SPIDERROCK

P L A T F O R M

SpiderRock V7 Tool Concept Guide

Order Manager

July 23, 2018

1
ORDER MANAGER
The SpiderRock Order Manager is a live order-and-execution management tool, allowing the user to
monitor and manage intra-day trading activity (both working and executed orders) at the portfolio
level. Users can filter and aggregate execution views from the Order Manager based on many
different metrics, as well as monitor, cancel, edit and trigger active orders efficiently.

SPIDERROCK
2
P L A T F O R M
EXECUTIONS TAB

• This is the default tab when the tool is launched.

• The Executions tab displays the real-time ‘waterfall’ of all intra-day stock, option and futures
trades flowing through the system for selected account(s), regardless of entry source. Over
one hundred execution metrics and filters are available to customize the window view. In
addition, the top row above the grid aggregates execution metrics across trades at the portfolio
level and for all selected accounts.

• The Executions tab displays all fills (examples are shown above in black) and rejects (examples
are shown above in red) processed by the system. The system provides a reason for the rejects
so that users can assess any issues with their orders and if necessary, address them with our
customer support desk in real-time.

• Executed orders will be displayed chronologically (newest at the top, and oldest at the bottom),
unless a different metric is selected by double-clicking the relevant column.

• Users can apply general filters using the metrics across the top (Buy/Sell, Expiration, ... ) to
narrow the amount of fill records shown.

SPIDERROCK
3
P L A T F O R M
EXECUTION AGGREGATIONS TAB

• When managing broad-based portfolios, the user has the ability to aggregate all executions
using multiple parameters, such as SecurityType and Account (as shown above). Available
filters make it easier for the user to have a bird’s-eye view of intra-day trading activity, or to drill
down for troubleshooting and performance analysis.

• In addition to the general filters across the top, users can aggregate executions using the
selection dropdowns (shown below) for up to three different criteria. If only one criteria is
desired, users select that option from the first dropdown list and select ‘All’ from the second
and third dropdown lists. If two criteria are desired, the Order Manager will aggregate first by
the option from the first dropdown list, and then by the option from the second list.

• The results appear in the upper grid. The above example has been aggregated across
SecurityType and Account.

• This tab includes a split-window concept, wherein the lower grid displays all individual fills
comprising the aggregation line above. For example, when clicking on the SPX : 2017-09-15
aggregation line in the upper grid, the lower grid displays the corresponding individual option
trades.

SPIDERROCK
4
P L A T F O R M
STOCK, OPTION, FUTURE, MULTI-LEG ORDERS TABS

• The four order tabs (Stock Orders, Option Orders, Future Orders, and Multi Leg Orders)
display all working and executed orders and provide order status information. Selecting the
Active checkbox (top upper right, not shown) limits the display to orders which are active and
working.

• All four tabs follow the same design. As in other tabs, users can narrow the working order
records by using the general filters across the top. The aggregation row above the grid allows
the user to quickly reference metrics such as total number of working orders, total open size
in that asset class, and many more that can be selected by right-clicking and picking from the
Selected Totals menu list. The upper grid provides the latest status of a parent order. The
lower grid provides the history of a parent order.

Important upper grid features:

• The child.orders column (see red arrow on diagram on page 5) provides information on the
behavior of the SpiderRock execution engine, particularly when posting liquidity. It displays
how many contracts/shares, at what price, and on what exchange the child order is currently
working.

• Broker state (brkr.state) and order status (order.status) columns together display whether
a parent order is new and working, closed and either filled or expired, rejected or in WaitStart
mode.

• The risk.desc column provides information as to why an order is put on risk hold. There are
a number of reasons why this can happen. Sometimes the trader’s intervention is required to
release an order from WaitStart mode. Other times the order might violate a specific risk set
limit.

SPIDERROCK
5
P L A T F O R M
STOCK, OPTION, FUTURE, MULTI-LEG ORDERS TABS
• The risk.lmt.sz column shows how many units away the order is from hitting a risk limit. Red
text and numbers indicate that the risk size has dropped below the current order size, and the
order will likely hit the risk limit before being filled.

• lmt.prc and lmt.vol use color-coding to convey information about the user price or volatility
limit’s distance from the NBBO:

›› A blue number indicates the order is below (buys) or above (sells) the NBBO.

›› A black number indicates the order is within the NBBO range.

›› A green number indicates that an order is immediately marketable.

