To Update Open Orders

You can update the price of open orders corresponding to the row(s) you select from Portfolio Trader's Summary pane or Order Detail View pane as follows:

  1. Select the Portfolio Trader icon from the REDIPlus Application bar, and Portfolio Trader appears.

  2. Select the Trade List List of your execution goals consisting of buy or sell orders for specific securities and quantities. data rows corresponding to the open orders whose price you want to move from Portfolio Trader’s Summary pane, or select open orders from the Order Detail View pane, and click one of the following toolbar buttons:

Move to Quote - moves the price of all open Buy and Sell orders corresponding to the row(s) selected in the Summary pane to the NBBO as Limit orders.

Move +/- - moves the price of all open Buy orders corresponding to the row(s) selected in the Summary pane to .01 above the current Bid price and all open Sell orders .01 below the current Ask price.

Move to Mid Passive - moves the price of all open orders corresponding to the row(s) selected in the Summary or Order Detail View pane to the midpoint of the Bid/Ask spread, plus or minus one tick (i.e., one tick closer to either the Bid or the Ask), depending on the Side of the order. For example:

  • Given a Buy order with 10.00 – 10.04 spread, 10.02 is the mid-point, so the price moves to 10.01.

  • Given a Sell order with 10.00 – 10.04 spread, 10.02 is the mid-point, so the price moves to 10.03.

Move to Mid Aggressive - moves the price of all open orders corresponding to the row(s) selected in the Summary or Order Detail View pane to the midpoint of the Bid/Ask spread, plus or minus one tick (i.e., one tick closer to either the Bid or the Ask), depending on the Side of the order. For example:

  • Given a Buy order with 10.00 – 10.04 spread, 10.02 is the mid-point, so the price moves to 10.03.

  • Given a Sell order with 10.00 – 10. 04 spread, 10.02 is the mid-point, so the price moves to 10.01.

Move to Last Trade - moves the price of all open orders corresponding to the row(s) selected in the Summary or Order Detail View pane to the respective last executed Bid price.

Move to Marketable Limit - moves the price of all open Buy orders corresponding to the row(s) selected in the Summary pane to the Ask Limit price, and all open Sell orders to the Bid Limit price.

Move to Market - moves the price of all open orders corresponding to the row(s) selected in the Summary pane to the market price.

  1. A corresponding confirmation message appears. Review the data corresponding to the orders whose prices are to be moved, and either click [Submit] to confirm the transaction or click [Cancel] to abort it.