Client Order Entry Window

New Features

New MiFID Order Entry fields

Client Identification, Investment decision within firm and Execution decision within firm have been added to the Client Order Entry Window, further information can be seen here.

Context Information

Relevant information about the client, portfolio, account and MiFID are show in grey areas next to the respective input field.

The portfolio context information will display the current shares on hand with a pop up display when you place your mouse over the icon besides the number. It will also display a warning message for the portfolio if present. A "Sell all" button is also shown which will fill the side to Sell and the quantity to the shares on hand.

The account context information will display the available funds for that account. If you place the mouse over the icon besides the amount display a pop up will appear which displays current balance, overdraft and available funds.

Portfolio input

You can now enter the external reference # of a portfolio and Kodiak OMS will select the customer for you.

Account

The account dropdown is now larger.

Order Reference

You can now insert and Order Reference number to connect Kodiak client orders to orders in other systems.

Trade and Settlement dates

The trade and settlement dates will be displayed along with the number of settlement dates for the chosen orderbook.

 Description

The Client Order Entry Window allows you to create a client order and send it to a broker (DMA/Manual) or a market (DMA).

How to access
You can open the Market Order Entry Window by clicking the  "New Client Order" button in the Client Orders Toolbar, or by right clicking an instrument in a market data window, and by clicking the  "New Client Order" button in the Main Window Toolbar.

Functionality
The Client Order entry window is used to create client orders.  To create a client order the user must fill out the Market Order details: select the side (B/S), quantity, type in the instrument he wants to trade, the price, order type, visible quantity, TIF, broker and handling instructions.  The user must also fill out the client details: Type in the Name (auto complete), select communication method, fill out the client comment, select the portfolio details, account details, fee type and the fee.  The user must also tell the system if the order is an advice order or not.  

If the order is an advice order then the user must take the MiFID test.

Once all the details have been filled the user can "Create" the order or "Create and Send" the order.

MiFID II

New MiFID II Order Entry fields have been added to the Kodiak OMS Client Order Entry Window, more information can be seen here.

Picture: Client Orders Entry Window - An equity order, advanced features visible.

Field descriptions

 

Field
Description
Notes
Order  
B/SBuy or Sell order 
QuantityThe Quantity being bought or sold 
SymbolThe symbol/company Auto complete text box.  Type in the first letters and the system will suggest from available instruments.
Price (ISK)Price - used to specify a limit price for the order. 
Order TypeOrder TypeLimit, Market, LOO (Limit-On-Open), LOC (Limit-On-Close), MOO (Market-On-Open) , MOC (Limit-On-Close), IOOC (Imbalance On-Close), IOOP (Imbalance On-Open Orders) 
Visible

Visible Quantity - Usually called iceberg order. 

The quantity that will be displayed on the market.

 
Display RangeThe dispaly range for a given orderThe display range is used for iceberg orders. The visible market quantity will be a random number not to exceed the display range.
HiddenMakes the order hidden.  This only works for orders with large quantity. 
TIFTime In ForceDay, FOK, IOC, GTC, GTT  
TimeThe good till timeOnly visible if TIF = GTT
Minimum quantityMinimum quantity for the order to be filled 
BrokerThe broker that the order will be sent toDefault for icelandic markets is INET
HandlingHow the broker will handle the order.  

DMA, Manual.

Nordic@MidSpecifies whether the order is a Nordic@Mid order.Nordic@Mid orders do not appear in Market Data. They only appear in your Market Orders view.
Advanced Field in the advanced area are default hidden. To display them, click the "Advanced" button in the button panel at the bottom.
CapacityOn whose behalf the order is submitted 
RoutingOrder routing strategy provided by the exchange 
Peg TypePeg Type 
Peg DiffPeg difference in number of tick steps 
STP LevelThe STP Level for this order.See Self Trade Protection (STP)
Trader GroupA 2 character value designating the trader groupSee Self Trade Protection (STP) 
STP ActionWhat action should be takenSee Self Trade Protection (STP) 
Clearing FirmFree text field used to specify the give-up firm.  
Clearing AccountFree text field used to specify an account to the clearing house 
Client  
NameName of clientWhen name is entered, OMS will automatically find the clients information and open his portfolio.
PortfolioClients portfolioKODIAK Oms will automatically open a clients portfolio when the client has been added.
Account

Choose clients account, if available.

 
Paid in cashCheck box if the order is paid in cash. 

External

Allows for custom input of account 
CommissionCommission value 
Commission TypeWhat type of commission 
Processing FeeThe monetary value of the processing fee 
Allocate when filled  
Trade DateThe trade date 
Settlement DateThe settlement date 
CommunicationThe method of communication in which the order came inChoose between phone, mobile, email, instant messaging programs, in person, general internet or undefined.
Client CommentAdd an optional client comment. 
Internal CommentAdd an optional internal comment. 
Order ReferenceA user specified value which references orders from external systemsThis value can be a maximum of 10 characters. It is sent to the market
Send Email toAdd an optional email address 
Is AdviceCheck box if the order is an advice order. 
Show MiFidClick to show clients MifFid registration. 
Salesperson  
Is Forward Contract  
MiFID II fields

Client IdentificationThe client attached to the order, a shortcode representing the client will be sent to the exchangeAuto-complete box with all clients
Investment decision within firmA shortcode representing the user will be sent to the exchangeAuto-complete box with all Kodiak OMS users within firm
Exectuion decision within firmA shortcode representing the user will be sent to the exchangeAuto-complete box with all Kodiak OMS users within firm

Information Fields

 

Field
Description
Notes
SSNThe SSN of the client 
Ref.#The reference number for the client in the external system 
MiFIDThe MiFID category of the client 
Shares on handShows the number of shares that are available to sellA tooltip will be shown when the mouse is over the box which displays more information about the Shares on Hand.
Available fundsThe available funds in the chosen account 
MiFID test statusThe Mifid status for the order 

Summary 
When all fields have been filled out, a summary will be calculated for the trade on the right side of the client. 


Summary
 
OrderbookThe name of the Orderbook
Asset ClassReference ID of the order.
Is ComplexWhether or not a given orderbook is complex in regards to MiFID
QuantityTotal quantity being bought or sold
Price ISKClean price of each share
Total ValueTotal value of the shares
CommissionCommission Amount
Processing FeeProcessing Fee Amount
Total costTotal cost to the Order
Total InvoiceTotal sum of all invoice amount.