Once you have uploaded a basket of orders, you can modify them before you transmit by adding or removing instruments, changing the multiplier, reversing the order sides, and/or electing to convert limit orders to market, relative, or RPI orders.
By default, the quantity is 100%. To modify the basket quantity:
- In the Execute Basket section, click on the Quantity drop-down menu
- You can change the percentage by entering a value next to the percentage "%" sign. This will be applied to each order in the basket. For example, if you change the quantity to 50%, the total quantity for each instrument is reduced by half.
- Alternatively, you can set a dollar amount by switching the Quantity unit to "USD" and entering a value.
When you select a Quantity value in "USD", by default the system will divide the number of instruments in the basket by the dollar value and allocate the same amount to each. A basket of 20 instruments with a quantity of 15,000 USD would allot 750 USD to determine the number of shares to transact, regardless of the current price of the instrument. To modify this default:
- In the Execute Basket area, check the box next to Use per-contract quantity percentage
- In the Orders area, specify the percent to allot to each individual instrument in the User Defined Percentage "%" column. The total must equal 100%. If you do not see the "%" field, add it by holding your mouse over an existing field and selecting "Insert Column." From the Basket category select "%".
Please Note
- The system cannot guarantee the basket quantity when it is other than 100% due to exchange required order size rounding. This means that the value of the basket could be significantly higher than expected.
To Transmit the order:
- In the Execute Basket section, click the Transmit button.
When you transmit a basket order, each order in the basket is cleared individually. If your account does not meet margin requirements, it is possible that only a portion of the basket order will fill.
Additional Information