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NEW FX ORDER

The New FX Order page is used to book new orders in Kooltra. To book an order, click on FX Orders > New FX Order in the navigation pane.

In order to successfully book an order you must have at least two currencies offered in entity settings and an at least one active counterparty (account) configured. Note that all orders booked in Kooltra are booked from YOUR (the house) perspective. 

Order Types

There are five types of orders that can be booked in Kooltra:

  • LIMIT
  • STOP
  • OCO
  • IF-DONE
  • CALL

If you do not see an order type available, please contact Kooltra Support to see if the order type is supported.

Limit Orders

A limit order is placed when customers wish to prevent the order from being executed until the market price reaches the specified price. From a customer standpoint, if the order is a buy limit order, then the order will be executed if the price is below the current market price and if the order has not expired. If the order is a sell limit order, then the order will be executed if the price is above the current market price and if the order has not expired. 

In order to book a limit order in Kooltra you will need to input the details of the order. The details that you can fill out are:

Client (required) - Specify a Counterparty/Account name.

Book (optional) - You can specify the book you would like this transaction to be under If your business segregate transactions into different trading books.

Order Type (required): Specify one of the available order types in the dropdown. 

Action (required) - Specify an action (Buy/Sell). It is set up from YOUR perspective. For example if the Action is set to Buy then your business (the house) would be buying the currency specified in the CCY field.

Amount (required) - Enter the amount the house is buying or selling (CCY currency). Note Kooltra supports the use of shortcuts when entering amounts such as the use of 'k' for thousands and for 'm' (millions). Ex. If you would like to book an order for 100,000.00 you can enter 100k. Kooltra will automatically format this to 100,000.00.

CCY (required) - Enter the currency which is being bought or sold by the house. The currencies available will be the same currencies that were configured in entity settings.

CCY Pair (required) - Select the currency pair that this order is being booked in. Note that once an order is selected, the rate is shown to the right of the currency pair input box.

Client Rate (required) - Specify the limit order rate that the client would like to execute the order at. 

Hedge Rate Terms (required) - Select the hedging currency pair. By default, the hedge rate terms will match the CCY Pair.

Hedge Rate (required) - Specify the limit order hedge rate.

Profit -  The profit on the order will automatically be calculated using the differences in the client rate and hedge rate.

Other Details

Hedge Provider (required) - Select the hedge provider of the order here. Note that all orders in Kooltra must be hedged. 

Forward (required) - Specify the forward date of the trade.

Good Till (required) - Enter the date/time until which the order is valid. Once this date/time has passed, the order is expired. 

Source (optional) - Enter the source that the order originated from.

Hedge Order ID (optional) - Enter the ID of the hedge order. 

Stop Orders

A stop order is the opposite of a limit order and is placed when customers wish to prevent losses on an existing trade. If the order is a buy stop order, then the order will be executed if the price is above the current market price and if the order has not expired. If the order is a sell stop order, then the order will be executed if the price is below the current market price and if the order has not expired. 

In order to book a stop order in Kooltra you will need to input the details of the order. The details that you can fill out are:

Client (required) - Specify a Counterparty/Account name.

Book (optional) - You can specify the book you would like this transaction to be under If your business segregate transactions into different trading books.

Order Type (required): Specify one of the available order types in the dropdown. 

Action (required) - Specify an action (Buy/Sell). It is set up from YOUR perspective. For example if the Action is set to Buy then your business (the house) would be buying the currency specified in the CCY field.

Amount (required) - Enter the amount the house is buying or selling (CCY currency). Note Kooltra supports the use of shortcuts when entering amounts such as the use of 'k' for thousands and for 'm' (millions). Ex. If you would like to book an order for 100,000.00 you can enter 100k. Kooltra will automatically format this to 100,000.00.

CCY (required) - Enter the currency which is being bought or sold by the house. The currencies available will be the same currencies that were configured in entity settings.

CCY Pair (required) - Select the currency pair that this order is being booked in. Note that once an order is selected, the rate is shown to the right of the currency pair input box.

Client Rate (required) - Specify the limit order rate that the client would like to execute the order at. 

Hedge Rate Terms (required) - Select the hedging currency pair. By default, the hedge rate terms will match the CCY Pair.

Hedge Rate (required) - Specify the limit order hedge rate.

Profit -  The profit on the order will automatically be calculated using the differences in the client rate and hedge rate.

Other Details

Hedge Provider (required) - Select the hedge provider of the order here. Note that all orders in Kooltra must be hedged. 

Forward (required) - Specify the forward date of the trade.

Good Till (required) - Enter the date/time until which the order is valid. Once this date/time has passed, the order is expired. 

Source (optional) - Enter the source that the order originated from.

Hedge Order ID (optional) - Enter the ID of the hedge order. 

Call Orders

A call order is an order that requires the trader to call the counterpart to notify them that the market has hit a specific price. Unlike both stop and limit orders, this type of order does not require an amount.

In order to book a call order in Kooltra you will need to input the details of the order. The details that you can fill out are:

Client (required) - Specify a Counterparty/Account name.

Book (optional) - You can specify the book you would like this transaction to be under If your business segregate transactions into different trading books.

Order Type (required): Specify one of the available order types in the dropdown. 

CCY (required) - Enter the currency which is being bought or sold by the house. The currencies available will be the same currencies that were configured in entity settings.

CCY Pair (required) - Select the currency pair that this order is being booked in. Note that once an order is selected, the rate is shown to the right of the currency pair input box.

Client Rate (required) - Specify the limit order rate that the client would like to execute the order at. 

Hedge Rate (required) - Specify the limit order hedge rate.

Other Details

Hedge Provider (required) - Select the hedge provider of the order here. Note that all orders in Kooltra must be hedged. 

Forward (required) - Specify the forward date of the trade.

Good Till (required) - Enter the date/time until which the order is valid. Once this date/time has passed, the order is expired. 

Source (optional) - Enter the source that the order originated from.

Hedge Order ID (optional) - Enter the ID of the hedge order. 

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OCO (One-Cancels-the-Other) Orders

An OCO (One-Cancels-the-Other) order allows a customer to book two orders simultaneously. When one of the orders is executed, the other order is cancelled. A typical OCO order will combine both a limit order and stop order, however Kooltra allows an OCO order to be any combination of limit, stop, and call orders.

An OCO order will have two legs, the Active Leg and the Second Leg. Both legs can be specified to be Limit, Stop or Call in the Order Type field. The information required to be filled out in each leg is described in the Limit Orders, Stop Orders and Call Orders section above. 

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IF-DONE Orders

An IF-DONE order is similar to OCO orders in that it has two legs or two orders combined. However unlike OCO orders, IF-DONE orders will execute the second (inactive) leg of the trade if the first leg of the trade is executed. This means that either none of both of the orders in an IF-DONE order are executed. 

An IF-DONE order has two legs, the Active Leg and the Inactive Leg. Both legs can be specified to be Limit, Stop or Call in the Order Type field. The information required to be filled out in each leg is described in the Limit Orders, Stop Orders and Call Orders section above. 

Notes Tab

In addition to Comments and Client Comments, users can input additional notes about the trade in the Notes tab. 

History Tab

The history tab tracks changes made to the trade. This includes tracking what user made the change and at what time. 

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