.
Select Setup > Order Entry Window > Order Buttons. The Routing
Order Buttons window appears.
Graybox – User Manual_v3.63
30
Figure 20: Routing order buttons
3.
Select the required routing order buttons from Column Headers list.
Functions of the order buttons are as follows:
> : To move the selected routing order button from the Column Header list
to the Selected list
< : To move the selected routing order button from the Selected list to the
Column Header list
>> : To move all the routing order buttons from the Column Header list to
the Selected list
<< : To move all the routing order buttons from the Selected list to the
Column Header list
Up: To move up the list
Down: To move down the list
4.
4.1.10.
Click OK.
Cancel All open orders.
All orders for a selected stock in market maker window can be cancelled using the
“Cancel All” button
in miniOE window.
4.2. ECN Order Entry Windows
ECN orders can be launched using individual ECN or using shortcut keystrokes.
Keystrokes for launching an ECN order are explained in the Keyboard
Reference in chapter 6.
To open an ECN order,
• On the Trading menu, select the required routing exchange and then click the
required entry type.
Graybox – User Manual_v3.63
31
Figure 21: ECN order entries
Figure 21 depicts the ECN order entries available under ARCA routing exchange.
Following sections provide a detailed explanation on ECN order entries.
The Super ECN key sends orders to all ECNs at the price specified in
the Preference Order box. These orders go out at default quantity size.
4.2.1. Sending ARCA/BATS/TRAC/INET/RASH Buy Entry
You can send buy order entries through any exchange. To send a buy order entry on
any exchange:
1.
Open any Buy Entry window
2.
Enter Stock name and stock Quantity
3.
Use the left/right arrow keys on your keyboard to select the price (1 cent
per keystroke) or use the Step option.
Figure 22: Sending Buy Entry
4.
Click Buy.
Graybox – User Manual_v3.63
32
4.2.2. Sending ARCA/BATS/TRAC/INET/RASH Sell Entry
You can send sell order entries through any exchange. To send a sell order entry on
any exchange:
1.
Open any Sell Entry window.
2.
Enter Stock name and stock Quantity.
3.
Use the left/right arrow keys on your keyboard to select the price (1 cent
per keystroke) or use the Step option.
Figure 23: Sending Sell Entry
4.
Click Sell.
4.2.3. Sending ARCA/BATS/TRAC/INET/RASH Short Sell Entry
You can send short sell order entries through any exchange. To send a short sell
order entry on any exchange:
1.
Open any Short Sell Entry window.
2.
Enter stock name and stock quantity.
3.
Use the left/right arrow keys on your keyboard to select the price (1 cent
per keystroke) or use the Step option.
Figure 24: Sending Short Sell Entry
4.
Click Short Sell.
Graybox – User Manual_v3.63
33
4.3. Preference Window
The Preference window is used to make order entry in the Active Order window. To open
Preference window, on the Graybox Main window – select Trading>Preference
Window and select the order type.
Figure 25: Opening Preference Window
The Preference Bid, Offer, Short Offer, Pref. Buy, Pref. Sell, and Pref. Short Sell options
open the Preference window as shown in Figure 25 .
Figure 26: Preference window
Graybox – User Manual_v3.63
34
You can open the Preference window using shortcut keys set in Keyboard
configuration.
To enter an order in Preference window:
1.
Open the required Preference window.
2.
Enter the Symbol, Price, and Quantity.
3.
Increase/decrease the price in steps using the Step list.
4.
Select the routing exchange, execution platform, routing strategy, and order
type.
5.
Select PRELOAD to load data.
6.
Click Buy/Sell/Short Sell based on the preference type to submit the order.
4.4. Trailing Stops– Buy/Sell
Trailing Stop Loss Buy is a useful stop loss order. You can set stop loss price at some
fixed price/percentage below the market price. When the stock price rises, the Stop Loss
Buy price rises proportionately. When the stock price falls, the stop loss price remains
the same ands gets executed at match price. See Figure 27.
Trailing Stop Loss Sell is a useful stop loss order. You can set stop loss price at some
fixed price/percentage below the market price. When the stock price rises, the Stop Loss
Sell price rises proportionately. When the stock price falls, the stop loss price remains
the same ands gets executed at match price. See Figure 27.
Trailing stop setup can be accessed by right click on the main window, go to ‘Setup’ and
‘Trailing Stop’. This will open the Trailing Stops setup window Figure 27.
While placing the Trailing Stop Loss/Buy enable “Use Delta from Market” option and set
“Delta from Market”. See Figure 28.
Figure 27: Trailing Stops Set Up
The ratio in change in the price of the underlying asset to the corresponding change in
the price of a derivative is known as Delta. This is sometimes referred to as the "hedge
ratio".
By setting Trailing Stop Loss Buy/Sell, you can limit the loss while not capping your
gains. Also, you do not have to constantly monitor your investments.
Graybox – User Manual_v3.63
Trailing Stop order can be auto triggered when entering positions. This setting can be
enabled or disabled by putting a check mark in the “Auto Trigger Trailing Stop on
Entering Positions” entry from Trailing Stops Setup window,
Figure 28: Trailing Stops– Buy / Sell/ and Stop Sell Windows.
35
Graybox – User Manual_v3.63
36
4.5. Changing a Floating Order
An order that is not executed/ pending is called a floating order and these orders can be
changed.
Figure 29: Changing a floating order
Graybox – User Manual_v3.63
37
4.6. Canceling an Order
You can cancel unexecuted orders. You can cancel orders in different ways.
Figure 30: Canceling orders
To cancel an individual order:
1.
Select the order in the Graybox main (active order) window.
2.
Click Cancel Order.
Or
On the Trading menu, point to Cancel and then click Selected Order.
Or
Press F12 key.
Orders may still be filled while they are being cancelled or before they are
routed to the exchange. For cancellation confirmation, click in the Messages
window and verify if the order is actually cancelled. SelectNet orders must
be active for at least 10 seconds before they are canceled.
To cancel all orders:
• In the Graybox main (active order) window, click Trading menu, point to Cancel
and then click All Orders.
Or
• Press Ctrl+F12. (This is the default keystroke). The 0 button on the number pad
cancels all orders in a selected stock.
To cancel all orders for a selected stock:
1.
Select the stock so that it appears in the Graybox main window.
2.
On the Trading menu, point to Cancel and then click All For Selected Stock.
Graybox – User Manual_v3.63
Or
Press F11. (This is the default keystroke).
To cancel all buys for an individual stock:
1.
Select the stock so that it appears in the Graybox main window.
2.
On the Trading menu, point to Cancel and then click All Buy Orders.
Or
Press the Shift+F12. (This is the default keystroke).
To cancel all sells for an individual stock:
1.
Select the stock so that it appears in the Graybox main window.
2.
On the Trading menu, point to Cancel and then click All Sell Orders.
Or
Press the Alt+F12. (This is the default keystroke).
3.
Canceling SNET and SOES orders
4.7. Manual Order Entry Window
1.
On the Graybox Main window, select New>Manual Order Entry. The Manual
Order Entry window appears as shown in Figure 31.
Figure 31: Manual order entry
2.
Enter the following information:
o Order Side: Select the type of order, either Buy or Sell
o Quantity: Enter the order quantity
o Symbol: Enter the required stock symbol
o Price: Select the order price
o Type: Select the order type
o Time In Force: Select how long the order is valid. See 5.1.3.
o Destination : Select the destination exchange
3.
Click Send.
38
Graybox – User Manual_v3.63
39
5. Graybox Configuration
The configuration of the Graybox is done through the Trading Options window, by setting
up smart order routing, dynamic smart orders, and keyboard shortcuts.
