Ug Glautomate 10.1.rev1

GL Automate
Version 10.1 User Guide

Revision 1 December 2011
User Guide
December 2011
Copyright 2011 SunGard Global Trading

All the intellectual property rights over this document and the information it contains remain vested in SunGard Global Trading. As a consequence, it is strictly prohibited to reproduce, modify, translate, and/or transfer this document and the information it contains, whether for free or valuable consideration, in whole or in part, by any means and/or for any purpose whatsoever, without written authorization from SunGard Global Trading. The information contained in this document is deemed complete and accurate. However, it is provided to you as is without any warranty of any kind, whether express or implied, including without limitation any implied warranties of merchantability or tness for a particular purpose.
Table of Contents
Chapter 1. Getting Started 1
Introduction .......................................................................................................... 2 Launching GL Automate ......................................................................................... 3 Conguring a New Excel Spreadsheet ........................................................................ 4 Linking an Existing Excel Spreadsheet to GL Automate ................................................. 5
Chapter 2. Setting Up Spreadsheets
Input and Output Zones ........................................................................................... 8 Incorporating Execution Information in Excel ............................................................ 14
Chapter 3. The GL Automate Window

Overview of the GL Automate Window .................................................................... Using GL Automate for the First Time ...................................................................... Using Folders in GL Automate ................................................................................ Folder Status Color Schemes .................................................................................. The GL Automate Menus ....................................................................................... The GL Automate Icons .........................................................................................
15
16 16 18 21 22 38
Chapter 4. Using GL Automate
41
Adjusting Columns in GL Automate ........................................................................ 42 Managing All Open Windows ................................................................................. 42 Changing/Adding an Instrument .............................................................................. 42 Instrument Status ................................................................................................. 43 Controlling Order Types From Excel ........................................................................ 45 Repeating Instruments ........................................................................................... 46 Price Control ....................................................................................................... 46 Prioritizing Your Orders ......................................................................................... 46 Sending Different Order Types and Market Specics ................................................... 47 Stock Labelling .................................................................................................... 48 Tracing Problems With the GL Automate Logs ........................................................... 49 Trading for Several Clients ..................................................................................... 49 Triggers .............................................................................................................. 49 Clearing Keys ...................................................................................................... 50 GL Automate Tooltips ........................................................................................... 51 One-Shot and Iceberg Orders .................................................................................. 53 Request For Quotes .............................................................................................. 54
Index
57
GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department
Chapter 1 Getting Started

Table of Contents
Introduction .................................................................................................................. 2 Launching GL Automate ................................................................................................. 3 Conguring a New Excel Spreadsheet ................................................................................ 4 Linking an Existing Excel Spreadsheet to GL Automate ......................................................... 5
Chapter 1. Getting Started
Introduction
GL Automate is a trading tool designed to act as a gateway from Excel/an API application to the market. Excel provides the freedom to develop unique trading strategies with no additional software development, and also features an RFQ tag to enable the detection of and response to Requests For Quotes. The goal of GL Automate is to minimize the manual intervention required to send new orders, modify orders, cancel orders and follow a pre-programmed trading strategy. The uses of GL Automate are varied, and can include arbitrage, such as pairs trading or index arbitrage. It is also useful for Market Makers, for whom it provides the ability to automatically send buy and sell orders to the market for all types of nancial instruments (stocks, bonds, warrants, options and futures, etc.). GL Automate is multi-market, multi-Trading Server (SLE) and multi-underlying, working in an open environment through either DDE (Dynamic Data Exchange) or RTD (Real Time Data) links. More for information on DDE and RTD links, refer to the User Guide "GL XLS", available on gltrade.net. It is a trading tool used within the GL Win framework, and is designed to send orders to the market on the basis of automatic data analysis and formulas which you determine and update via a Excel spreadsheet. Three elements are required to operate the GL Automate
Excel
The GL Automate module GL Win Both Excel and GL Automate are fully congurable (see section Conguring a New Excel Spreadsheet (page 4) and Chapter 3, The GL Automate Window (page 15)).
Key Elements
The key elements of GL Automate are as follows: Key Features Uses Excel for creating trading strategies. Key Benefits Flexibility to create any trading strategy to customize dedicated activities like market making, trading, hedging, arbitrage, diming, etc. Prot from real-time data imported into Excel. Integration of custom options pricing model. Easy management of large portfolios or trading books. Key safety features for automated trading. High performance - large books can be centralized for better management - volume handling - scalability. Cross-border arbitrage trading or market-making. Robust high performance in all market conditions .
Tree view display and warning system. Over 2000 instruments can be handled by one GL Automate. Multi-market (60) Enhanced quote sending.
Executed orders are directly integ- Position management prot and loss calculations and additional rated in Excel. real-time data for execution-dependent trading strategies.
GL Automate Interface Features