• Canceling Orders: Working orders can easily be canceled from the order tabs. All working
orders in a particular asset class can be canceled at once when clicking the red CANCEL
button in the upper right corner. Users can also select one or several orders (hold down the
“ctrl” key and left-click to highlight multiple non-contiguous lines), and right-click on Cancel
Selected Rows to cancel the selected orders as shown below:

SPIDERROCK
6
P L A T F O R M
STOCK, OPTION, FUTURE, MULTI-LEG ORDERS TABS
• Editing Orders: Working orders can easily be modified from the order tabs. There are two
mehtods to editing an order. Right-clicking on one or several orders, shows the menu shown
below (left). Users can select Change Size/Price/Vol to quickly edit the size, the limit price/vol,
or the make/take probability of an order (see image below on right).

• If a user wanted to restate one or several orders in its entirety, they may select Edit Selected
Rows, which will launch a Basket Blotter. From that screen, the user can change all parameters
of an order. Once parameters are changed, click 'send all' to replace the existing order.

• Most parameters are similar to the ones found within the order entry tickets of the Symbol
Viewer. Please reference the Order Entry Tickets concept guide for more details.

SPIDERROCK
7
P L A T F O R M
STOCK, OPTION, FUTURE, MULTI-LEG ORDERS TABS
• Releasing Staged Orders: Users who are staging orders into the SpiderRock system can
release one or several orders by highlighting them, right-clicking, and selecting Release Staged
Orders as shown in the menu below. All orders in the same Risk Group can be releasef by
selecting Release Staged Orders (Risk Group)

Important lower grid features:

• The data displayed in the lower grid is the Broker Event View, which allows the user to see
more details and history about the status of any given order. It may be disabled by opening the
Settings menu and selecting ‘Hide Parent Order History’. To populate the Broker Event View,
simply left-click any order row in the top grid, and Broker State View will display all events in the
order’s life span.
• Columns in Broker Event View are customizable in the same way as those in the upper grid,
and may be added, removed, color-coded, or re-ordered.
• In the below example, sequenced by Time Stamp, it is easy to see the order’s history as it
unfolds. Each row represents a child order carried out by the system. Note that the event.num
number counts upward until either the order is canceled, rejected, or fully filled, at which point
it is reset.

SPIDERROCK
8
P L A T F O R M
GENERAL FUNCTIONALITIES ACROSS TABS

Filter and View Options – available in all 6 tabs:

Pre-saved filters: The four small boxes highlighted in red above allow the user to save their
most complex or commonly-used filters for easy access in the future. To assign a save slot,
first manually apply the desired filters to your columns (see the section on ‘Filters’ for further
instructions). Then hold the shift key and click the box you would like to designate as the slot in
which to save these filters.

Remove Filters: If any filters are applied, click the blue funnel in the lower right corner of the Order
Manager to remove all filters.

Waterfall: Clicking the waterfall button will reset the page to chronological order, with the newest
entries at the top and the oldest at the bottom. When Order Manager is live, new orders and
executions will appear automatically at the topmost row.

‘View’ Drop-down and Add/Remove View buttons: Whereas filters allow the user to limit the data
by specific values, views determine what columns of data are even displayed. Upon first launching
Order Manager, the columns shown are those associated with the Default View. You may add
or remove columns at any time (see the section on ‘Columns’ for further instructions). To save
an arrangement of columns for future use, click the Add View button (+) to the right of the drop
down, enter a name, and click save. To remove an obsolete arrangement, select that view from the
dropdown and click the Remove View button (-).

Quick Filters: The RiskGrp and Syms boxes are the quick filters, which allow the user to easily
filter data based on Risk Group and Ticker Symbol respectively. To filter by symbol, simply enter the
ticker symbol into the Syms box and press enter. To filter by risk group, right-click on the row of the
desired trades in Order Manager, and select “Filter on Risk Group”. This way you can avoid manually
entering the lengthy risk group IDs into the RiskGrp box. To remove all quick filters, click the Clear
Quick Filters button (c) to the left.

SPIDERROCK
9
P L A T F O R M
GENERAL FUNCTIONALITIES ACROSS TABS

Accts: This drop-down menu allows the user to move between accounts to which they have
access. The currently active account is always displayed in this box.

Manual Refresh: This button showing two green arrows allows the user to refresh all data currently
shown in the Order Manager, even when the waterfall is paused.

Live/Paused Toggle: By clicking this button, the user can pause and un-pause the page. When the
button is green and reads ‘LIVE’, the Order Manager will constantly update the waterfall with new
entries. When the button is red and reads ‘PAUSED’, new entries will not be shown, allowing the
user to view rows without them changing position.

Settings: Clicking the settings button opens the following box:

SPIDERROCK
10
P L A T F O R M
GENERAL FUNCTIONALITIES ACROSS TABS

Settings:

• Save will save all column settings, including views and filters, for easy retrieval.

• Load will revert all column settings to the last saved state.

• Reset Defaults will return all column settings to their SpiderRock defaults.

• Auto-refresh is selected by default, and allows changes to column settings to take effect
immediately. If un-checked, changes will not take effect until the user clicks the Refresh button.