5.1. Configuring Trading Options
You can configure your Trading Options through the Trading options window. You can set
Order Display Mode for different exchange orders, IOC Mode for different orders, Display
Size Defaults, Default Qty Per Stock, and Different Trading Options.
Every configuration setting made in Trading Options is saved in a central
location and provides for a roving profile. However, the display elements
are saved as part of the local layout, and they must be transferred in
order to maintain the same look and feel.
To customize trading options for Graybox:
1.
Right-click the active order window.
2.
Select Trading Options from the popup menu. The Trading Options window
appears as shown in Figure 32.
Figure 32: Trading Options Window
Graybox – User Manual_v3.63
40
5.1.1. Default Quantity
You can set your default share quantity for Listed/OTC stocks here. The Listed/OTC
stocks carry the set quantity to the default every time a new stock is typed.
Figure 33: Default Quantity Box
5.1.1.1. Order Display Mode
You can set your order display mode by using this option. There are three types
of order display modes: Automatic, Normal, and Hidden.
Figure 34: Order Display Mode Box
•
N
 ormal: All orders going to an ECN are marked as “Normal” and they
are shown on the NASDAQ Level 2 display as well as the ECN book.
However, “Normal” orders cannot lock or cross the market. If you
attempt to do this, the order is rejected.
•
A
 utomatic: Graybox detects the orders that can potentially lock or cross
the market and sends them out as “Subscriber Only”. All other orders go
out as “Normal.”
•
Hidden: The SNET preference box allows you to send hidden orders to
Island by selecting the Hide check box on the preference box. The order
is not visible on Level 2 or the Island book.
5.1.1.2. Market Maker Settings
You can make different settings for your MMaker window here.
Figure 35: Market Maker Settings Box
Show Firm/Hedge Position - shows the number of traders, trading from a firm.
Graybox – User Manual_v3.63
41
Cancel Retry on Reject
See Market Maker Settings Box in Figure 35.
Once the Cancel key is hit, Graybox automatically resends cancel requests for
SOES and ECN orders.
5.1.1.3. Automatic Close Mode
Automatically changes the quantity to your current Long or Short position in that
particular stock when you go to cover your position.
Figure 36: Auto Close Mode
However, if the position is greater than your default qty size, then
the order will go out for the default size. For example, if you were
long 375 shares of CSCO, and your default is a 1000, your
quantity for CSCO would go out for 375 shares.
Reset Share Size according to default quantity
This feature resets the share size after taking into account the default quantity
and the current position. For example, if you are long 100 shares of DELL and
your default Quantity for DELL is 1000, the next order (only the next order)
automatically goes out for 900.
5.1.1.4. Smart Order Auto Cover
This option is not available in the Trading Options image.
When using Smart Ordering, Smart Orders detects an open position, if any, for
the specified stock and resets the quantity to cover the position. So, instead of
sending out orders for your default quantity size, it sends orders for your open
position.
If your open position is greater than your default qty size, the
order goes out for the default qty size only.
5.1.2. Order Entry, Positions Window Mode, & Level 2 Order
Settings
You can select default ECN Order Entry Settings here.
Figure 37: Order Entry, Positions Window Mode & Level 2 Orders Settings
Box
Graybox – User Manual_v3.63
42
For manual order entry box, the default ECN can be set in ‘Manual OE listed Default’,
& ‘Manual OE OTC Default’.
The default price for ‘ECN order entry’ as add or remove liquidity can be set.
There are two modes available for Positions Dialog Mode: Floating and Docked. If
you enable Floating, Positions window and Graybox window can be moved
separately. If you enable Docked, the Positions window is attached to the Graybox
main window and moves with it.
Order can be displayed as a bar with options to cancel the order in Level 2 window
using the options in ‘Orders in level 2 Wnd’.
5.1.3. Time In Force
Time in Force sets the period for which an order should stay active.
The default is set as DAY orders. Day orders in Graybox remain active through the
trading day including post market hours.
Figure 38: Time in Force Setting Box
If “Use TIF In Secs” is selected for Default Time In Force, then a valid value in
seconds is needed for the Time In Force (In Secs) field.
5.1.4. IOC Mode
This box enables you to configure settings for Immediate Or Cancel Mode. All your
orders are filled either immediately or cancelled.
The default value can be set for each ECN\Exchange supported by Graybox.
•
IOC: All Orders go out as Immediate or Cancel. If the ECN has a match
in their books, the order gets filled, or else the order is automatically
cancelled.
•
N
 ormal: Orders are sent out with the default Time In Force. This allows
the ECN to be proactive in the order matching and forward orders to
SNET or other ECNs if a match is not found in the books.
This feature can delay cancel orders at times
•
A
 utomatic: This allows Graybox to determine whether orders go out as
IOC or Normal. By default, all orders that post liquidity are sent out as
Normal and all orders that grab liquidity are sent out as IOC. For
example, all Buy orders above the offer go out as IOC, while all buy
orders under the offer go out as Normal.
Graybox – User Manual_v3.63
5.1.5. ECN\Exchange Routing Mode
You can set your ECN Routing Modes here.
Figure 39: Rash Routing Mode Box
Default routing modes can be set for each Exchange\ECN if the routing is enabled.
5.1.6. Display Size Defaults/ECN
You can set your Display Size Defaults/ECN here.
Figure 40: Display Size Defaults/ECN Box
For each ECN, the display size can be set in the following ways:
•
As default
•
As order quantity
43
Graybox – User Manual_v3.63
•
As some value. Example: 100, 200 and so on.
5.1.7. Scroll settings for Maximum and Minimum Qty
The will change the maximum and minimum quantity that can be changed using
scroll.
5.1.8. Default Quantity Per Stock
You can set the default quantity of shares per stock here. The stock carries the set
quantity every time the stock is typed.
Figure 41: Default Qty Per Stock Box
•
To set the default quantity shares per stock:
•
Type the chosen stock name in the Stock field and specify the default
quantity.
•
Click Add.
You can also define the step size by which the price should be
incremented.
For each stock, different quantity can be set.
To delete any stock from the list
•
Select the stock and click Remove. The Default Quantity settings for the
stock stands removed.
This setting is applicable to all order entry window (Market maker
order entry window, Mini OE window, Listed Trading window, ECN
order entry window, and the Preference window.
This setting is saved to the local layout, not saved as a roaming
profile.
5.1.9. Optimization
You can change the display refresh rate and the book optimization depth here.
44
Graybox – User Manual_v3.63
45
Figure 42: Optimization box
5.1.10.Other Settings
You can make other settings such as Estimated Commission Rate, MM Order Entry
Display, eSignal (charting software), and Max Compliance Mode here. This option
enables you to view your approximate profit/loss in the position monitor. This can be
linked with Graybox in this option.
You can set Active Order Sort either in Descending or Ascending order.
You can set Mouse scroll Function to Symbol/Price/Quantity as per your trading
choice.
Figure 43: Other Settings Box
5.2. Setting Up Smart Order Routing
This feature allows you to set up smart order keys (default to CTRL + B, CTRL + S, and
Shift + S) for one-key execution with the market maker or ECN of your choice. You can
set up a list of ECNs and market makers as per your priority.
If the first choice is not available, the smart feature moves down the list to
the next available ECN or market maker and so on until the order goes out.
• Shift+S - sends a short sell order to your smart order routing list.
To set up Smart Order Routing:
1.
Shift focus to the active order window.
2.
Right-click the active order window. The Graybox main window appears.
3.
Select Setup in the menu. The Smart Orders Setup window as shown in Figure
44 appears:
Graybox – User Manual_v3.63
Figure 44: Smart Orders Setup Window
4.
