A typical scenario for managing a client order is the following:

A customer calls a trader and places an order.

A Trader creates a client order for a customer using the Client Order Entry Window.
- The trader enters the order details: side (B/S), selects the instrument, enters the quantity, price, order type, visible quantity, TIF, broker and handling instructions.
- Then the trader enters the pre-allocation details: he selects the customer (name), communication, enters the client comments (if any), portfolio, account and types in the fee details.
- The trader can choose if the order is a direct- or an advice order. If the order is an advice order then the Kodiak OMS checks the customers MiFID profile and verifies if the customer has accepted the MiFID terms or has to take the MiFID tests.
- The trader presses the "Create" button and the client order is created with the workflow status "Assigned".
The Trader can then create market order by sending the client order to the market. The client order gets the workflow status "Working".
- When the client order is sent to the market a market order is created and attached to the client order.
The market order is then executed on the market. The client order gets the workflow status "Allocation Ready".
The trader then allocates the client order. When the order has been allocated the client order gets the workflow status "Completed". Now the order has been sent to the back office for further processing

Browser not supported