After Release-004 version launched, Xele-Trade Futures Counter(4th Gen) keeps moving ahead, picking up the pace, sharpening focus on innovations and changes from exchange business.
Good news！XTF R007 has been recently running smoothly in several futures companies.
Let’s talk about some new functions in XTF R007, such as SPMM of Shanghai Futures Exchange (SHFE) , RULE and GIS Orders of Dalian Commodity Exchange (DCE) , three quote modes of China Financial Futures Exchange (CFFEX) , and latest measures for administration of abnormal trading behaviors.
About Trading
DCE GIS Orders
Currently, DCE has already allowed appending GIS attribute on trading live hog futures, soybean meal futures, and RBD palm olein options.
Traders can specify the GIS order type while placing orders or quotes. At the end of the trading section, no-traded and part-traded orders(quotes) will be canceled automatically.
Auto-cancelation times include the end of the night session, the beginning of the morning break, and the end of the morning session.
Cancel Orders With Selected Channel
Order cancellation requests use original order offering seat in the former versions.
XTF R007 provides three channel selection modes for the cancellation, which are auto mode, fixed mode and fixed then auto mode.
Auto : means using available seat randomly selected among the original order offering seat and manager seats.
Fixed : means using fixed seat specified in the cancellation request by the trader.
Fixed Then Auto: means using fixed seat specified by the trader firstly, if the seat is not available , using the seat in auto mode.
About New Portfolio Margin Model
In the futures market, the margin requirement plays a crucial role in the guarantee of contract performance, maintaining market stability, and preventing risks.
Exchanges have implemented several margin reduction measures to achieve the balance between the occupied margin and the position risk, such as max margin side and combination strategies.
Currently, exchanges are progressively implementing new portfolio margin model algorithms. XTF R007 has already supported the SPBM, SPMM and RULE. The RCAMS will be released as soon as possible. We hope it can help traders improve capital utilization.
If the futures company use the new portfolio margin model on the primary counter, please make ensure our system initialization contains basic parameter csv files .
About Risk Management
Price Deviation
When the price deviation risk item is enabled, traders should keep the price greater then “reference price * deviation coefficient – deviation absolute value” and smaller than “reference price * deviation coefficient + deviation absolute value”, otherwise the order will be rejected.
In the previous formula, the reference price is the contract’s lastprice. The deviation coefficient and deviation absolute values can be set on the Monitor risk control configuration page, they will be effective immediately after submitting the settings.
Large Order Cancellations
In line with the abnormal trading behavior management measures of exchanges, the Monitor risk control configuration page provides large order cancellation risk item. When the risk item is enabled, traders should keep the cancellation lots are less then defined large order cancellation lots, otherwise this cancellation request will be counted in the large order cancellation times.
Message Amount Pre-Check
What is different from the contract’s message amount post-check, message amount pre-check simplifies the management of risk control thresholds. The risk switch and threshold of every trader come from the initialization files, which are initially consistent with CTP.
When the trader triggers risk item, futures company can adjust the massage amount threshold or temporarily disable the risk switch through the Monitor page to restore normal trading.
About Market Maker
Quote Modes For Multi-Layer Scenarios
In July, CFFEX introduced the quote modes function in real trading environment. We provide three modes for quoting, which are quote with topping the latest, quote with topping specific offer, and quote with no topping.
Market makers can specify the quote mode in the quote structure as needed, using different modes to construct a multi-layer order book.
Batch Cancellation Made Easy Prevention
When market makers have problems in canceling large amounts of orders(quotes) resulted from market price fluctuations or strategy paused. XTF R007 allows users to send one single cancellation request that can specify up to 300 order numbers at once. Additionally, our system enhances seat selection algorithms and automatic re-cancellation mechanisms to ensure cancellations are processed as quickly as possible.
More Features Await Your Experience!
AcceleCom invites you to explore more features and enhancements in the latest Xele-Trade futures trading system.