Type the four-letter market maker or ECN symbol in the top field.
46
Graybox – User Manual_v3.63
47
5.
Click the Add button (or hit the Enter key). The ECN or market maker appears in
the routing list.
6.
Repeat steps 4 and 5 for each market maker and ECN that you want to include.
7.
To change the order of a symbol in the list:
•
Select the symbol in the list.
•
Click the Move Up or Move Down button as many times as necessary.
5.2.1. Split Order by Display Size
You can split an order by display size. It breaks up your order if the volume is shown
on level two is less than the size of the order you are sending. For example, if you
send a Sell Order for 2000 shares, and INET shows 800 shares-the order is split up,
so that 800 shares goes to INET and the remaining 1200 goes to the next ECN and
so on.
You can also specify at what price the order should be sent out above
the Inside Market by adjusting the delta value.
You can remove an ECN or Market Maker from the list.
To remove an ECN or market maker from the list:
1.
Select the symbol in the list.
2.
Click the Delete button.
You can clear the list and start over. To clear the list, click the Clear button.
5.3. Dynamic Smart Orders
Dynamic smart orders work with the same settings as regular smart orders with the
following exceptions:
• Dynamic order sends out all orders as IOC orders.
• Dynamic order sends out the orders again at the same price (or raises the price
up to 5 times), if the orders are cancelled or rejected.
5.4. The Super ECN Key
The Super ECN key, (default Alt+1), sends orders out to all ECNs listed in the setup box
shown in Figure 45, at the price specified in the Preference order box. You can send a
NSDQ\NYSE limit or market order for the size specified in this setup box.
To launch these orders, the preference box must be open. These orders go out as your
default qty size.
NSDQ\NYSE order goes out for the quantity specified in the setup.
You can setup the SuperECN key to exclude certain ECNs. This feature can be used to
go long, sell, or go short.
To exclude ECNs from the Super ECN key:
1.
Right-click the Active Order window. The Graybox menu appears.
Graybox – User Manual_v3.63
2.
48
Select Setup, and then select SuperECN Key. The Super ECN Key Setup
window, as shown in Figure 45, appears:
Figure 45: Super ECN Key Setup Window
3.
Click the ECN(s) that you want the Super ECN key to ignore.
Entering 0 in the NSDQ\NYSE box disables the NYSE\NSDQ order.
4.
Select the type of order you want to send out from the dropdown menu of SOES
order type.
5.
Specify at what price you want to send the order with respect to the Inside
Market (Buying at the offer/selling at the bid).
6.
Click OK.
5.5. Direct Super ECN Key
Graybox set of Super ECN Keys work without having the Preference window or the Listed
Trading window open. The orders go out at the current Inside Market which are the best
inside ask for buys and the best inside bid for sells/short sells. They use the same
setting as used by the other Super ECN Keys.
The keystrokes are disabled by default and can be assigned using the
KeyMapConfig Window in the MarketMaker tab.
5.6. Multiple Swipe Keys
Swipe orders do not go by the best NASDAQ bid/offer, but go at the increment based on
the best bid/offer for the specific ECN or the Inside Market. The order is placed on top of
the specific ECN book or Inside Market.
Graybox – User Manual_v3.63
49
ECN swipe keys are commonly referred to as Shave Keys. You can configure five sets of
ECN swipe keys. You can send orders at a specified differential (factor) above / below
the best Bid / Offer for a specified ECN. To launch this order, the preference box need
not be open, but the keys need to be enabled separately in the keymap configuration.
For each Bid/Offer sent to an exchange, a factors set for "inside the market" etc
executions, this maximum factor acts as the referral point.
Figure 46: Swipe Setup Window
To configure multiple swipe keys,
1.
Go to the Graybox menu and pick setup.
2.
Then go to the swipe key. To enable the swipe keys:
o G
 o to Keymap Configuration and enable the Swipe Keys.
If required, you can change the keystrokes.
3.
Select the required Swipe ECN (e.g. INET) and the Swipe Factor (e.g. 0.001), and
specify if the swipe should be based on the Inside Market or ECN Market.
The SOES Delta Keys allow you to send SOES limit orders at a
specified increment above the market price.
Graybox – User Manual_v3.63
50
To set the increment,
On the context menu, click Setup > Swipe.
In the SOES Delta Value field, enter the decimal value of the increment for the limit
price.
By default, SOES Delta key functions are disabled and no keystrokes are
assigned. To use hotkeys, go to the Keymap Configuration and assign
appropriate keystrokes to the key functions and enable them.
5.7. Setting Up Keyboard Shortcuts
In this version of Graybox, the Keystrokes are divided into three lists:
• Keystrokes for the Graybox main window
• Keystrokes for the Market Maker window
• Keystrokes for the Preference and Listed Trading window
Figure 47: Key Map Configuration Window
Refer to Figure 47 above. All keys that are currently in use are in blue. The key
combinations for the different functions are in yellow.
When you highlight a function, the keystroke is highlighted in yellow. For example, when
you highlight "Cancel All Buy Orders", the keystroke Alt + F12 gets highlighted in the
Regular Keyboard.
To customize the keystroke, perform the following steps:
Graybox – User Manual_v3.63
1.
Select the function for which to customize the keystroke.
2.
In the Key column, click the existing keystroke. For example, in the Pop-up
window, click the keystroke F12 which relates to the function “Cancel All Buy
Orders”. The F12 key in the Regular KeyBoard turns yellow.
3.
To change the keystroke from F12 to F11, click the F11 key from the Regular
KeyBoard.
4.
Click Change to save the changes.
51
If the new keystroke you select is already in use for another function, a dialog
box appears with the message. You must either change the other keystroke first
so there is no conflict, or disable the current keystroke.
To disable a function in the keystroke configuration table, double click
in the Disabled column.
It is a good idea to disable any keystrokes that you do not use,
especially if you are a new trader.
You can return to the default key mappings at any time. To return, click the Set Default
button. This deletes all the keyboard shortcuts that you defined.
5.8. Trailing Stop Order
You can set up the trailing stop orders for your trades. For more information on trailing
stops, refer to Trailing Stops– Buy/Sell 4.4.
To set Trailing Stops, right click on the main Graybox window > Setup >Trailing
Stop
Figure 48: Trailing Stops - Setup Window
You can define appropriate Trailing Stops from the Trailing Stop window Defaults frame.
You can define Trigger order from the ‘Trigger Based On’ dropdown menu. The menu
consists of Last print, bid, ask, and Print- Primary Exch. Then, you define the Trailing
Stop Use from the drop down menu. The menu consists of Stop Price, Delta from Market,
and % from Market.
You can also define the Trailing Stops through Direct Trailing Stop Hot Key frame. You
can select Direct Trailing Stop Hot Key from the drop down menu. The menu consists of
Use Delta from MKT, Use % from MKT. Then, you define Value from the drop down menu
of Value.
Graybox – User Manual_v3.63
52
You can then set Stop Trigger from the drop down menu of Stop Triggered By. The menu
consists of Last Print, Bid, Ask and, Last print – Primary Exc. Finally, you can define the
destination exchange from the drop down menu of Destination. The menu consists of
BELZ/SOES, NYSE Direct/SOES, AMRO/SOES and, SMART ORDER.
5.9. Showing or Hiding Parts of Graybox Main Window
You can set the viewing parts of Graybox main window. To show or hide parts of the
Graybox main windows:
1.
Click View in the main menu and select the options from the dropdown menu.