The following is a list of the GL Automate interface features: Adapted architecture for Quote Sending. A fully customizable Tree view display allows better management of large numbers of instruments. You can create a folder of instruments that can be enabled or disabled automatically. A warning system automatically opens any le/instrument containing a change of status such as max Quantity Price reached. The log can show different depths of detail and smaller log sizes. A permanent display of the log (both exchange acknowledgements and automated messages) can be added as a ticker to the bottom part of the GL Automate interface. Audible alerts have been added to detect a change in status. A priority can be given to instruments in the event of a queue of orders. The same instrument can be repeatedly used and a TAG identier distinguishes between instruments.
Excel Interface Features

The following is a list of the Excel interface features: 2000 instruments can be handled at a time. The user can use Excel to control the order types (quote, simple, double quote) sent to the market. Market specics are to be added in Excel, these include shortsell, shortsell exempt ags etc. Displays US based instruments that use fractions. The Status of an instrument or group of instruments can be displayed in Excel; it can also be controlled directly from Excel. The number of updates sent per instrument is displayed. Position keeping data shown in GL Automate is displayed in Excel in a new Output Zone.
Launching GL Automate
GL Automate is a product that cannot work alone. In order to use GL Automate, Excel and GL Win or GL Stream Workstation are mandatory. You can open other windows simultaneously, e.g. the Market Watch +. To monitor trading, it is recommended that you open the Order Book and Trading Watch windows.
Loading GL Automate
From the deskbar, click the Trading Tools icon GL Automate opens: and select GL Automate from the menu.
After opening GL Automate, you need to import or congure a Excel window before you can continue (see section Conguring a New Excel Spreadsheet (page 4)). Note
You can automatically link an existing Excel spreadsheet every time you start GL Automate. See section Conguration (page 27).
Configuring a New Excel Spreadsheet

Excel controls the trading data you pass through GL Automate. When rst conguring your Excel spreadsheet,
you need to import the column titles from GL Automate as shown in this procedure. 1. Click the icon in GL Automate. A template will be put in the clipboard so that you can transfer it to Excel. 2. 3. In Excel , press CTRL+V . The congurable column titles from GL Automate are pasted into the current spreadsheet. The Excel spreadsheet consists of an Input Zone and an Output Zone; of these, only the Input Zone is mandatory. Note
The more columns are dened, the heavier the trafc will be. This may have a negative impact on the performance of GL Automate. For more information, see section Input and Output Zones (page 8).
Chapter 1. Getting Started Important
All Excel cells must be closed by pressing Enter, or GL Automate will not detect the Input and Output zones. There can be no unnished formulae in the Excel spreadsheet.
Note
The Input columns in GL Automate can contain either constants or calculation results. Thousand separators are unsupported. Use either standard or number data format in the spreadsheet cells for consistent import/export compatibility with GL Automate.
Linking an Existing Excel Spreadsheet to GL Automate

You can import a previously congured and saved Excel spreadsheet for use with GL Automate into the current GL Automate session. 1. 2. In GL Automate, click the Search for EXCEL Spreadsheets icon to search for any currently open Excel spreadsheets. GL Automate automatically detects any currently open spreadsheets and puts them in the Excel Selection dialog so that you can choose between them. 3. 4. Choose the spreadsheet you want to import into GL Automate from the Excel Selection box, and click OK . The data appears in the Information Data Display in GL Automate, and any changes you make in price and quantity from Excel will automatically change in GL Automate. Open the saved Spreadsheet in Excel and make sure that the standard format is applied to the cells.
Important
All Excel cells must be closed by hitting the Enter Key, or GL Automate will not detect the Input and Output zones. There can be no unnished formulae in the Excel spreadsheet.
Note
Linking a Spreadsheet Created with a Previous Version of GL Automate

Linking old spreadsheets used with a previous GL Automate version implies the following prerequisites. An input zone must be dened. The following columns must be added:
OrderType StopPriceB StopPriceS
Chapter 1. Getting Started For descriptions of each order type, please refer to section Controlling Order Types From Excel (page 45). The column CkeyGlobal no longer exists. The column CNC no longer exists. Columns can be in any order in the Input Zone. A blank in Excel is treated as a zero, so entering a zero is not obligatory in any zone. There are only two obligatory columns, the Symbol column and the Order Type column. For information on setting up Excel spreadsheets, refer to section Incorporating Execution Information in Excel (page 14).
Chapter 2 Setting Up Spreadsheets

Table of Contents
Input and Output Zones ................................................................................................... 8 Incorporating Execution Information in Excel .................................................................... 14
Chapter 2. Setting Up Spreadsheets
Input and Output Zones

