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Page Revision: 2015/06/09 14:42

Coming Soon!¶

To enable the Strategy Sniper a firm admin can enable the role on the user setup page, or the user can got to t4login.com and enable the user themselves in the user setup page.Once enabled you can click on the new items dropdown to select the Sniper.



From the custom strategies window you can create a strategy from and existing template or you can create your own.

1. Description- You can label give your spread a unique name.
2. Quotation Method- You can select from Price, or Net change
3. Back out strategy- If checked it determines whether a balancing back out strategy is executed if a leg is rejected. The Back out slop is entered on the legs tab.
4. Back out Only when opening position – Determines whether a balancing back out strategy is executed if a leg is rejected. Only execute the back out strategy when opening a position. (ie your current strategy position is flat)
5. Back out Pulls- If checked it determines if a strategy pulls are allowed while a balancing back out is strategy is executed per a previous leg rejection.
6. Back out Order at TOB price – determines if the strategy back out is entered as hitting the bid or lifting the offer instead of the filled price.

1. Match Expires- can be set to adjacent or nearest adjacent expires.
2. Add leg to Strategy- Click add new leg tab to add the first leg.

1. Click add new leg to add the next leg.

1. Fixed Market (optional)- Optional fixed market for this leg. This is useful when creating specialized spreads 2. Leg Side- is this leg bought or sold relative to the spread.
2. Trade ratio- How many units this leg should be bought or sold for a single spread trade.
3. Leg Multiplier- Multiplier to apply to this leg’s price when computing the spread.
4. Leg Slop- Leg Slop submits the leg order at a degraded price in order to improve the chance of filling the leg. The spreader watches the markets and when conditions are met to submit the leg orders, the leg orders with slop defined will be submitted at adjusted prices. In other words if you want to sell a spread at the price of 10 but are willing to trade at 9 you would give a 1 tick leg slop.
5. Leg Payup- Leg payup kicks in if a leg becomes leaning (did not fill, but the other leg did). This is different than slop because now that the leg is leaning, the order will be submitted to fill it as soon as the market hits the adjusted price. If one leg is filled and the other misses it’s price the leg payup allows the sniper to adjust the price to toward the market to give the 2nd leg a better chance of getting filled.
6. Snipe Volume Multiplier- Snipe volume multiplier prevents orders from being submitted on any legs until the volume in this leg is met. For example: Spread: Buy 9 notes, Sell 5 bonds, volume multiplier = 2 on the bond leg. No leg orders will be submitted until there is at least 10 lots (2 x 5) available to sell on the bond leg
7. Backout leg Slop- Number of ticks to trade through to improve chances of getting a fill on a backout leg order.

1. Once the spread has been created you can select it and click trade to pull up the ladder.

1. From the new window dropdown you can select the leg contracts of the spread which will bring up a ladder for each market.
   
   
   
   
2. You can also select chart and it will bring up a chart of the spread you created.

1. Spread editor- clicking this icon allows you to quickly pull up your strategy editor. You can quickly change the leg slop, pay up, snipe volume multiplier and click to the spread tab and uncheck or check the back out strategy and back out pulls

Trade how you want, where you want

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