Options of dropdown menu are:
o Notifier – shows all system messages related to Graybox
o Hedges monitor
o Locates monitor – shows the stocks available for the trader which can be the
deciding factor for the short sell of those stocks.
o Messages - shows or hides the Incoming Messages such as login/logoff to the
server, connectivity status, and emergency messages and so on.
o Positions - shows or hides the Position window which shows your positions
and your current available buying power
o Executions - shows or hides your executions
o Market Clock – shows or hides the market clock
o Menu - shows the menu at the top of the Graybox Active Order window
o Status Bar - shows or hides the ECN Status Bar which shows the current
status of the connection between Graybox and ECNs
o Tool Bar – shows or hides the tools buttons at the top of the Graybox active
order window
o Title – shows or hides the title on the Graybox active order winndow
o Always on Top – This option sets the current window to display always on top
of other window.
2.
Select the options that must be displayed.
Always on Top, & turning on / off the title, menu, status, and tool bar
option is available in most of the Graybox windows like Positions
monitor, Market Clock, Execution ticker, Notifier window, Hedges &
Locates monitor.
5.10. Mini OE Setup
To access Mini OE setup, right click on the Graybox active order window, from setup
menu miniOE setup can be accessed.
1. You can set the options in Default ECN’s to be displayed in mini OE window
2. Enable/ Disable options for “Enable Point and Click to set price”, “Enable enter key
to set order”, and “Enable Double click to Send order”.
3. To create and edit mini OE short cut – send order buttons. To create a button
select a destination, select a price and choose a buy or sell action, then click
create. A new button will be created at the bottom of the miniOE window with the
selected options. Clicking on this button will send order for the selected stock.
Graybox – User Manual_v3.63
Figure 49: mini OE Setup
5.11. Graybox Main Window – Setting Colors
You can set the colors for the Main window. To change the foreground and background
colors for the Stock and Quantity boxes and the message bar, perform the following
steps:
1.
Right-click the Active Order window. The Graybox menu appears.
2.
Select Setup, then Color. Color Option window appears:
Figure 50: Color Options Window
3.
Click the
appears.
button next to Foreground or Background. The color window
4.
Select any color.
5.
Click OK.
6.
Click OK again to save your changes.
5.12. Graybox Main Window – Setting Font
You can set the fonts for the column headings and tabs in the Graybox main window:
1.
Right-click the Active Order window. The Graybox menu appears.
2.
Select Setup The Fonts window appears.
53
Graybox – User Manual_v3.63
3.
54
Select the required font and then click OK.
5.13. Graybox Main Window – Setting Sounds
Whenever a trading event such as an execution, a partial fill, a confirmation, a
cancellation, or an error occurs, Graybox can play a sound for confirmation.
Graybox has a set of default sounds, or you can use any .wav file of your choice.
To set the sound for trading events:
1.
Right-click the Active Order window. The Graybox menu appears.
2.
Select Setup, then Sounds. The Sound Setup window appears:
Figure 51: Sound Setup Window
3.
For each event that you want to associate a sound with:
a. Click the
button next to the event. A list of sounds appears.
b. Select the required sound.
c. Click OK.
4.
Repeat this step for each event that you want to associate a sound with.
5.
When you are finished with assigning sounds, click OK.
To protect your trading application from unauthorized access, you can
change password as often as you wish. To change your password, See 2.4
Changing Password
Graybox – User Manual_v3.63
5.14. Changing Server and Router Settings
You can change the Server and Router settings of your Graybox application.
Every configuration setting made in the System Configuration window is
saved to the data base and could impact trading. Please take trade/tech
support assistance while configuring this window.
To change the settings:
1.
Right-click the Active Order window. The Graybox menu appears.
2.
Select Setup, then Servers. The System Configuration window, as shown in
Figure 52, appears:
Figure 52: System Configuration Window
3.
Configure the server and router settings.
The Graybox Quotes box must be selected to activate the Graybox
quote display. For correct settings, contact the support group.
5.15. Links
To link charts from the Graybox in MM windows and in ECN
55
Graybox – User Manual_v3.63
• Open charts from the main GrayBox, and then open two MM windows with
different stocks subsequently.
eSignal is a charting software which can be linked with Graybox. Perform the following
steps to link eSignal:
1. Right-click the Graybox icon and then Click Properties. The Graybox Properties
window is displayed.
2. Click the Compatibility tab and select Run this program as an administrator.
3. Click Apply and then click OK.
4. Right-click the eSignal icon and then Click Properties. The eSignal Properties
window is displayed.
5. Click the Compatibility tab and select Run this program as an administrator.
6. Click Apply and, then click OK.
7. Click the Graybox icon to Log on to the application.
8. Enter your trader ID and password in the Trader ID and Password fields.
The administrator will provide your Trade ID and
Password.
You can change the password after the first login.
9. Click OK. The Graybox main window and eSignal main window appears.
10. Click Page and then click Advanced Charting in the eSignal main window.
11. Right-click MM window and then click Setup.
12. Click ESignal Link Scheme and select the required color from available choices.
13. Right-click MM window and then click Setup.
14. Click ESignal Link Type and select the option Both.
15. Click Page and then Save Page to save the page.
5.16. Cancel Order
You can cancel orders from the Graybox main window. Canceling orders from Graybox
main window menu will enable you to execute your cancels faster, as you can place
cancel orders in groups for Buy, Sell, and Selected orders. To place cancel orders
through hotkeys:
1.
Right-click the Active Order window. The Graybox menu appears.
2.
Select Cancel from the Trading dropdown menu.
3.
Select the orders that you wish to cancel.
4.
Click OK.
OR
5.
Click on ‘Trading’ Menu from the active order menu.
6.
Select Cancel from the menu.
7.
Select the orders that you wish to cancel.
8.
Click OK.
56
Graybox – User Manual_v3.63
Figure 53: Cancel Order
57
Graybox – User Manual_v3.63
5.16.1.Cancel/Replace Orders -Hotkeys
Figure 54: Cancel/Replace Orders -Hotkeys
More information on Cancel/Replace orders hotkeys is provided in 4.6 Canceling an
Order.
58
Graybox – User Manual_v3.63
59
6. Market Maker Window Configuration
This section explains the configuration of Market Maker window of Graybox.
6.1. Market Maker Window
Market Maker window displays the quotes of the selected stock. MM window displays the
pending orders that are awaiting execution.
To open a Market Maker window
• Click New > Market Maker in the Active Order window. You can open multiple
MM windows.
Level 1
View
Show
Alerts
Level 2
Display
Prints
Figure 55: Market Maker Window
When you type in the symbol of the stock in the top left field, Market Maker displays the
live quotes of the stock.
Market Maker window is divided into two parts. While the upper part displays information
such as last traded price, bid and ask prices, net change from previous day’s close, and
volume etc about the selected stock, the lower part displays the real time quotes of Bid
and Ask for different ECNs in a stream.
Market Maker window has an option to auto locate symbols. When a symbol for hard to
borrow stock is entered, a “Locate” button is displayed, using which symbols are
located.Information displayed in the upper part of Market Maker consists of:
• Lst: Last Traded Price
• Net: Net change in price from previous day’s close
• Vol: Total volume of shares traded
• Imb: Market and Market on Close imbalances
Graybox – User Manual_v3.63
60
• Bid & Shr: Highest Bid and number of shares bidded for
• Ask & Shr: Highest Ask and number of shares on offer
• Cls: Previous day’s closing price
• % Int: Percentage of Imbalances with respect to volume traded
• Opn: Day’s opening price for the stock
• OBI: Open Bid indicator – shows the approximate bid value
• Low & Hi: Lowest and highest prices the stock is traded for the day
• Time: Last traded time
• OAI: Open Ask indicator – shows the approximate Ask value
• Thermograph: Indicates volume trend. Green indicates higher volume in Ask
orders, while red indicates higher volume in Bid orders
You can change the display in Market Maker view for Level1/Level2/Thermograph and
Prints.
