training manual - oms

Global Link for Electronic Trading

GL STREAMTM

GL OMSTRAINING MANUAL

GL TRADE brought its utmost attention and care to the conception and writing of this manual: the infor-mation it contains is deemed complete and accurate. However, GL TRADE and the authors of this manualshall in no way be liable for any direct or indirect consequence of the use of any information contained inthese pages. GL TRADE remains the sole owner of the intellectual property rights over this manual andthe information it contains. As a consequence, it is strictly prohibited to reproduce the manual (for free orfor a valuable consideration), modify the manual (by any means and/or by any manner and/or for any pur-pose whatsoever), translate the manual, lend or transfer the manual by any means without written autho-rization from GL TRADE.

The writers of this manual thank all those who participatedto its conception, writing and/or proofreading.

To contact the authors of this guide:

[email protected]

© Copyright GL TRADE 2004

FVI.1

GL OMS - TRAINING MANUAL

I

Introduction________________________________________________ 1What is GL OMS? ........................................................................................................1Start the OMS ..............................................................................................................2

The Sales window___________________________________________ 3Organizing data............................................................................................................3

Menus and buttons ............................................................................................................................ 4Navigator............................................................................................................................................ 5Main display area............................................................................................................................... 6

Creating orders ............................................................................................................8Composing a single order .................................................................................................................. 8Checking the status of an order ....................................................................................................... 10Composing a multiple order (basket) ............................................................................................... 11Creating a basket template .............................................................................................................. 12Modifying an outstanding order........................................................................................................ 13

Completing a released order......................................................................................14Create a personal list of clients ..................................................................................15

The Trader window _________________________________________ 17Organizing data..........................................................................................................17

Menus and buttons .......................................................................................................................... 18Navigator.......................................................................................................................................... 19Main display area............................................................................................................................. 20

Dealing orders............................................................................................................22Acknowledging an order .................................................................................................................. 22Executing an order........................................................................................................................... 23Create multiple orders (baskets)...................................................................................................... 25Checking the status of an order ....................................................................................................... 26Allocating an outstanding execution ................................................................................................ 27

Releasing an order.....................................................................................................29Create a personal list of clients ..................................................................................30


II


What is GL OMS?

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INTRODUCTION

What is GL OMS?

GL OMS (Order Management System) is GL STREAM’s global order managementsolution designed to facilitate communication between the sales team and thetraders, and to automate the administrative processing of orders, thus reducingcosts and creating new opportunities.

GL OMS comes in two formats, according to the needs of the client:

GL PRIMARY OMS (basic, mono-site order management)

GL ADVANCED OMS (comprehensive, multi-site order management)

According to the chosen architecture, GL OMS allows:

Order flow management (creation of orders, execution, allocation, monitoring)

Order routing (routing rules to choose a preferred trader or group of traders)

Trading automation (spotting cross orders, netting and splitting client orders, etc.)

Trades monitoring (client and proprietary, positions calculation, P&L)

Crossing (display of internal crossing opportunities)

Sales and Traders have dedicated screens with different tools:

The Sales screen: to create orders, track their execution and allocate these exe-cutions (that is, fill in the clearing information). The Sales is now aware of theprogress on his client’s requests in real time.

The Trader screen: to display instructions from the Sales, execute the orders(using the usual GL WIN tools) and release them to the Sales once completed.The trader is aware of the Sales’ specific requests and deals orders accordingly.

Important: This booklet is however limited to the basic operation of GL PRIMARYOMS: creating orders and tracking and allocating executions. For further infor-mation, please consult the complete user documentation available onwww.gltrade.net.


Start the OMS

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Start the OMS

1. When starting GL WIN, make sure you enter the login and password corre-sponding to the OMS. In the example below, login as Head Sales FVIL:

2. Select Trading Tools > Order Management System in the GL Deskbar:

3. You might need to click OK in the OMS Users pop-up window to start the software:

4. The OMS is starting up as illustrated below:

5. According to the user, two different windows can appear, which are discussed intwo different sections of this manual:

The SALES window (or the HEAD SALES window)

The DEALER window (or the HEAD DEALER window)


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THE SALES WINDOW

Organizing data

The Sales window is composed of three main areas:

Menus and buttons bar (to access order creation functions)

Navigator (to organize orders according to status, traders, clients or stocks)

Main display area (to display the details of each order)

Figure: Overview of the Sales window

Menus and buttons, see page 4 GL Deskbar

Main display area, see page 6Navigator, see page 5


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Menus and buttonsThe menus and buttons are located in the upper part of the Sales screen. They pro-vide access to main order creation functions.