Your spreadsheet has a pre-dened format known as the control table, containing the 16 column titles you copied from GL Automate. You establish a link between this table and GL Automate, which can then respond in real time to price or quantity modications made using Excel. The purpose of the control table is to provide GL Automate with essential information, such as prices, quantities or security lters. Note
When rst conguring Excel, you must dene an Input Zone (dening an Output Zone is optional). The Input Zone will contain information which goes from Excel to GL Automate, and the Output Zone will contain the results of data coming from GL Automate to Excel (for example instrument status, quantities etc.). The Output Zone makes it possible to visualize the GL Automate output immediately, directly in Excel. Every GL Automate trade generates a return in the Excel Output Zone, and no output from any other GL Win application is shown there. For example, if all columns are to be used: In any cell, add INPUTZONE=A3X103, where A3 is the top left cell of the zone, and X103 is the bottom right cell of the input zone. In this case the beginning cell A3 will be the cell which contains the formula column heading Folder (if using the Folder column). In any cell, add OUTPUTZONE=Y3AM103, where Y3 is the top left cell of the output zone and AK150 is the bottom right of the zone. Note
Dening an Output Zone is optional. Therefore, if you only need seven columns in your GL Automate, you can set the elds as INPUTZONE=A3G103.
Once pasted, the columns can be shufed or removed at will. The columns do not have to be in any order. It is not necessary to place a zero in unused Input Zone columns - if MaxQtyDay is left blank, it means there is no MaxQtyDay. Note
Any mistake will be immediately displayed in the scrolling ticker in the main GL Automate window. Also, if the zone is deep and does not contain any Symbols, when Symbols are later added, they will dynamically appear in GL Automate.
The Input and Output Columns

The input and output columns are described in Input and Output Columns Descriptions (page 9). Important
If you are using the equals sign (=) as a prex in the Excel spreadsheet, you will need to use '= instead of = before the symbol. Excel assumes that the equals sign indicates the beginning of a formula, so the contents of the cell will be ignored as nonsense unless you do this.
Chapter 2. Setting Up Spreadsheets Table: Input and Output Columns Descriptions Field
Folder
Meaning
Input / Out- Mandatory / put Zone Optional O
Create a folder for the Tree View. The use of Input a forward slash / creates a subfolder, for example folder/subfolder. The ofcial symbol of the instrument. You Input must type the symbol in capital letters, or you can drag and paste the Symbol, ISIN or Stock Code required from the Market Watch window. Create a Tag (eg. 1, 2, 3, 4...) when the same Input instrument is used more than once. The value cannot be less than zero, and it cannot be higher than 999. For descriptions of each order type, see section Input Controlling Order Types From Excel (page 45). A quote is an order which is automatically cancelled by a following order. When GL Automate is in Quote mode (Q has been specied in the Excel Order Type column), selecting the individual Buy and Sell options is impossible. In this case, only the Buy and Sell icons are activated. It is NOT advisable to change the Order Type without rst disabling the instrument. For labelling - type any name required or add Input a RTD and see Free Text displayed in the interface. '+', '-' or blank are the 3 priorities when order Input ow control restricts orders from leaving GL Automate. Allows you to choose a specic broker/server Input when several Trading Server (SLE) accesses are available for the same market. You may have four different Trading Servers (SLE) for one marketplace and can specify different Trading Servers (SLE) for different instruments. Type 'Node.subnode' or 'Node.subnode.userID' if a user ID is required (example: 10042.13040.100). Make sure that you use a full stop and not a comma when typing the reference. Clearing key to be used. You can either dir- Input ectly type the name of a clearing key that you have dened in the Clearing Keys Set Up window in GL Win, or leave it blank to send the default clearing key. For the specic rules of clearing keys in GL Automate, see section Clearing Keys (page 50). Clearing key to be used. You can either dir- Input ectly type the name of a clearing key that you have dened in the Clearing Keys Set Up
Symbol
Tag
O (Mandatory if repeating more than one instance of an instrument) M
OrderType
Free Text
Priority
BrokerId
CKeyBuy
CKeySell
10 Chapter 2. Setting Up Spreadsheets Field Meaning window in GL Win, or leave it blank to send the default clearing key. For the specic rules of clearing keys in GL Automate, see section Clearing Keys (page 50).
CmdStatusB
Input / Out- Mandatory / put Zone Optional
Enter enable, suspend or disable in this Input column to affect the Buy status of an instrument directly from Excel. This avoids manually enabling suspending or disabling the instrument. Quotes cannot be controlled using this column. Enter enable, suspend or disable in this Input column to affect the Sell status of an instrument directly from Excel. This avoids manually enabling suspending or disabling the instrument. Quotes cannot be controlled using this column. This allows the user to control a folder's status Input (enable suspend or disable) directly from Excel; to control a folder all columns should be blank except folder column and CmdStatusBS. Quotes must also be controlled using this column. Type the maximum number of lots or shares Input required in a day on the buy side. If this threshold is reached, GL Automate goes into forced disable mode on the buy side. Type the maximum number of lots or shares Input required in a day, on the buy side at the same price, given that the price has not changed. Each time a price moves off this level then returns, the counter is reset to zero. If you reenable after a forced disable, it also resets to zero. If this threshold is reached, GL Automate goes to Forced Disable mode unless the gure entered has an asterisk to its right (see section Sending a One-Shot Order (page 53)). Denes the quantities that are to be displayed Input on the market. You can use this to create iceberg orders (see section Sending an Iceberg Order (page 54)), which will be made up of the actual quantity (QtyB or QtyS columns) and the displayed quantity. The GL Automate interface displays the displayed quantity of the iceberg in parentheses if the iceberg functionality is being used. Type the Stop Price of the instrument. If the Input price you type does not match market tick size, the price will automatically be rounded down to the closest tick size by the GL Automate (unless you disable Automatic price rounding in the Conguration dialog box). This eld can be left blank.
CmdStatusS
CmdStatusBS
MaxQtyDayB
MaxQtyPriceB
DispQtyB
StopPriceB
Chapter 2. Setting Up Spreadsheets 11 Field