To change the display, Select/Deselect – Level1/Level2/Thermograph and Prints,
depending on the view you want to set.
Figure 56: Market Maker View Setting Menu
For the active symbol in Market Maker window, Market data can be
accessed by clicking on the Open Yahoo! Finance link on the
settings menu, A keyboard shortcut key can also be defined from
the Keyboard Configuration settings for quick access.
This will open the Yahoo Finance page with the active symbol.
6.1.1. Level 1 Display
This section explains Level 1 display of Market Maker.
6.1.1.1. Use Primary Exchange for Last Price
You can use primary exchange for last price in the Market Maker. To set primary
exchange:
Graybox – User Manual_v3.63
61
Right-click in the Market Maker window, select Setup > Level1Quotes
>Use Primary Exchange for Last Price.
•
Figure 57: Market Maker Window for Level 1 Display
6.1.2. Level 2 Display
This section explains Level 2 display of Market Maker.
6.1.2.1. Changing Display of ECN Books
ECN books shown in the Market Maker window can be either Inside Market or full
market. You can change the display of ECN books.
To change the display of ECN books:
•
From the Market Maker menu, Select ECN Books, then select the market
you want to view for the ECN Book. See Figure 58.
Graybox – User Manual_v3.63
62
Figure 58: ECN Books Configuration Window
6.1.2.2. Highlighting a Particular Market Maker
You can highlight a particular Market Maker. This draws attention to the spurt in
the movement of the stocks. To highlight a particular Market Maker:
1. Select Hi-Lite MarketMaker in the Market Maker menu. Hi-Lite
MarketMakers window appears.
Figure 59: Hi-Lite Market Makers Window
2. Select the Market Maker, and then Click >> to move the selected Market
Maker to Hi-Lite.
You can select and highlight multiple Market Makers. Repeat step 2
for each Market Maker you want to highlight.
3. From the dropdown menu of Style field, select either black or red as the
highlighted color.
4. Click OK to save.
Graybox – User Manual_v3.63
63
6.1.2.3. Ignore Market Maker Quotes
You can clear the Market Makers and ECNs from Graybox display. This does not
remove them permanently. When you reload the box, they re-appear.
If you select Ignore All Crossed Quotes, then all quotes that do not match with
the level 1 data are automatically ignored.
Figure 60: Ignore Market Maker Quotes Window
You can also save the list of Ignored Market Maker in the Graybox layout.
To get back the Ignored Market Makers:
•
Open Ignore MarketMaker Quotes window and remove the required Ignore
Market Makers from the Ignores list.
To move the MarketMakers from Ignores to Visible box individually,
•
Select the required MarketMaker and click <.
To empty the Ignores list,
•
Click <<.
6.1.2.4. Sorting and Rounding quotes in the Market Maker Window
You can customize the order of the MarketMakers and ECNs by sorting. SeeFigure
61. If you select Volume, the MarketMakers and ECNs are shown in the order of
highest volume.
Similarly the quotes can be rounded off to the nearest selected value.
Figure 61: Market Maker Window for Sort & Round Quotes
Graybox – User Manual_v3.63
64
6.1.2.5. Order Buttons in the Order Entry Window
You can customize column headers in the order entry window of the Market
Maker. This enables you to view the orders of selected ECNs as you prioritize
them.
To customize:
1. Right-click the market maker window, select Setup > OrderEntry
Window > Order Buttons. The Order Buttons window is displayed.
See Figure 62.
Figure 62: Order Buttons Window
2. Select the required headers and move to Column Headers.
6.1.3. Prints
You can set the Prints area of Market Maker window. To set the Prints area:
Select Setup > Prints in the Market Maker menu. See Figure 63.
Figure 63: Market Maker Menu Window
You can enable/disable “Show Time, Show Exchange Id, and Change Order”. This
shows the time and exchange Id in the Prints area. The Change Order option is used
to change the display area in the Prints Area. See Figure 64.
Graybox – User Manual_v3.63
Exchange ID
Figure 64: Prints Area of Market Maker Window
6.1.3.1. Filtering the Prints Display
You can filter the Prints of the Market Maker window. To filter:
•
Select Setup > Prints > Filter. The Prints Filter window appears. See
Figure 65.
Figure 65: Prints - Filter Window
6.1.3.2. Showing/Hiding the Time
You can set the Showing/Hiding the Time option as per the requirements
To show and remove the time in the Prints column:
•
Right click on the Market Maker window, select SetUp > Prints > Show
Time.
65
Graybox – User Manual_v3.63
66
6.1.3.3. Always On Top
You can set Market Maker window Always On Top of other windows or screens of
the Graybox application.
To set Market Maker window Always On Top:
•
Select Always On Top in the Market Maker menu. See Figure 63.
Minimizing Graybox minimizes all Graybox quote display windows.
6.1.3.4. Changing the Font
You can set different fonts for different stocks and price levels in the Market
Maker window. To change Fonts:
1. Select Setup > Font > Custom.
2. Select the required Font and Click OK or click Auto Size to return to
original.
6.1.3.5. Changing the Colors for Price Levels
You can change colors for different stocks and price levels in the Market Maker
Window. To change the colors:
1. Select Colors, Setup > Color > Custom.
Figure 66: Custom Color Window
2. Click the color for the price level you want to change. The window Color
menu appears.
3. Select the color you want to use, and then click OK.
Alternatively,
Click Define Custom Colors, select the color on the window, and
then click OK.
4. Click OK to save changes or click Default to return to original.
Graybox – User Manual_v3.63
67
6.2. Time & Sales
Time & Sales provides with real time data of securities with volume, time of
execution, price and exchange.
You can open Time and Sales by clicking the
“Market Maker” window. See Figure 67.
icon from “Order Entry” or
Menu in time and sales has options to change colors, display the data with gridline
and show quantity in multiple of 100s for easy visibility.
Figure 67: Time & Sales window.
Search options available are
•
Get Last – available in conditions of a minute to hours and Full day. See
Figure 68
•
Custom – Available for a selected date, between a time intervals. See
Figure 69
Graybox – User Manual_v3.63
Figure 68: Time & Sales Get Last Search
Figure 69: Time & Sales Custom Search
•
Data in Time and Sales can be customized and filtered according to
Exchange, Trade Condition (Trades, Bids and Asks) and Minimum Size.
See Figure 70
68
Graybox – User Manual_v3.63
69
Figure 70: Time & Sales Filter
6.3. ECN Book Window
You can set the ECN books in the Market Maker window to Inside Market, full market, or
none. In the Inside Market setting, you can see the best Bid and Ask on that ECN. In
the full market setting, you can see the list of all the Bids and Asks at different levels for
all the available ECNs.
ECN Books can be opened from the “New” menu from Graybox active order window, or
icon in active order window, or from market maker window.
through the
To change the display:
1.
Select ECN Books in the Market Maker menu, and then select the ECN Book view.
2.
Repeat step 1 for each ECN book, as required.
To open a window for ECN Book quotes:
Click
in the shortcut bar or in the MM box Click
.
ECN books brought up in this fashion are automatically linked to the
MM box.
Graybox – User Manual_v3.63
70
Figure 71: ECN Book - Power Shares Exchange
6.3.1. Changing the Colors
You can change the colors for different stocks and price levels. To change the colors,
Refer 5.11 Graybox Main Window – Setting Colors. To change back to the Default
Colors, Select Setup Colors in the ECN Book menu, then Select Default.
Figure 72: Default Color Setting
6.3.2. Changing the Font
You can set different fonts for different stocks and price levels in the ECN Book. To
change the Font, see 5.12 Graybox Main Window – Setting Font.