The menus include:

The OMS menu

Change password (to modify the password used to start the OMS)

Preferences (to specify a number of default values: color of the Buy box,favorite dealing instructions, default order type, warnings, etc.)

Day begin (to refresh trading data for a new day, without having to restart thesystem). Data such as the orders and executions cache will be flushed.Warning! There is no confirmation request.

Exit (to exit the OMS). Warning! There is no confirmation request.

The Edit menu

Compose order (Buy, Sell, Multiple): please refer to page 8.

Compose IOI (Indication Of Interest): available only in GL Advanced OMS.

The Search menu

Client (to look for client references)

Security (to look for listed securities)

The Help menu (to display generic information on your OMS: version, etc.).

The buttons provide a quicker access to some of the functions described above:

Compose Buy order

Compose Sell order

Create Multiple Orders (basket)

Search for a Client

Search for a Security

Print

The menus bar

The buttons bar


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NavigatorThe Navigator helps the user sort orders displayed in the main display area (see thenext section) according to a number of sorting criteria (by order, by client, by secu-rity). According to the user’s rights (Head Sales), it is also possible to display orderssent by other members of the Sales team. Each order sent to the traders by a spe-cific member of the Sales team can be displayed (in the main display area) accordingto:

Status (outstanding, completed, cancelled, expired, etc.)

Client (that is, all orders sent in the name of a specific client, whatever the status)

Security (that is, all orders on a specific instrument, whatever the client / status)

The navigator also provides access to:

Baskets (to create templates and to save them)

IOI (to send an Indication Of Interest): available only in GL Advanced OMS

Note: From the navigator, it is also possible to create new clients (for display pur-poses only), new basket templates, new indications of interest. Right-click on theappropriate icon to create new items.

Orders sent by Head Sales FVILLAIN are organized according to their status

Basket templates (click Template to create a new one)

Orders organized according to the client account used for the transaction

Orders organized according to the instrument, whatever the sales, the client or the status

Click on the name of a Sales to display his orders according to their status

Right-click IOI to create an Indication Of Interest (when the service has been subscribed to)


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Main display areaIn the main display area, orders created by the Sales are displayed according to theselected sorting criteria (all orders, client B orders only, outstanding orders of SalesFVI, etc.). Within this window, the data is organized according to columns.

Add columns

There are over 100 columns to choose from, depending on the user’s needs. To addcolumns to the display area:

1. Right-click on a column heading (Side, in the example below)

2. Select Insert and check the boxes next to the required columns

3. Click Insert to insert the new columns on the left of the Side column:

Hide columns

To hide columns (that is, to remove them from the main display area), right-click theuseless column’s heading and select Hide. The column disappears. To call it back,use the Insert function described above.


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Move columns

It is possible to rearrange the columns in the main display area in order to fit yourneeds or your preferences. Simply left-click the column heading, drag it to thedesired location and drop it.

Sort orders

To sort orders, left-click on any column heading. Orders are sorted automatically.(for example, from A to Z). Left-click again, orders are sorted the other way (Z to A).

Group your orders

It is also possible to group orders according to user-selected criteria. For example, togroup orders according to their side and then by status (within the same side), dragand drop the Side heading to the upper area of the screen. Then do the same with theStatus heading: automatically, orders will be grouped first by their side and then bytheir status, as illustrated below.

Here, orders are simply sorted by whichever column heading you clicked on (here, alphabetical order by Security)

Drag the Side heading to theupper part of the screen to group

order by side (Buy and Sell).Here, B stands for BUY.

Note that the Side columnis no longer present

Drag the Status heading to further group the orders. Now, Buy orders are organized in Dealing and Assigning.


