Cboe Options Exchange enhances PULSe Trader Workstation

Maria Nikolova

The new software version for the PULSe Trader Workstation will allow entry and routing of multiple contras on complex AIM and QCC orders.

Effective today, April 6, 2020, Cboe Options Exchange (“C1”) is set to release a new software version for the PULSe Trader Workstation which will allow entry and routing of multiple contras on complex AIM and QCC orders.

Prior PULSe software versions allowed entry of multiple contras for COATS recording, but only one contra order was sent to the Exchange. The new release (version 5.7.0) has been enhanced to allow entry and routing of up to 10 contras on an order. The cumulative quantity for all contra-parties must equal the quantity of the primary order.

To utilize the new feature, users should select the Multi button from the Complex Paired entry ticket. A Multi box will open, displaying the user’s list of available accounts and a column for up to 10 multi contras with a base size for each. Selecting an account will move the selected account to a row in the multi contra column. Once the multi contras have been selected, a base size with the cumulative quantity equaling the total quantity of the primary order should be entered for each contra, then the Apply button should be selected.

An account may not be modified in the multi window. An account may be removed from the multi list by clicking the “X” to the right of the base size.

Multiple contras on single AIM and single QCC orders will be added in a later software version.

Let’s recall that, effective March 23, 2020, Cboe Options Exchange released a software version for the PULSe Trader Workstation, which reduced the minimum quantity required for entry of a paired QCC order. In version 5.6.0, a quantity of 1000 or greater was required to activate the send button on the paired QCC order entry ticket. With version 5.6.1, the minimum quantity is set to 1.

This enhancement was implemented to support VIX RFC order entry. The Exchange will still enforce a minimum quantity of 1000 for all products except VIX. When utilizing the paired QCC order entry ticket to enter VIX RFC orders, users will not be required to identify the “QCC Equity Trade Details” on the Paired order QCC ticket.

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