Montage Monitor Settings

	Setting	Description
Order
	Include Sell Short Exempt	Activates the Sell Short Exempt side button on the Montage Monitor’s Order bar or Smart Action bar.
	Reset After Submit	Automatically clears all Order bar or Smart Action bar fields after an order is submitted.
	Ignore Ticket Price Type	Ignores the Ticket Type passed to the Montage Monitor’s Order bar or Smart Action bar when a row is selected in a linked Message Monitor’s Ticket view.
	Dynamic Ticket Leaves	Populates the Quantity field of the Montage Monitor’s Order bar or Smart Action bar with the current Ticket Leaves quantity. If more than one Ticket corresponds to the security, the primary Ticket’s Leaves quantity is populated.
	Sweep Quantity	Populates the Quantity field of the Montage Monitor’s Order bar or Smart Action bar with an aggregate size when you select multiple rows in the Level 2 Quote bar (sweep).
	One Click Quantity	Populates the Quantity field of the Montage Monitor’s Order bar or Smart Action bar with the value you click in the BidSize or AskSize column of the Level 2 Quote bar.
	Drag and Drop Own Order	Enables you to update the price of your orders and the orders of those you supervise [displayed with an orange background and an asterisk (*) to the left] by dragging and dropping them in the Level 2 Quote bar.
Display
	Ignore Quote Status	Inactive Market Makers and ECNs are displayed in gray in the Level 2 Quote bar of the Montage to signify their inactive status. This feature will show them as active, even if they are not.
	Sort By Size Within Tier	Sorts Market Makers and ECNs by descending display size within each price tier.
	Watch All Execution	Displays all executions in the Montage Monitor’s Execution bar, as they occur.
	Old Color Scheme	Automatically reverts the Montage Level 2 Quote bar to the old color scheme.
	Auto Resize Column	Automatically adjusts the width of the columns in the Level II Quote bar area of the Montage. Turn it off and you can adjust each column manually.
	Show Odd Lots	Displays all Odd Lots in (parentheses) in the Level 2 Quote bar.
	Symbol Dependent View	Enables the Montage Monitor to change views based on the type of symbol entered; currently, the Montage Monitor has separate views for U.S. and European symbols.
	Display NYLQ Warning	Displays the following message on the Montage Monitor's Status bar when the NYLQ Feed has been selected and a listed symbol is entered: NYLQ is not a BBO; NYLQ size includes NYSE BBO size.
	Input Focus to First Field	Places the cursor in the first editable field of the Smart Action bar. While the default behavior (e.g., the cursor is placed in the Symbol field) is well suited to the static Order bar, the order of Smart Action bar fields is dynamic, and automatic placement of the cursor in the Symbol field may detrimentally affect usability.
Aggregate Quotes by Price
	On	Displays an aggregate view of the Price tiers: the number of Market Makers/ECNs in each tier, the quoted Price, and the aggregate number of shares (i.e., the sum of each Market Maker On the NASDAQ system, a broker-dealer willing to accept the risk of holding a particular number of shares of a particular security in order to facilitate trading in that security. Each Market Maker competes for customer order flow by displaying buy and sell quotations for a guaranteed number of shares. Once an order is received, the Market Maker will immediately sell from its own inventory, or seek the other side of the trade until it is executed, this process takes place in just seconds. /ECN’s An Electronic Communication Network ( ECN An Electronic Communication Network (ECN) is an electronic system that attempts to eliminate third parties orders entered by an exchange Market Maker or an OTC Market Maker by networking major brokerages (and individual traders) so that they can trade directly between themselves without having to go through a middleman. ) is an electronic system that attempts to eliminate third-party orders entered by an exchange Market Maker or an OTC Market Maker On the NASDAQ system, a broker-dealer willing to accept the risk of holding a particular number of shares of a particular security in order to facilitate trading in that security. Each Market Maker competes for customer order flow by displaying buy and sell quotations for a guaranteed number of shares. Once an order is received, the Market Maker will immediately sell from its own inventory, or seek the other side of the trade until it is executed, this process takes place in just seconds. by networking major brokerages (and individual traders) so that they can trade directly between themselves without having to go through a middleman. shares in the Price tier, divided by 100).