Creating orders

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Creating orders

Composing a single orderTo compose a single order, it is possible to use one of the two following means:

Select the menu Edit > Compose Order > Buy or Edit > Compose Order > Sell

Click the Buy button or the Sell button

The Order - Compose window then pops up as illustrated below:

Fill in the required information:

Security (enter the code or use the OMS dictionary: click the Security Search )

Quantity (the estimated price for the entire order is then computed automatically)

Order Type:

CD (Careful Discretion: the trader is asked to obtain the best possible price)

MKT (Market Price: order should be executed at the price of the last trade)

SL (Straight Limit: order is to be executed at the specified limit only)

LOB (Limit Or Better: order is to be executed at specified limit or better)

RMK (Remark: the trader must refer to price instructions in the lower part)

MOC (Market On Close: order to be executed at market price, during closing)

LOC (Limit On Close: order to be executed at specified limit, during closing)

STOP (Stop Order, to be executed within the specified limits)

Click this button to display theinstruments dictionary (toselect the desired security)

Click this button to display the list ofclients (corporate or personal)


Creating orders

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For orders where a limit must be specified (SL, LOB, LOC, STOP), first click onthe Order Type and then specify the limit(s) in the area which appears simulta-neously on the right hand side of the screen, as illustrated below:

RMK orders must include a free textwhich describes what the sales actuallywants (price, time of execution, specialrequirements, etc.).

Click on RMK and then click on Instruc-tions to display a text-entry area wherethe Sales can enter specific trading andsettlement instructions, as shownbelow.

Note: it is possible to add sales, dealingand settlement instructions for any typeof order.

Time In Force (validity)

GTC (Good Till Cancel: order stands for execution until user cancels it)

GDO (Good Day Only: order stands for execution only for the day of creation)

GTD (Good Till Date: order stands for execution until the specified date)

Note: when selecting GTD, an entry area appears, as for the price limit above.

Client (enter the client code or use the Search Client tool: click )

Order By (select the Sales at the origin of this order, yourself or someone else)

Warning! GL Primary OMS does not allow multi-site routing. For multi-site ordermanagement, please look for GL ADVANCED OMS (www.gltrade.net).

Route To (select the trader who is to execute this order).

Note: Check the Remain Open box to keep the order composition window open forfaster order creation. If not checked, the window closes after order is submitted.

Once the required fields have been completed, click:

Submit to send the order to the dealer for execution (confirm in pop-up box)

Hold to save the order, without sending it (it can then be sent anytime)

Cancel to exit the order composition window without creating / sending the order

Note: When clicking Submit or Hold, a pop-up requires confirmation. Click Proceed ifthe order is correct or click Cancel to modify the order in the composition window.

Select a «limited» order type A box now appears, wherethe limit can be specified


Creating orders

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Checking the status of an orderOnce an order has been sent to the dealer, it is possible to check its status in realtime. The Sales are therefore able to inform their clients in real time also. The statusof each order is displayed in the Status column, in the main display area.

Select All in the Navigator to display all orders and their current status:

Possible statuses are:

All (all orders created by the sales, whatever their status)

Outstanding (orders that have not yet been completed). That includes:

Holding (orders created by the sales but not yet sent to the trader)

Assigning (orders sent to the trader but not yet acknowledged)

Dealing (orders acknowledged by the trader but not yet completed)

Completed (orders entirely filled by the trader and ready for allocation by the sales)

Cancelled (orders cancelled by the sales)

Next Day (orders ’’rolled over’’ from previous days or to be traded the next day)

Archive (orders archived over a defined period of time)

Expired (orders whose time in force is no longer valid)

A number of user-defined colors can be allocated to each status in order to easilydistinguish the various statuses of outstanding orders (as illustrated above). Duringthe trading phase, the status updates automatically in the Sales window, while thetrader acknowledges, deals and releases the order.

Referral: For further information on the trading phase, please see page 17 onwards.

Orders are arranged according to their status.

Click on a sub-folder to display orders corresponding to this status (cancelled, etc.)