QtyB
Meaning
Input / Out- Mandatory / put Zone Optional O
Type the total quantity that you want to buy Input in one execution at the price level. This shows the number of instruments you want to show to the market, even after a partial or total execution. Changing a quantity to a zero quantity in Excel is an alternative way to immediately cancel an order on the market. When the number typed in the QtyB cell is followed by an asterisk *, GL Automate does not automatically resend this quantity when it reaches the limit. Type the buy price of the instrument. If the Input price you type does not match market tick size, the price will automatically be rounded down to the closest tick size by the GL Automate (unless you disable Automatic price rounding in the Conguration dialog box, see section Trading Server (SLE) (page 32)). This eld can be left blank. Type the sell price of the instrument. If the Input price you type does not match market tick size, the price will automatically be rounded down to the closest tick size by the GL Automate (unless you disable Automatic price rounding in the Conguration dialog box, see section Trading Server (SLE) (page 32)). This eld can be left blank. Type the total quantity that you want to sell in Input one execution at the price level. This number may contain either constants or calculation results. Changing a quantity to a zero quantity in Excel is a good way to immediately cancel an order on the market. Type the Stop Price of the instrument. If the Input price you type does not match market tick size, the price will automatically be rounded down to the closest tick size by the GL Automate (unless you disable Automatic price rounding in the Conguration dialog box). Note that this eld can be left blank. Type the maximum number of executions to Input make on the sell side at the same price, given that the price has not changed. Each time a price moves off this level then returns the counter is reset to zero. If you re-enable after a forced disable, it also resets to zero. If this threshold is reached, the system continues to modify the prices until the order is completed but does not add up quantities. You can then reactivate transmission with the GL Automate, after checking that this is acceptable. This prevents the system from the consequences of
PriceB
PriceS
QtyS
StopPriceS
MaxQtyPriceS
12 Chapter 2. Setting Up Spreadsheets Field Meaning a feed failure resulting in an inaccurately calculated price.
MaxQtyDayS
Input / Out- Mandatory / put Zone Optional
Type the number of executions to make on the Input sell side during a session. If this threshold is reached, GL Automate goes into forced disable mode on the sell side. You can reactivate transmission by modifying this parameter in Excel. Type the price, or drag and paste a price from Input the Market Watch + that you want to act as the trigger. For more details, see section Triggers (page 49). The Trigger and VarMinTrigger columns can be left empty. Type the gure that you want to act as the Input minimum variable for your trigger. For more details, see section Triggers (page 49). The Trigger and VarMinTrigger columns can be left empty. If the bid price or the sell price moves more Input than the number in this column then the instrument is forced to disable mode on the buy side or the sell side. This column is used for market anomalies. A Input number of specics can be added after one another, if separated by a semi-colon. An example is VALIDITY=FOK. See section Sending Different Order Types and Market Specics (page 47) for available parameters for the Specics column. Displays the status of the buy side of the instru- Output ment - for example, Fdisabled etc. Number of messages per instrument on the buy Output side sent by GL Automate. The capitalization of the buy side (Price multi- Output plied by quantity). Total bought on the day. Total bought at that price; if price changes counter rests to zero. Output Output
Trigger
VarMinTrigger
PriceCtrl
Specifics
OutDispStatusB OutNbMessB OutCapDayB OutQtyDayB OutQtyPriceB OutQtyOrderB OutQtyRemB OutPriceB OutPriceS OutQtyRemS OutQtyOrderS
N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Total bought quantity for that order, if a new Output order is sent the quantity resets to zero. As displayed in QREM in the nego; the quantity remaining in the market. Bid Price sent to the market Ask Price sent to the market As displayed in QREM in the nego; the quantity remaining in the market. Output Output Output Output
Total sold quantity for that order, if a new or- Output der is sent the quantity resets to zero.
Chapter 2. Setting Up Spreadsheets 13 Field