	On/Display Your Orders Separately	Displays an aggregate view of the Price tiers: the number of Market Makers/ECNs in each tier, the quoted Price, and the aggregate number of shares (i.e., the sum of each Market Maker On the NASDAQ system, a broker-dealer willing to accept the risk of holding a particular number of shares of a particular security in order to facilitate trading in that security. Each Market Maker competes for customer order flow by displaying buy and sell quotations for a guaranteed number of shares. Once an order is received, the Market Maker will immediately sell from its own inventory, or seek the other side of the trade until it is executed, this process takes place in just seconds. /ECN’s An Electronic Communication Network ( ECN An Electronic Communication Network (ECN) is an electronic system that attempts to eliminate third parties orders entered by an exchange Market Maker or an OTC Market Maker by networking major brokerages (and individual traders) so that they can trade directly between themselves without having to go through a middleman. ) is an electronic system that attempts to eliminate third-party orders entered by an exchange Market Maker or an OTC Market Maker On the NASDAQ system, a broker-dealer willing to accept the risk of holding a particular number of shares of a particular security in order to facilitate trading in that security. Each Market Maker competes for customer order flow by displaying buy and sell quotations for a guaranteed number of shares. Once an order is received, the Market Maker will immediately sell from its own inventory, or seek the other side of the trade until it is executed, this process takes place in just seconds. by networking major brokerages (and individual traders) so that they can trade directly between themselves without having to go through a middleman. shares in the Price tier, divided by 100); your orders, as well as the orders submitted by users you supervise, will appear with an orange background and an asterisk (*) to the left.
	Off	Price tier aggregation is off; this setting defaults.
Feed (Your Level II quote is a combination of several quote feeds. As each of the following choices are checked off in the Feed section, it is integrated into your quote)
	L2/Quote View	Displays the Best Bids and Offers off all participating Market Makers and ECNs in the Montage monitor (SuperMontage QuoteView).
	1CHI	Displays One Chicago's five best bids and offers.
	ARCA	Displays Archipelago's ten best bids and offers.
	BRUT	Displays Brass Utilities' ten best bids and offers.
	BTRD	Displays Bloomberg's five best bids and offers.
	CBOT	Displays Chicago Board of Trade's quote depth for futures.
	CFE	Displays CBOE Futures Exchange’s quote depth for futures.
	CME	Displays Chicago Mercantile Exchange’s quote depth for futures.
	INCA	Displays Instinet's fifteen best bids and offers.
	INET	Displays Island’s ten best bids and offers.
	Depth View	SuperMontage view that displays the aggregate size of all quotes and orders at each of the top five price levels.
	NQLX	Displays all bids and offers for the NQLX exchange.
	NYLQ	Displays the aggregate NYSE liquidity.
	NYSE Open Book	Displays the NYSE Specialist book.
	Total View	Super Montage view that displays all quotes and orders, and aggregates participant interest at the top five price levels.
	ADF	Displays all quotes and orders of non-SuperMontage NASD participants.
	ORDER	Integrates your orders into the quote. The orders you place are displayed with an asterisk (*).
View (display the following monitor components)
	Title bar	Displays the monitor name or the name corresponding to the symbol entered in the Order bar or Smart Action bar.
	Tool bar	Provides various command buttons.
	Quick Update bar	Allows you to quickly update open orders from the Montage Monitor.
	Execution bar	Displays the last execution of the stock being viewed in the Montage Monitor.
	Quote bar	Displays Level I Real-time bid/ask quotes for securities trading on the NASDAQ stock market and comparable information for securities quoted in the OTC Bulletin Board Service. and performance data corresponding to the stock you entered in the Order bar or Smart Action bar.
	Order bar	Enables you to perform Order Entry functions. The Order bar and the Smart Action bar are mutually exclusive.
	Smart Action bar	Enables you to submit and/or update orders. You can configure the fields available for order entry based on the combination of the Security Type (i.e., whether the Symbol is ETF, Listed, OTC, etc.), Destination, and Price Type you enter. The Smart Action bar and the Order bar are mutually exclusive.
	Status bar	Enables you to view the order details you enter into the Smart Action bar in a simple, standardized format: Quantity, Symbol, Destination, Price Type, Account, and TIF. Modifiers of these standard order details (e.g., Discretion, Display value, Stop Limit, Hard Limit, Peg Value, etc.) are inserted relative to the corresponding standard values.
	Ticket bar	Displays the Leaves The number of shares associated with the Buy Ticket that are currently unexecuted. quantity and the Open Ticket Average Price The average price of the shares that were executed against the Buy Ticket. of the Ticket corresponding to the Symbol and Side you enter in the Order bar or Smart Action bar.
	HotKey bars	Provides buttons that facilitate the submission of orders corresponding to the parameters you selected on the HotKey Settings dialog box and added to the corresponding bar. For more information, see the Configuring HotKey Settings topic.