Creating orders

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Composing a multiple order (basket)The creation of a multiple orders (or basket) enables the Sales to save time: he cancreate a number of orders before the Exchange opens, according to his clients’wishes or to the broker’s policy for the day. To create a basket:

1. Either click the Compose Multi Orders button in the buttons baror right-click on Basket in the navigator and select New Basket:

2. The Basket window pops-up as illustrated below:

3. Give the basket an ID (for example, 245)

4. Specify the route of the order (origin in Order by, desired trader in Route to)

5. Specify the Exchange when necessary (here, SEPA: Euronext Paris)

6. Specify the Time in Force (validity): GTC, GDO, or GTD (see page 9)

7. Specify the Client (using the Client Search tool when necessary)

8. Enter each order’s full data in the table (Side, Symbol, etc.)

To help the user compose each order, drop-down lists are available in a numberof fields (Side, Order Type). It is also possible to use the Search feature in theSymbol, Security and Account columns (right-click in the cell):

9. Once the basket is ready (it is possible to add 99 orders to the same basket), clickSubmit to send it to the trader, Hold to save it or Cancel to exit without saving.

The basket has been sent to the trader and now appears in the Basket Monitor, with its ID and current Status (assigning)


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Creating a basket templateTo save time when creating baskets, it is possible to create basket templates. Suchtemplates will contain information on orders (Symbol, Side, Quantity, Order Type,etc.) but no specific account data (Route, Client Account, etc.), which will be addedwhen actually using the basket. To create a template:

1. In the Basket navigator, right-click Template and select New Template:

2. The Basket Template window pops-up:

3. Specify a Template ID (like FAV01) and the Exchange (here, SEPA: Paris)

4. Create up to 99 orders in the same template:

Side (Buy / Sell / Short Sell) and Quantity

Symbol (the Security’s name is then displayed automatically)

Order Type (CD, MKT, SL, LOB) and price (if using a SL or LOB order)

5. Click Save: the template is now available in the navigator (right-click > New Basket)

Note: Create as many templates as you wish (up to 99 orders in each basket).

Select New Basket: the Basket window pops-up as in page 11.It already contains a number of orders.Complete the missing information (Account, route, etc.) and click Submit to send the order.


Creating orders

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Modifying an outstanding orderAfter an order has been sent to the trader, it is sometimes necessary to modify it. InGL Primary OMS, it is possible to modify the validity and the client account (using theAmend menu) or the quantity and the price (using the Req to amend Qty/Price menu). Ofcourse, such modifications must take place before the order is completed.

Modify the validity or the client account

The sales can modify himself the validity or the client account of outstanding orders,because this data has little or no impact on the trading activity itself:

1. Right-click the order and select Amend (the Order - Amend window pops-up)

2. In the example below, the user changes the TIF (GTD to GTC) and the Client:

3. Click OK to modify the order (it is updated in real-time in the trader window)

Modify the quantity or the price

To modify the price and/or quantity, the Sales must request the Trader to do so,because such changes have a major impact on the trading phase. When asking fora modification, a flag appears in the price or quantity column. When the modifi-cation is accepted by the trader, it becomes . If rejected, it becomes .

1. Right-click the order to be modified and select Req To Amend Qty/Price:

2. Make necessary modifications to the Quantity and/or Price (Order Type).

3. Click OK to confirm: the trader is asked to accept or reject the modification.


Completing a released order

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Completing a released order

We have seen that the order goes through a number of steps, each corresponding toa particular status (Holding, Assigning, Dealing). When the trader has executed theorder, he modifies the status to Reporting (see page 29): the Sales now has to «com-plete» the order, following the procedure below:

1. In the main display area, right-click on an order in Reporting status

2. Select Sales Complete to display the Sales Complete window illustrated in step 3:

3. In the Sales Complete window, add the required allocation information:

Client (18) and sub-accounts (here, 150 stocks are split in 100, 25 and 25)

Price and quantity of execution (i.e., those which will be charged to the client)

Type of settlement (regular, next day, T+4, etc.).

4. Click Complete to release the order to the middle office. The Sales’ job is finished.

Important: It is not possible to release orders that are not at least partly executed.


Create a personal list of clients

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The corporate list of clients (i.e. the list of all the clients of your organization) may beto large to prove useful (it could include thousand of client accounts). GL PrimaryOMS therefore allows the creation of a personal list of clients, containing only theaccounts the sales actually works for.

To create a personal list:

1. In the OMS toolbar, select the menu Search > Client or click the button

2. In the Client Search window, click Edit Personal List to display the input zone.

3. Search through corporate clients (use the Search button to display the list)

4. Select a client account and click the arrow to add it to the personal list

5. Repeat step 4 as many times as required.

Important: When done adding accounts to the list, exit the window: no confirmationis required. Next time you call the Client Search window, the Personal button will giveyou access to your personal list.