OutQtyPriceS OutQtyDayS OutCapDayS OutDispStatusS OutNbMessS OutDispStatusBS OutReasonB OutReasonS
Meaning Total sold at that price; if price changes counter rests to zero. Total sold on the day.
Input / Out- Mandatory / put Zone Optional Output Output N/A N/A N/A N/A N/A N/A N/A
The capitalization of the sell side (Price multi- Output plied by quantity). Displays the status of the sell side of the instru- Output ment - for example, Fdisabled etc. Number of messages per instrument on the sell Output side sent by GL Automate. Displays the status of the folder. Output Displays a number corresponding to a GL Output Automate message on the Buy or Sell side. See OutReasonB and OutReasonS Messages (page 13) for possible message numbers. User's Bid Price, currently on the market (sent Output by the GL Automate). User's Ask Price, currently on the market (sent Output by the GL Automate).
OutPriceB OutPriceS
N/A N/A
Note
Note
Since Excel cannot handle DDE links in hidden columns properly, you must not hide any column in the control panel. If you do not want to see a column, you may either discard it if it is not mandatory (in this case remember that you must update the zone denitions in order to remember the right column headers) or set its width to a very small value (e.g. 0.1).
Table: OutReasonB and OutReasonS Messages Message number 0 1 2 3 4 5 6 7 8 Null Max Quantity Day Reached Max Quantity Price Reached Instrument is Suspended by Exchange Number of retries exceeded Price Control Exceeded Self Matching Prevented Quantity Error: Not a multiple of Lot Size Trading Server (SLE) Not Ready Description
14 Chapter 2. Setting Up Spreadsheets
Incorporating Execution Information in Excel

With the GL Automate Output Zone, you can not only display the state of your orders, but also the level of execution for these orders on an ongoing basis. GL Automate related output is written directly to the GL Automate Output zone dened in the Excel spreadsheet. Although GL XLS Data Links (RTD) encompasses all trade executed, the GL Automate output zone contains only GL Automate specic data. Please refer to the User Guide for GL XLS Data Links, available on gltrade.net for more information on using the Execution links.
Chapter 3 The GL Automate Window

The GL Automate window contains menus, a toolbar, the Tree View, the Instrument Data Display, and the scrolling Ticker View.
Table of Contents
Overview of the GL Automate Window ............................................................................ Using GL Automate for the First Time .............................................................................. Using Folders in GL Automate ........................................................................................ Folder Status Color Schemes .......................................................................................... The GL Automate Menus ............................................................................................... The GL Automate Icons ................................................................................................. 16 16 18 21 22 38
16 Chapter 3. The GL Automate Window
Overview of the GL Automate Window

Figure: The GL Automate Window
The Instrument Data Display. The instrument data display shows the information pasted from Excel in columns, as well as the status, and whether your limits have been reached or not. A system of colors is used for conguration details (see section Colors (page 23)). Keeping the mouse over an instrument in the Instrument Data Display, and holding the left button, displays a tooltip with information pertaining to that instrument (see section GL Automate Tooltips (page 51)). The Scrolling Ticker View. The GL Automate Scrolling Ticker provides real-time feedback about all currently active instruments, their status (indicated by a color), quantity, price bought and/or sold at. The Scrolling Ticker provides an at-a-glance log enabling you to keep a historical track of GL Automate events. See The Scrolling Ticker (page 16). Figure: The Scrolling Ticker
Note
See the Conguration section for information about setting up the level of depth of information, changing the colors of warnings, etc.
Using GL Automate for the First Time

Follow the instructions below to congure the basic data needed to get started with GL Automate.
Constructing a New GL Automate Spreadsheet

1. Open both GL Automate and Excel.
Chapter 3. The GL Automate Window 17 2. To use GL Automate you need column headings in Excel. These column headings can be entered in any order and can be entered manually. By clicking on the settings icon all the available columns are pasted onto the clipboard, ready for you to paste into Excel. Once pasted you can choose which columns you require. A message box will open, with the following text: . Column headers have been copied onto the clipboard. Use CTRL+V to paste columns into EXCEL. Dene 2 rectangles in Excel; one for the Input Zone One for the Output Zone (optional). An example is copied to the clipboard. 3. The next step is to dene the rectangular zone that contains the column headings and the instruments and data that you wish to transmit to GL Automate. An example is automatically stored on the clipboard and can be used or modied as you wish. The example given requires the user to paste into cell A1 of Excel and will allow 100 rows in Excel i.e. 100 instruments. Dening an Input Zone and an Output Zone in the Excel spreadsheet (see section Input and Output Zones (page 8)). Name and save the spreadsheet.
Connecting GL Automate to the Spreadsheet

In the GL Automate interface, click on the Search for Excel Spreadsheets link icon and choose the spreadsheet you have just congured. GL Automate will display a message in the Scrolling Ticker View, saying that the connection has been established between GL Automate and Excel. The Scrolling Ticker will also display any problems which arise in the process.
Inserting New Instrument(s)