6.3.3. Showing/Hiding Executions and Cancels
You can set the Showing/Hiding Executions and Cancels in the ECN Book.
Graybox – User Manual_v3.63
71
To show or hide the Executions column:
1.
Select Show Executions in the ECN Book menu.
2.
Select Show Cancels in the ECN Book menu.
6.3.4. Filtering ECNs in the ECN Book
You can filter ECNs in the ECN Book.
To filter ECNs in the ECN Book:
1.
Select Filter in the ECN Book menu. The ECN Book Filter window appears.
See Figure 73.
Figure 73: ECN Book Filter Window
2.
Type the name of the ECN in the ECN field, then Click Add. The added ECN
appears in the Filtered List field.
3.
Click OK.
To remove any ECN from the Filtered List,
•
Select the ECN, Click Remove, and Click OK.
6.3.5. ECN Book Window – Always On Top
You can place the ECN Book window Always On Top of any other windows or
screens. To set the ECN Book window appear Always On Top:
Select Always On Top in the ECN Book menu.
6.3.6. ECN Book Window – Aggregate by Price
You can set the ECNs on price aggregate. For example, instead of viewing all the
INET bids at a particular price, you can view one bid with the volume aggregated for
ECNs.
6.4. Charts
You can view the movement of the stock through different charts such as tick, bar,
candle, line, and day charts. For example, Tick chart view of IBM stock is as displayed in
Figure 74.
To open charts:
Click the
icon in the Market Maker window and select the appropriate chart view
from the dropdown menu for your chosen stock.
Graybox – User Manual_v3.63
72
Figure 74: Chart View of a Stock
6.4.1. Interval
An interval is a gap between prints to be plotted. You can set an interval to Bar and
Day charts. An Interval can vary from 1 minute to one day based on the type of
Chart.
An Interval cannot be set for Tick Chart.
To set the interval, Right Click on chart and Select Interval or use the drop down
box option to set interval as shown below in Figure 75.
Figure 75: Interval Setting Window
Graybox – User Manual_v3.63
73
6.4.2. Show Last
Along with the interval, you can also set the Show Last duration for the chart
display.
To set Show Last Right Click on chart and Select Show Last or use the drop down
box option to set Show last option as shown below in Figure 76:
Figure 76: Show Last Setting Window
6.4.3. Edit Chart Dialog
You can also set Interval, Show Last, and Chart Type through Edit Chart Setup. To
set through Edit Chart Setup, Click on the Edit Chart setup Icon in the chart, or
Right click and select Edit Chart option. The Chart Setting Dialog window appears.
See Figure 77. Chart Setting Dialog window enables you to make settings in Tick
Chart, Bar Chart, and Day Chart tabs.
Figure 77: Chart Settings Dialog Window
Graybox – User Manual_v3.63
6.4.4. Show Volume
Along with the interval, you can also set the “Show Volume” duration for the chart
display. To set the “Show Volume”:
Right-click chart window, and select Show Volume.
Figure 78: Show Volume
6.4.5. Information Panel
You can view the details like date, time, Current value, and volume along with the
chart display. To set the “Information panel”:
Click on the Info Panel Icon in the chart or Right click on the chart window, and
select Information Panel from the menu. See Figure 79
This dropdown menu consists of the following options:
o Always On
o On Mouse Click
o Never
74
Graybox – User Manual_v3.63
Figure 79: Information Panel
6.4.6. Series Style
To set the Series Style, Right click on chart window, and select Series Style and
then select the required option. See Figure 80
This Dropdown menu consists of the following options:
o Solid
o Dot
o Dash Dot
Figure 80: Series Style
75
Graybox – User Manual_v3.63
76
6.4.7. Color Settings
You can set the thickness of the chart line, background, and foreground color of the
chart area. To set the ”Color Settings”, Right click on chart window, and select Color
Settings from the Market Maker menu. See Figure 81
Figure 81: Color Settings
Apart from Series and Color, the Weight Dropdown menu consists of the following
options:
o Thin
o Med
o Thick
o Very Thick
Other options such as the background, foreground and trend line colors can be chosen,
along with the colors specific to the chart.
6.4.8. View Chart Data
You can view the chart data in the case of Bar Chart. To view the chart data, Right
click on chart window, and select the view chart data. See Figure 82
Figure 82: Chart Data Point
Graybox – User Manual_v3.63
77
6.4.9. Draw Trend Lines
You can draw trend lines over the chart to indicate a trend. To draw a trend line,
Right click on chart window and select “Draw Trend Line” or click on the “Trend Line”
Icon. See Figure 83.
Figure 83: Draw Trend Line
6.4.10.Draw Horizontal Lines
You can draw Horizontal lines over the chart to indicate highs and lows. To draw a
Horizontal line, Right click on chart window and select “Horizontal Line”. See Figure
84.
Figure 84: Draw Horizontal Line
Graybox – User Manual_v3.63
78
6.4.11.Studies
You can do technical analysis of charts by using the studies option. To select
“Studies” Right click on chart window and select “Studies”, or click on “Studies”
Icon. See Figure 85.
Figure 85: Chart Studies Selection
The “Studies” options available are
•
Simple Moving Average
•
Exponential Moving Average
•
Weighted Moving Average
•
Momentum Oscillator
•
MACD
•
Bollinger Bands
•
Relative Strength Index
•
Stochastic Oscillator
•
Stochastic Momentum Index
•
MACD Histogram
6.4.11.1. Selecting a Study – SMA
After selecting “Studies” you can choose “Simple Moving Average” and click “Add
Indicator”. The “Simple Moving Average” will be added to the list and a settings
dialog for the study “Simple Moving Average” will be displayed. See Figure 86.
Figure 86: Chart Studies - SMA Settings
Graybox – User Manual_v3.63
79
Once the Settings are chosen, click “Apply”. A chart with “Simple Moving
Average” value and pattern will be displayed. See Figure 87
Figure 87: Chart Studies SMA
6.4.11.2. Multiple Studies
Similarly you can choose multiple studies for Technical analysis. Simply choose
the required study from the “Studies” dialog box and click on “Add Indicator. See
Figure 88
You can also choose multiple settings of the same study for technical analysis.
Figure 88: Chart Studies – Multiple Studies
Graybox – User Manual_v3.63
80
6.4.11.3. Merge Charts
Merge Charts provides comparison of price movements between two symbols.
You can merge price movements of two symbols by choosing the “Merged” option
from the “Edit Chart” Dialog box.
From the “Edit Chart” dialog box enter the “Linked Sym” and “Overlay Sym”.
Choose the type of graph to display, put a check mark on the “Merged” box and
click “OK”. See Figure 89
Figure 89: Merge Chart Settings
The Merged charts is displayed as shown in Figure 90
Figure 90: Merged Charts
Options in Sections 6.4.11 are not available with chart type Tick Chart.
Graybox – User Manual_v3.63
81
6.5. BoardView
Graybox BoardView provides trading information such as Last Traded Price, Net Change,
Best Bid, Best Size, Best Ask, and Best Size etc for selected stocks.
BoardView can also be used to send Basket orders. Basket order option is available from
the sub menu as shown below.
1.
Click the
appears.
icon in Graybox main window. The Graybox Broadview window
2.
Right-Click the BoardView window. The Broadview window sub menu appears.
See Figure 91.
Figure 91: GrayBox BoardView Window
6.5.1. Adding Symbols
You can add stock symbols from the BoardView. You can add as many symbols as
required.
Type in the symbol number,
•
Press ENTER, and then type in another symbol. The typed symbols are
added to the BoardView.