Accounts can be removed from the personal list, using the arrow .

2 - Click the Corporate button and then Search the list1 - First, click this button to edit your list

3 - Select an account and click the arrow to add it to your list



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THE TRADER WINDOW

Organizing data

The Trader window is composed of five main areas:

Menus and buttons bar (to access trading functions)

Navigator (to organize orders according to status, traders, clients or stocks)

New orders (to display incoming orders from the Sales team)

Outstanding executions (to display executions not yet allocated)

Main display area or Dealer Workspace (to display the details of each order)

Figure: Overview of the Trader window

OMS menus and buttons, page 4 GL Deskbar

Outstanding orders, page 6Navigator, page 5

New orders, page 6

Outstanding executions, page 6


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Menus and buttonsThe menus and buttons are located in the upper part of the Trader screen. They pro-vide access to main trading functions.

The menus include:

The OMS menu

Change password (to modify the password used to start the OMS)

Preferences (to specify a number of default values: color of the Buy box,default Exchange, warnings, etc.). It includes a trader-specific tab (alertsupon arrival of new orders, etc.).

Day begin (to refresh trading data for a new day, without having to restart thesystem). Data such as the orders and executions cache will be flushed.Warning! There is no confirmation request.

Exit (to exit the OMS). Warning! There is no confirmation request.

The Edit menu

Compose order (Buy, Sell, Multiple): please refer to page 8.

Compose IOI (Indication Of Interest): available only in GL Advanced OMS.

The Search menu

Client (to look for client references)

Security (to look for listed securities)

The Help menu (to display generic information on your OMS: version, etc.).

The buttons provide a quicker access to some of the functions described above:

Compose Buy order

Compose Sell order

Create Multiple Orders (basket)

Search for a Client

Search for a Security

Compose Execution

Create a Crossing Report

Print

The menus bar

The buttons bar


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NavigatorThe Navigator helps the user sort orders displayed in the main display area (see thenext section) according to a number of sorting criteria (by order, by client, by secu-rity). According to the user’s rights (Head Trader), it is also possible to display ordersof other members of the Trading team. Each order received from the Sales can bedisplayed (in the main display area) according to:

Status (outstanding, completed, next day, in doubt, etc.)

Client (that is, all orders for the same client, whatever the status)

Security (that is, all orders on a specific instrument, whatever the client / status)

The navigator also provides access to:

Baskets (to create templates and to save them)

IOI (to send an Indication Of Interest): available only in GL Advanced OMS

Note: From the navigator, it is also possible to create new clients (for display pur-poses only) and new basket templates. Right-click on the appropriate icon to createnew items.

Orders sent by Head Sales FVILLAIN are organized according to their status

Baskets (and the template-creation button)

Orders organized according to the client account used for the transaction

Orders organized according to the instrument, whatever the sales, the client or the status

Executions organized according to their status

Orders organized by exchange

Orders organized by site (Multi-site orders are possible only in GL Advanced OMS)


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Main display areaThe main display zone of the Dealer Workspace is divided into the three zones: NewOrders, Outstanding Orders and Outstanding Executions. Within these zones, orders canbe organized by user-selected sorting criteria, using columns.

Sort orders

To sort orders, left-click on any column heading. Orders are sorted automatically.(for example, from A to Z). Left-click again, orders are sorted the other way (Z to A).

Add columns

There are over 80 columns to choose from, depending on the user’s needs. To addcolumns to the display area:

1. Right-click on a column heading (Side, in the example below)

2. Select Insert and check the boxes next to the required columns

3. Click Insert to insert the new columns on the left of the Side column:

Referral: For a complete description of each column, please refer to the User Guide.


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Hide columns

To hide columns (that is, to remove them from the display area), right-click the use-less column’s heading and select Hide. The column disappears. To call it back, usethe Insert function described above.

Move columns

It is possible to rearrange the columns in the main display area in order to fit yourneeds or your preferences. Simply left-click the column heading, drag it to thedesired location and drop it.