The following Excel columns are mandatory for adding a new instrument:
Symbol (can be Instrument code, symbol or ISIN) OrderType (O=simple order, Q=Quote, MO=Mass Order, MQ=Mass Quote, M=Price Display on
quote-driven markets)
QtyB, QtyS: Buy/Sell quantities PriceB, PriceS: Buy/Sell prices
1. Add the required instruments to the GL Automate Instrument List. You can do this, for example, by either entering the instrument symbol directly in the Excel Symbol column, or copying the Symbol header from the Market Watch Dictionary into the clipboard, and pasting it into Excel. Other alternatives to the Symbol column are the ISIN code or the Stock Code columns. 2. In the Order Type column of Excel, specify the order type. For descriptions of each order type, see section Controlling Order Types From Excel (page 45). 3. Dene a PriceB (buy price for the instrument). You can do this by dragging and dropping data from Market Watch + (for example you can take the Bid column, and drop it into the GL Automate PriceB column - that way you will always be the best bid). 4. Dene a PriceS (sell price for the instrument). You can use an Excel formula to specify that the sell price must be a certain amount more than the buy price. For example, if the PriceB is in cell M4 of Excel, typing the formula PriceS=M4+0.1 in the PriceS column will result in the sell price being dened as 0.1 more than the buy price. 5. In Excel, specify the QtyB value. This is the quantity to be shown to the market.
18 Chapter 3. The GL Automate Window 6. Specify the MaxQty Day elds (MaxQty DayB and/or MaxQty DayS) . This represents the maximum number of lots or shares required in a day, on the buy and sell sides. 7. Name the folder containing the instruments, for example CAC40. 8. Select all instruments by clicking on the Plus sign + on the right of the settings icons in the GL Automate toolbar, shown below:
Enabling the Instrument

1. Enable the instruments individually or collectively. You can alternatively give the individual instrument a status in Excel, by either typing enable in the CmdStatusB (buy status) and/or CmdStatusS (sell status) columns or manually enable the Instrument Buy, Sell, or Buy and Sell icons by clicking on them. Equally, instruments can be manually enabled by selecting the enable option from the Instruments menu, or by right-clicking on an instrument name and selecting the enable option from the pop-up menu. Each of these instrument status groupings contains a green enable icon 2. .
Activate the folder by clicking the tab beside its name in the Tree View (see section Using Folders in GL Automate (page 18)), or by typing enable in the CmdStatusBS cell. Equally, folders can be manually enabled by selecting the enable option from the Folders menu, or by right-clicking on a folder name and selecting the enable option from the pop-up menu. A tick will appear inside the box, indicating that the folder has been activated. GL Automate has a specic color scheme to indicate enable, disable and suspend status, as described in section Folder Status Color Schemes (page 21) and section Instrument Status Color Schemes (page 44).
Using Folders in GL Automate

The GL Automate tree view provides an easy way to group together numerous instruments (for example, those pertaining to the same client, etc). Folders are grouped together in the tree view on the left-hand side of the GL Automate interface, making it easier to organize large numbers of instruments. The screenshot below shows GL Automate's tree view, with all folders in the tree view selected. To select all folders in the tree view, click the plus sign + in the Folders toolbar; To deselect all folders, click the minus sign -. Multiple folders can be selected or deselected at the same time, by the standard Windows functions of holding down the Shift key to select a range, or using the Ctrl key to select individual folders. The status of folders and subfolders can also be controlled by using the CmdStatusBS column in the Excel spreadsheet. Typing enable, disable, or suspend in this cell will respectively enable, disable or suspend the relevant folder.
Chapter 3. The GL Automate Window 19
Creating a Folder
By typing the name of a folder in the Folder column in Excel, GL Automate creates the new folder. If a folder by the same name already exists, the instrument or instance on that Excel row will be put in the already existing folder.
Creating a Subfolder
Use the naming convention Folder/Subfolder to create a sub-folder in the Excel Folder column. Example: Subfolders If a folder named Henry1 exists and you want to create a subfolder inside it called HenryC, type Henry1/HenryC in the Excel Folder column, as shown in row 4 below.
In GL Automate the folders are displayed alphabetically. The above folder conguration entered in Excel will be displayed in the GL Automate tree view as follows, with the subfolder HenryC nested under the folder Henry1:
Note
A maximum of three subfolders can be created inside each folder.
20 Chapter 3. The GL Automate Window The arrangement of folders, subfolders and instruments in the Henry example is summarized in the table below. Clicking on the folder Henry1 displays no instruments in the Instrument Data Display, although its subfolder HenryC contains the instruments AGL and AFQ. Table: Folder Sub-Folder Instrument Contained Henry Henry1 HenryC Henry2 HenryC AGCR AGL, AFQ AFR
Manually Changing the Status of an Instrument or Folder

To change the status of an entire folder (for example, in the case of HenryC you might want to activate all instruments in the HenryC folder), highlight the folder then change the status to either suspend, disable, or enable:
To change the status of an individual instrument, select the instrument and change the status using one of the icons pictured below:
Changing the Status of an Instrument or Folder Using Excel