To add symbols,
•
Right-Click the BoardView window, Click on Symbols. See Figure 92. Add
required Symbols. Click OK.
Board View after adding the symbols appears as shown in Figure 92.
Figure 92: Graybox BoardView with Symbols Added
Symbols in BoardView can be dragged and dropped to Market Maker
window. Market Maker window will show the dropped symbol
Graybox – User Manual_v3.63
82
6.5.2. Imbalances
Imbalances of the symbol can be displayed in board view by selected the Imbalance
columns from Column setup. Imabalnces of both NASDAQ and NYSE stocks are
available. When “Imb” and “Imb%” columns are selected, the imbalances will be
displayed when the Imbalance data is available.
6.5.3. Load from Analytics
You can load stocks from Analytics. Analytics option provides All and Top 10 to 30
Imbalances for Buy, Sells, and Both for the day. Top 10 to 30 imbalances can be
loaded by percentage also. See Figure 93. This allows you to make instant trading
decisions and take or switch between positions based on Analytics.
To Load from Analytics, right-click the BoardView window. The sub menu appears.
See Figure 93.
Figure 93: Load from Analytics Window
6.5.4. Customizing Headers
You can customize the Column Headers in the BoardView default screen.
To customize Column Headers,
1. Click on the
icon in Graybox main window. Graybox Broadview
window appears.
2. Right-Click the BoardView window. The sub menu appears. Figure 94.
3. Right-click > Setup > Columns Select/Deselect the Column Headers
using the > and < arrows.
You can also rearrange the Column Headers by selecting and moving them Up and
Down to see the BoardView in required order. See Figure 94.
Graybox – User Manual_v3.63
83
Figure 94: Column Headers for BoardView
6.5.5. General Option
You can make General Setup of BoardView. Select the General Option in the
submenu. The BoardView Setup General window appears. See Figure 95.
Figure 95: BoardView Setup General Window
The window is self-explanatory and you can select the required options.
6.5.6. Refresh Interval
You can set a refresh interval option to refresh the BoardView. Setting this option
refreshes trading data information of a specific stock at specified intervals and
enables you to make or change trading decisions.
This setting is generally for the BoardView to sync up with the MM window’s Level 1
data and is particularly useful for stocks traded with very low volumes or not traded.
Figure 96: BoardView Refresh Interval Window
Graybox – User Manual_v3.63
84
6.6. Ticker
To open a separate Ticker,
• Click the
in the Graybox main menu.
The right-click option consists of the following options:
o Setup
o Show Time
o Caption
o Always on Top
o Jet
o Cascade
o Format – shows the option of Colors and Fonts
o Clear
6.6.1. Setting Up the Ticker
To set up the ticker,
• Right-click ticker panel, and Select Setup. Ticker Setup window appears. You can
add symbols as shown in Figure 97.
Figure 97: Ticker Setup Window
You can Select either Jet or Cascade Format and insert them at Top or Bottom of the
window. See Figure 97: Ticker Setup Window. Here, Cascade mode and Bottom
options are selected.
Show Time Ticker in Cascade and Jet Modes are shown in Figure 98 and Figure 99
respectively.
Graybox – User Manual_v3.63
85
Figure 98: Cascade Ticker
Figure 99: Jet Ticker
6.7. NYSE Open Book
NYSE Open Book provides a real-time view of the Exchange's limit-order book for all
NYSE-traded securities. Through the NYSE Open Book, you can see aggregate limit-order
volume at every bid and offer price and the depth-of-market data.
To open the NYSE Open Book,
• Click on the
Menu.
icon in Market Maker window or click the
Figure 100: NYSE Open Book Window
icon in Main
Graybox – User Manual_v3.63
6.7.1. Set Up Colors/Font
You can set up Color/Font as shown in Figure 100.
6.7.2. Show Size in 100s
You can set the Qty display size in 100s as shown in Figure 100.
6.7.3. Show Time
You can set the Show Time option. See Figure 100. Enabling this option displays
time. You can disable this option by clearing it.
6.8. Hedges and Locates
Hedges and Locates window shows the hedges taken by the trader.
Figure 101: Hedges and Locates Window
86
Graybox – User Manual_v3.63
6.9. Market Clock
Market Clock shows the current market time with date and market open close
status.
Market clock is opened from the Order entry Window, View, Market Clock.
See Figure 102
Figure 102: Market Clock
87
Graybox – User Manual_v3.63
7. Back Office Functions
This section explains the back office functions of Graybox.
7.1. Viewing Statistics
The Statistics screen shows all your trades for the day with the number of trades, the
volume on ECNs, SelectNet, and Profit and Loss.
7.2. Graybox API
Details of Graybox API is available in http://support.hold.com/api
7.3. Web Blotter
Web Blotter with details of trading can be accessed from Graybox main window, Tools
menu, Web Blotter.
88
Graybox – User Manual_v3.63
89
8. Appendix
8.1. Frequently Asked Questions (FAQ’s)
1) How to load or save the layout?
To Load a Layout go to File Menu Layout Load - Choose a layout from the pre saved
xml layouts.
To save a Layout Go to File Menu Layout Save - After making changes to existing
Layout save layout.
To save to a different name go to File Menu Layout Save as, give a name and
save.
Alternatively layouts can be loaded, and saved using the options available from the right
click menu of the Graybox main window.
2) Moving the main window, the position window also moves along, How to
avoid this?
To avoid this, change settings on the Trading options. To change - Right click on the
main window Trading Options Positions Dialog Mode (at bottom left side) Change it
from Docked to Floating.
3) How to enable or disable the Mini- order entry part on the MM window?
In the Marketmaker window right click View Mini Order Entry. If there is a check
mark then Mini - order window is enabled. Uncheck to disable mini order entry
4) How to enable or disable the Order- entry part of the MM window ?
In the MM window right click View Order entry. If there is a check mark then Order
entry window is enabled. Uncheck to disable order entry window.
5) How to limit number of ECN order buttons displayed in the Order Entry
Window?
To view only certain ECN order entry buttons in Order entry window, In the MM window
right Click Setup Order Entry Window Configure order entry button. A new
window Opens. Two panes display the ECN button options, right side pane displays ECN
buttons that are available in order entry window, left side pane shows buttons that are
not available. Selecting the ECN and moving them between the two panes will change
the order entry buttons accordingly.
6) How to highlight ECNs in the Level 2 area of MM Window?
To Hi-Light certain ECN's, In the MM window right Click Hi-Light Market Makers A
new window will open, Select the ECN's that needs to be hi-lighted and click the button "
> " to move the selected ECN's to Hi-Lite (from left pane to right pane) then click OK.
7) How to remove crossed quotes?
Graybox – User Manual_v3.63
90
To remove crossed quotes, In the MM window right Click Ignore Market Makers A
new window will open. In that window put a check mark net to “Ignore All Crossed
Quotes”.
8) How to ignore unwanted ECNs in level 2 montage of Marketmaker window?
To view only certain ECN's, In the Marketmaker window right Click Ignore Market
Makers A new window will open
By default all ECN's will be Visible - to remove unwanted ECN's from MM window Select
the ECN's and click the button " > " to move the selected ECN's from Visibles to Ignores
then click OK.
9) How to open Boardview and include stocks on it?
To open a Boardview from the main window select the New menu Boardview A new
Boardview window will open. Enter the stock and hit enter. Do the same to add more
stocks in that Boardview.
Alternatively Boardview can be opened from Graybox main window and Marketmaker
window by clicking on the Boardview Icon.
10) How to open Charts on Graybox?
In the MM window or in the main window click on the charts icon to launch charts.
Charts can be opened from the New menu Chart, this will also open a chart.
Historical data has to be enabled for seeing old data in charts, contact us for details.