Group your orders

In display areas, it is also possible to group orders according to user-selected cri-teria. For example, to group orders according to their side and then by status (withinthe same side), drag and drop the Side heading to the upper area of the screen. Thendo the same with the Status heading: automatically, orders will be grouped first bytheir side and then by their status, as illustrated below.

Here, orders are simply sorted by whichever column heading you clicked on (here, alphabetical order by Security)

Drag the Side heading to theupper part of the screen to group

order by side (Buy and Sell).Here, B stands for BUY.

Note that the Side columnis no longer present

Drag the Status heading to further group the orders. Now, Buy orders are organized in Dealing Sell and Dealing Buy.


Dealing orders

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Dealing orders

When the Sales sends an order, it is immediately displayed on the selected trader’sscreen, in the New Orders area. When receiving a new order from the Sales team, thetrader must:

1. Acknowledge the order (let the trader know the order is taken care of)

2. Deal the order on the market (execute it according to the Sales’ instructions)

3. Release the fulfilled order to the Sales (for allocation to a client account):

Acknowledging an orderIncoming orders from the Sales team are displayed in the New Orders area of theDealer Workspace. It is also possible to configure alerts to be warned when a neworder has arrived (using the OMS > Preference menu and selecting Alert / New Orders).

The trader must then acknowledge the order (i.e. let the sales know his order istaken care of).

1. Right-click the new order

2. Select:

Acknowledge (order is then «queueing» in the Outstanding Orders area)

Acknowledge and Execute (order is now in Outstanding Orders and GL WIN’sOrder Entry Box pops-up)

Note: The order’s status is then updated to Dealing in real time in the Sales window.

Important: Before acknowledging an order, the trader can display its detail byselecting View in the menu (a window pops-up providing info on the order’s origin).

The trader can also reject the order (by selecting Terminate > Yes). The rejected orderwill appear as Cancelled in both the Dealer and the Sales windows.


Dealing orders

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Executing an orderOnce the order has been acknowledged, the trader must execute it according to theSales’ instructions. Execution can be delayed (when the trader selects Acknowledge,the order moves to the Outstanding Orders window and awaits execution) or imme-diate (when he selected Acknowledge and Execute, the order moves to the OutstandingOrders window and the GL WIN Order Entry Box pops-up, partly filled with the orderinformation).

To execute an order

1. Right-click the order to be executed in the Outstanding Orders window.

2. Select Execute: the GL WIN Entry Box is displayed as illustrated below

3. The box is partly filled with information (security, default quantity and limit): com-plete and/or modify this data according to sales instructions or to the market’scurrent outlook (for example, slice a large single order into waves, modify theprice to beat the VWAP, etc.). The trader is free to organize his trading.

4. Once the order is ready, click Send to send it to the market.

5. The order remains in the Outstanding Orders window until complete execution.Executions are indicated in real time in the Executed column.

In the example below, an order for 10000 ALCATEL has been executed for 2500.The remaining quantity is indicated, along with the execution price (10.3):.


Dealing orders

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To display the details of partial executions

When a single client order is split into several market orders, the details of execu-tions can be displayed in the Outstanding Orders window. Click the cross on the left ofthe order to open a tree structure displaying order details, as illustrated below:

To modify an outstanding order

To modify an outstanding order (not fully executed), right-click the order and selectAmend Qty/Price: a Change Order window enables the user to modify the quantity and/or the price. When an order has already been sent to the market, a pop-up requestsif it is the client order or market order which should be modified, as shown below:


Dealing orders

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Create multiple orders (baskets)To create a basket with up to 49 orders, use the Compose Multiple Order window:

1. Click the Compose Multi Order button to display the basket creation window:

2. Give the basket an ID (such as FAV001)

3. Specify a validity (GTC, GDO, GTD) and a route (Order By / To)

4. Enter each order’s data (Odd lots, Side, Symbol, Quantity, Client ID, etc.)

5. Specify if these multiple orders should be considered as a basket or not:

Discrete Orders are single orders not connected to a basket. Use this featurewhen you want to send a large number of separate orders (when the marketopens, for example)

Basket orders are considered as being part of a whole. Use this feature whendealing with a unique client or to follow the exact composition of an index, etc.

6. Once the data has been entered:

Click Submit to send the orders to the market.