If you put the name of a folder or subfolder in the Excel column then the folder will be treated as an instrument, thus allowing Excel to control the entire folder. Note
Parameters such as Qty/Day sell, or MaxQty day, will not apply to a folder and must be left blank.
Saving and Opening a Customized Setup

Saving the Excel le will automatically save the customized setup.
Warnings
Each folder has a color according to the status you accord it, with the following meaning: Color Green Gray Status Enabled Disabled
Yellow/Orange Suspended
If the stock within a folder adopts a Forced status, the folder will adopt a ashing red icon, to indicate that an instrument within it has a different status to the one desired, as shown beside the folder GL
Chapter 3. The GL Automate Window 21 Automate below. The number of instances which have changed status within the folder is also displayed beside the folder name (16 in the example below).
If the problem is in a subfolder, then the tree will open to that point, thus allowing easier management of instruments which change status.
Folder Status Color Schemes

The folder status is represented by the following color scheme: A green folder is Enabled A folder with the default background color (according to the selected color theme) is Disabled A yellow folder is Suspended
Instrument Status Color Schemes

The instrument status is represented by the following color scheme: An instrument with green background is Enabled An instrument with the default background color (according to the selected color theme) is Disabled An instrument with yellow background is Suspended Example: Suspended Bid, Enabled Offer, Disabled Folder
In this example the bid is suspended (yellow background), the offer is enabled (green background) but the folder is disabled (background with default color). The offer is enabled but not on the market as the folder is disabled. Enabling the folder (from Excel or manually in the GUI) will send the offer only to the market. Example: Suspended Offer, Enabled Folder
Here the offer is suspended (yellow background) but the folder has been enabled (green background).The bid is not on the market, the offer is on the market but is suspended (the price can be changed but not the quantity).
22 Chapter 3. The GL Automate Window Example: Enabled Bid and Offer
In this example the bid and offer are both enabled (green background). Example: Enabled Folder, Bid and Offer on the Market
Here the folder is enabled, the bid and offer are both on the market.
The GL Automate Menus

The Display Menu
Main Control Window
With the Main Control Window function, you can control one or several windows by designating GL Automate as the Main Control Window, and, for example, Market Watch + as the Controlled Window. In this way, via a GL Automate, you can control the following GL Win windows: Instrument summary, Intraday, Historical, Instrument Characteristics, Market Depth. When the active instrument is modied in the main control window, all controlled windows are updated accordingly.
Export Instruments List

Open the Display menu and select Export Instrument List. With this option, you can export all instruments currently in GL Automate, either to Market Watch +, or to a .stk instrument list le in a specied folder. Note
While GL Automate has a maximum of 2000 instruments, the maximum of Market Watch + is 1500. Therefore, if you have over 1500 instruments in GL Automate, only the rst 1500 can be exported to Market Watch +.
Show/Hide Title and Menu

Open the Display menu and select Hide Title and Menu to hide the title and menus in GL Automate. To bring them back, either right-click within the GL Automate window and select Show Title and Menu from the pop-up menu, or press Shift and double-click in the Instrument Data Display.
Show/Hide Button Bar

Open the Display menu and select Hide Button Bar to hide all GL Automate icons in the toolbar. To display the icons again, click inside the GL Automate interface and select Show Button Bar from the contextual menu.
Font
Open the Display menu and select Font to modify the fonts used in GL Automate. You can change the font locally for Folders, Instrument List, or the Scrolling Log, by choosing the appropriate option from the submenu.
Colors
Open the Display menu and select Colors to modify the color and background of windows and highlights certain information. The Color setup window opens:
To modify the color of an item or an event, do the following: 1. 2. 3. In the Item column, click the item or event for which you want to use a specic color. In the Color column, click the color you want to apply for the selected event or item. The color changes next to the item. Click
OK
to conrm.
Note
You cannot modify the default colors for Forced Disable, Disable, Enable and Suspend.
Column Setup
Open the Display menu and select Column setup. In the submenu, select Custom Mode or Operating Mode. This window lists all the columns or elds, and thus information types, that you can display. You can use this feature to specify the columns you want to display in GL Automate. The Select Data Display window opens:
Items appearing in gray are currently not displayed. You can simply click a grayed out item to display it. The available items are described in section Data Displayed in GL Automate (page 24). The features available in this window are identical to those of the Market Watch Data Display Setup window in the Market Watch +, described in detail in the GL Win User Guide. To access the GL Win User Guide, click the General Information icon in the deskbar, then select User Guide Warning
The Default button available in this window re-arranges the columns in their original order, but it does not display the original set of columns.
. Data Displayed in GL Automate In GL Automate, you can display the following columns (listed in alphabetical order):
Broker (BrokerId Name)
The Broker column displays the specic broker or server chosen in Excel, if any. You can have up to four different Trading Servers (SLE) for one marketplace, and you can specify different Trading Servers (SLE) for different instruments and User Ids.
CKey Buy (Clearing Key Buy)
The CKey Buy column displays the Clearing Key for the Buy side that you have specied in Excel. This eld is case sensitive, and if left blank in Excel, the word Default will appear in this eld in GL Automate.