• Hide Grid Lines is selected by default. If un-checked, the grid lines between boxes in the Order
Manager will be more pronounced.

• Sounds allows the user to set certain audio notifications for fills and rejects.

• Grid Row Size allows the user to alter how many rows are displayed at once on their screen
without scrolling. If changed from ‘Normal’ to ‘Compact’, rows will be smaller and more
numerous.

• Column Properties allows the user to select the visible columns and filters (see ‘Column
Properties’ section below).

- Auto Width will resize columns to the smallest width required to display all data.

SPIDERROCK
11
P L A T F O R M
GENERAL FUNCTIONALITIES ACROSS TABS

Column Properties

Data in Order Manager is displayed in columns. By default, a certain set and order of columns is
displayed in each of the six Order Manager tabs, but these can be customized to suit the user’s
individual needs.

To change column properties, either right-click the column header or select Column Properties
from the settings menu. Either option will bring up the following window:

From this window, the user can select which columns are displayed in the view, and what filters are
applied.

›› The ‘Caption’ section shows the name of the column.

›› To choose whether a column is displayed, check or uncheck the box in the ‘Show’ section. If
you right-click anywhere in this window, you may choose to quickly select all or none of the
available columns.

SPIDERROCK
12
P L A T F O R M
GENERAL FUNCTIONALITIES ACROSS TABS
From this window, the user can select which columns are displayed in the view, and what filters are
applied.

›› The ‘Caption’ section shows the name of the column.

›› To choose whether a column is displayed, check or uncheck the box in the ‘Show’ section.
If you right-click anywhere in this window, you may choose to quickly select all or none of
the available columns.

›› To view or apply filters for a given column, left-click the blue funnel symbol in the ‘Filter’
section. This will open a pop-up menu allowing you to select the criteria by which to filter.

›› The ‘Colors’ section allows you to select a background and foreground color for that
column, to aid in quick identification.

›› The ‘Description’ section provides a short explanation of what is tracked by the column in
question.

›› The ‘Group’ section bundles columns by related subject matter. Clicking ‘Group’ or ‘Caption’
will allow the user to quickly sort this window alphabetically by the relevant option.

›› The ‘Search’ box allows the user to quickly find a desired column without scrolling through
an extensive list. The ‘Group’, ‘Caption’ and ‘Description’ boxes to the right allow the user to
select in which sections to search for the word or phrase entered.

›› The (+) and (-) buttons allow the user to adjust the width of columns in Order Manager by
increments. The Auto Width button will resize columns to the smallest width required to
display all data.

To move a column, click the column heading in the grid and drag it left or right to the desired
position. To adjust the order of all columns at once, open Column Properties and click the
‘Reorder’ box. This will open a display on the left of the window where the user can drag and drop
all available columns into a specified sequence.

To change the width of individual columns, left-click the divider between column headings and drag
left or right. The width of all columns may be adjusted from the Column Properties menu.

SPIDERROCK
13
P L A T F O R M
GENERAL FUNCTIONALITIES ACROSS TABS
To select an individual column, left-click the heading. To select a contiguous group of columns, left-
click the heading of the first desired column, hold Shift, and click the last desired column. To select
a non-contiguous group, click the heading of the first desired column, hold Ctrl, and select each
desired column in turn. To select all columns, left-click the blank column heading at the far left.

Once selected, columns may be copied and pasted into programs like ‘Excel’ using Ctrl-C and
Ctrl-V respectively. Selected columns will be transferred along with their column headings.

Additional filters

Filters allow the user to examine only specific data within their selected view. A large number of
commonly used filters are contained in the Filters menu, located at the top-left of the column
headings. Clicking this menu will open a dropdown where the user may select the criteria by which
to filter their available columns.

To apply less common filters, or to adjust filters for all available columns at once, open the Column
Properties window and left-click the blue funnel symbol next to the desired columns.

REMINDER: There is no need to adjust filters every time you open Order Manager. You may save
up to four different configurations of filters (in addition to your custom views) using the Pre-saved
filter buttons at the top of the page.

SPIDERROCK
14
P L A T F O R M
GENERAL FUNCTIONALITIES ACROSS TABS

Totals or Aggregation row

Below the tabs and above the column headings are the Totals boxes.

These boxes provide a quick summary of several sum values for the data currently displayed. Note
that if filters are being employed, the totals will reflect only the filtered data, and not any executions
currently hidden from the screen.

Each tab displays a certain set of Totals by default. Users can edit which Totals are shown by right-
clicking any of the Total boxes and selecting the desired categories from the menu shown below.
Like column selections, these choices are saved as part of the user’s ‘View’.

SPIDERROCK
15
P L A T F O R M