Otherwise only current data is updated.
11) How long does it take to master the software?
Depends on person to person and how often how often you use it. Based on the existing
customer experience it takes 2-3 weeks.
12) How often is Graybox™ software updated?
Since our Graybox software is developed by traders for traders and we utilize in house
programmers, it's updated whenever our programmers determine there's a better way to
enable your trades. Instead of waiting for quarterly major updates, fine-tuning updates
are generally released every few weeks. Hold Brothers has placed over 70 man years of
programming into Graybox™.
13) Do you offer tech support for Graybox™ software?
Yes. Contact support@hold.com; helpdesk@hold.com; or call 646-745-2222.
14) What kinds of securities can Graybox™ software handle?
Our Graybox software enables you to trade NASDAQ and NYSE and AMEX listed stocks.
15) What trading styles can Graybox™ software handle?
Scalper, momentum, position, rebate and swing. We haven't met a style we couldn't
handle.
Graybox – User Manual_v3.63
91
16) Can I use third-party quotes with Graybox™ software?
Yes. Graybox software currently links to eSignal. Contact us (support@hold.com) for
details.
17) What if my quotes in market maker window are stuck?
Use the option to reconnect to servers when your quotes are stuck. This is available from
the menu “ConfigurationReconnect All –Use Primary Settings” or
“ConfigurationReconnect All –Use Secondary Settings” from the Graybox active order
window.
Graybox – User Manual_v3.63
92
8.2. Graybox Installation
8.2.1. Computer requirements
Big is good. Faster's even better. Graybox is available in 64 bit and 32 bit versions and is
compatible with Windows 7, Vista, Windows XP and Window 2000, Intel Core 2 Duo 2.4
GHz or higher, 4 GB RAM, VGA adapter with a minimum of 128MB on-board video
memory.
8.2.2. Supported Internet Connections
Cable modem, DSL, ISDN, T1, and T3. Dial-up connections are just not fast enough to
support Graybox™ software.
Using a Wireless connection is not advised because there might be a latency/delay
between the wireless router and your PC which will slow the data flow.
8.2.3. Graybox Installation & Configuration
Graybox Installer software is available at http://support.hold.com/
Download the file and double click to install.
Follow on screen instructions to complete installation.
Installer will configure the software automatically. If you need information on
configuration, please check “Server Configuration” link in http://support.hold.com/.
8.3. Graybox Exchange codes displayed in Prints
Destination ID
A
B
C
D
E
I
J
K
M
N
P
T
W
X
Y
Z
Exchange Name/ Description
NYSE AMEX
NASDAQ OMX BX
National Stock Exchange
FINRA
Consolidated Quotation System
International Securities Exchange
Direct Edge A
Direct Edge X
Chicago Stock Exchange
New York Stock Exchange
NYSE Arca SM
NASDAQ OMX
CBOE Stock Exchange
NASDAQ OMX PSX
BATS Y-Exchange, Inc.
BATS Exchange, Inc.
Graybox – User Manual_v3.63
93
8.4. Graybox Symbology
Graybox Standard
Type Of Symbol
(max 8 chars)
Preferred
XXX$
Preferred Class A (also B-T and V-Z)
XXX$A
Class A (also B-T and V-Z)
XXX.A
Preferred When Distributed
When Distributed
Warrants
XXX$.D
XXX.D
XXX.W
Warrants Class A (also B-T and V-Z)
XXX.W.A
Called
XXX*
Class A Called(also B-T and V-Z)
XXX.A*
Preferred Called
XXX$*
Preferred "A" Called (also B-T and V-Z)
XXX$.A*
Preferred “A” When Issues (also B-T and V-Z)
XXX$.A.V
Emerging Company MarketPlace
XXX.E
Partial Paid
Convertible
XXX@
XXX%
Class Convertible
XXX.A%
Covertible Called
XXX%*
Rights
XXX.R
Units
XXX.U
When Issued
XXX.V
Rights When Issued
XXX.R.V
Preferred When Issued
XXX$.V
Class "A" When Issued (also B-T and V-Z)
XXX.A.V
Warrant When Issued
XXX.W.V
Graybox – User Manual_v3.63
Glossary
Term
Description
AMEX
American Stock Exchange (AMEX) is a stock exchange situated in
New York and was a mutual organization, owned by its members.
BATS
BATS is a stock exchange based in Lenexa, Kansas, Missouri and
was founded in June 2005 as an ECN and its name stands for Better
Alternative Trading System. In early 2009 it became the third
largest exchange in the world by volume behind the New York Stock
Exchange and NASDAQ.
BoardView
BoardView is the feature available in the Graybox which provides
trading information such as Last Traded Price, Net Change, Best Bid,
Best Size, Best Ask, and Best Size etc for selected stocks.
ECN
Electronic Communications Network (ECN) is a completely
automated network, anonymously matching buy and sell orders and
has been described as the “black box” of securities trading.
ESignal
ESignal is charting software which can be linked with the application
Graybox.
Graybox
Graybox™ trading software application from Hold Software.com Inc
is a state-of-the art, easily configurable trading software to date.
Locates
monitor
Window
This window shows the stocks available for the trader which can be
the deciding factor for the short sell of those stocks.
Market
Maker
Window
Market Maker window displays the quotes of the selected stock and
pending orders awaiting execution.
NASDAQ
National Association of Securities Dealers Automated Quotations
(NASDAQ) is an American stock exchange which is the largest
electronic screen-based equity securities trading market in the
United States.
Notifier
Window
The Notifier window displays all system messages related to Graybox
which include periodic system announcements that are made by the
Graybox system administrators.
NYSE
The New York Stock Exchange (NYSE) is a stock exchange located
at New York City, USA and is the world's largest stock exchange by
market capitalization of its listed companies.
Position
Window
The Position window displays stock position details. This window is
divided into two parts. The upper part of the window displays a
detailed stock position and the lower part displays the summary.
94
Graybox – User Manual_v3.63
95
INDEX
B
basics, 9
BoardView, 81, 82, 83, 94
Market Maker, 25, 29, 40, 41, 47, 50, 59,
60, 61, 62, 63, 64, 65, 66, 69, 71, 72, 73,
74, 76, 85, 94
Messages window, 16, 17, 37
Multiple Swipe Keys, 48
C
N
Cancel Order, 37, 56, 57
Canceling an order, 37
Normal, 40, 42
Changing a particular order, 26
O
Charts, 8, 71
Order Display Mode, 39, 40
Configuration, 11, 49, 50, 55, 59, 62
Order Entry, 25, 26, 28, 29, 38, 41, 45, 64
D
P
DAY orders, 42
Password, 9, 10, 13, 56
Default Quantity, 40, 44
Preference window, 33, 34
Display Size Defaults/ECN, 43
Prints, 60, 64, 65
Dynamic smart orders, 47
E
R
Router Settings, 55
Edit Chart Dialog, 73
ESignal, 45, 56, 94
S
Setting the Colors, 53
G
Graybox Main Window, 10, 13, 52, 53, 54,
70
Graybox trading, 8
Setting the Font, 53
Setting the Sounds, 54
Setting Up Keyboard Shortcuts, 50
Setting Up Smart Order Routing, 45
H
Hidden, 40
Showing/Hiding the Time, 65
T
L
The Super ECN Key, 47, 48
Ticker, 11, 23, 84, 85
Links, 55
M
main window, 9, 10, 21, 37, 38, 42, 45, 50,
52, 53, 56
Manual Order Entry, 11, 38, 41
Trading, 11, 25, 28, 30, 33, 37, 38, 39, 41,
48, 50, 56, 94
Trailing Stop Order, 51
U
user entitlements, 14