Click Hold to save the basket for later use

Click Cancel to exit without saving the basket


Dealing orders

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Checking the status of an orderWhile dealing, the trader can check the current status of each order in the differentdisplay windows (Dealer Workspace, Orders Monitor, etc.). The status is updated inreal time.

Selecting the appropriate criteria in the Navigator, it is possible to display:

All orders created by the sales, whatever their status.

Outstanding orders that have not yet been completed, including:

Assigning (orders not yet acknowledged).

Dealing (orders acknowledged but not completed yet).

Completed orders, entirely filled (status: Reporting) and ’’returned’’ to the Sales.

Cancelled orders (cancelled by the Sales or by the Trader).

Next Day orders,’’rolled over’’ from previous days or to be traded the next day.

Archived orders, saved over a user-defined period of time.

Expired orders, whose Time in Force is no longer valid).

In Doubt orders, not acknowledged or completed at the end of a previous session,and not «rolled over» (i.e., orders not placed in Next Day). When launching GLPrimary OMS, a message warns if some orders are In Doubt.


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Allocating an outstanding executionThe trading method described in the previous pages consists in executing ordersaccording to instructions sent by the Sales. In that case, the trader will acknowledgeand execute an order only according to a specific demand.

Another method is also available in GL Primary OMS: allocating a previous execu-tion to a new client order. For example, the trader has bought 1500 AXA shares inthe name of the broker. Shortly after, the trader receives a New Order from the salesfor 500 AXA shares in the name of a client. Using GL Primary OMS, the trader willuse the previous 1500 market executions to fulfill the client order for 500 shares. Out-standing Executions will therefore allow the trader to fulfill Outstanding Orders...

To allocate an outstanding execution:

1. At the beginning of the day, you sent a number of house orders to the market,including an order for 1500 AXA shares (code CS). The order has been executed,as shown in the Order Book and in the Trading Watch:

2. This market order becomes an Outstanding Execution (execution not allocated):

3. Later, the Sales sends a New Order for Client 14, asking for 500 AXA shares:


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4. Acknowledge this new client order: it is now in the Outstanding Orders window:

We now have an outstanding client order for 500 AXA stocks and an outstandingmarket execution for 1500 AXA stocks. The trader can now use these executionsto fulfill the client order...

5. In the Outstanding Executions window:

Click in the Allocate cell and enter the required quantity (here, 500).

Specify the price of execution when necessary (here, 16.44)

Specify the Order Reference (found on the left of the order, here: 1)

6. Press <Enter> to allocate the execution to the client order:

The Outstanding Execution is decreased by 500.

The Outstanding Order is now fulfilled (no remaining qty + full execution flag )

7. The trader can then release the order to the Sales (see page 29).

Important: Outstanding executions remain on the screen until they have beenentirely allocated to outstanding client orders.


Releasing an order

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Releasing an order

Once the order has been fully executed (the remaining quantity is equal to 0), thedealer must «release» the order to the Sales who originated it. This allows the com-pletion of the allocation process by the Sales.

To release an order:

1. Select a fully executed order (with no remaining qty and an execution flag )

2. Right-click the selected order and chose Dealer Release > Yes:

3. The order moves to the Completed Orders window with a status Reporting: the jobof the trader is now over...

Important: Once the trader has released the order (i.e. the order is in the CompletedOrders window with a Reporting status, the Sales must ’’complete’’ it. See page 14.



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The corporate list of clients (i.e. the list of all the clients of your organization) may betoo large to prove useful (it could include thousands of client accounts). GL PrimaryOMS therefore allows the creation of a personal list of clients, containing only theaccounts the sales actually works for.

To create a personal list:

1. In the OMS toolbar, select the menu Search > Client or click the button

2. In the Client Search window, click Edit Personal List to display the input zone.

3. Search through corporate clients (use the Search button to display the list)

4. Select a client account and click the arrow to add it to the personal list

5. Repeat step 4 as many times as required.

Important: When done adding accounts to the list, exit the window: no confirmationis required. Next time you call the Client Search window, the Personal button will giveyou access to your personal list.

Accounts can be removed from the personal list, using the arrow .

2 - Click the Corporate button and then Search the list1 - First, click this button to edit your list

3 - Select an account and click the arrow to add it to your list

training manual - oms

Documents

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manual andthe information

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outstanding order

released order

multiple order basket

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