CKey Sell (Clearing Key Sell)
The CKey Sell column displays the Clearing Key for the Sell side that you have specied in Excel. This eld is case sensitive, and if left blank in Excel, the word Default will appear in this eld in GL Automate.
Day Capital (Daily Capital)
The Day Capital column displays the total value of the quantity traded in a session. The Day Capital is calculated by multiplying the price by the quantity.
Day Qty (Daily Quantity)
The Day Qty column displays the total quantity traded in a session.
Explanation Buy (Buy Explanation)
The Explanation Buy column displays an explanation of the current status for a sell order.
Explanation Sell (Sell Explanation)
The Explanation Sell column displays an explanation of the current status for a buy order.
Free Text (Free Text Field)
The Free Text column displays free text, captured from the corresponding column in the Excel spreadsheet.
Input Line (Input Line Number)
The Input Line column displays the number of corresponding input line in the Excel spreadsheet.
Input PriceB (Input Price Buy)
The Input PriceB column displays the buy price you have set up in the Input zone of the Excel spreadsheet.
Input PriceS (Input Price Sell)
The Input PriceS column displays the sell price you have set in the input zone of the Excel spreadsheet.
Input QtyB (Input Quantity Buy)
The Input QtyB column displays the Buy quantity set in the input zone of the Excel spreadsheet.
Input QtyS (Input Quantity Sell)
The Input QtyS column displays the Sell quantity set in the input zone of the Excel spreadsheet.
Name
The Name column displays the instrument's name. This can either be the stock symbol from fra Excel spreadsheet, or it can be the long name of the instrument, depending on your conguration (see section General Options (page 27)).
Nb. Mess. (Number of Messages)
The Nb. Mess. column displays the total number of messages sent for all command (creation, modication, cancellation...).
Pr. (Priority)
The Pr. column displays the priority rank of the line.

Price Buy
The Price Buy column displays the instrument price that you entered in Excel and, in the brackets, the stop price if dened. This price will be different from the Input PriceB if it does not match the market tick size. The price will automatically be rounded to the closest tick size by GL Automate, and this is the price that you will send a trade at. The price is rounded down for buys and
26 Chapter 3. The GL Automate Window rounded up for sells. If you do not want the price to be rounded, deselect the Automatic BUY prices rounding option in the Configuration window (see section Trading Server (SLE) (page 32)).
Price Sell
The Price Sell column displays the instrument price that you entered in Excel and, in the brackets, the stop price (if dened). However, this price will be different from Input PriceS if it does not match the market tick size. The price will automatically be rounded to the closest tick size by GL Automate, and this is the price that you will send a trade at. The price is rounded down for buys and rounded up for sells. If you do not want the price to be rounded, deselect the Automatic SELL prices rounding option in the Configuration window (see section Trading Server (SLE) (page 32)).
Qty Buy (Quantity Buy)
The Qty Buy column displays the quantity you want to be visible in the market on the buy side.
QtyDay Buy (Quantity/Day Buy)
The QtyDay Buy column displays the total executed quantity on the buy-side for a session.
QtyDay Sell (Quantity/Day Sell)
The QtyDay Sell column displays the total executed quantity on the sell-side for a session.
QtyOrder Buy (Quantity/Order Buy)
The QtyOrder Buy column displays the total executed quantity on the buy side for the same order (including quantity increases). Each time a new order is sent (if the previous order is totally executed), this counter is reset.
QtyOrder Sell (Quantity/Order Sell)
The QtyOrder Sell column displays the total executed quantity on the sell side for the same order (including quantity increases). Each time a new order is sent (if the previous order is totally executed), this counter is reset.
QtyPrice Buy (Quantity/Price Buy)
The QtyPrice Buy column displays the total executed quantity on the buy side at the same price, given that the price has not changed. Each time a price moves off this level, the counter is reset to zero.
QtyPrice Sell (Quantity/Price Sell)
The QtyPrice Sell column displays the total executed quantity on the sell side at the same price, given that the price has not changed. Each time a price moves off this level, the counter is reset to zero.
Qty Sell (Quantity Sell)
The Qty Sell column displays the quantity of instruments you want to show to the market on the sell side.
Sel (Selection)
The Sel column displays a red checkmark when an instrument is selected. You can click in this column to select an instrument. When an instrument is selected, you can activate your orders on that instrument.
Stat. Buy Last / Avg (Buy Order Return Statistics)
The Stat. Buy Last / Avg column displays the time taken for the market to reply to your Buy order. The rst gure refers to the last order, the second gure refers to the average. This information is useful for comparing the relative speeds of different exchanges.

Stat. Sell Last / Avg (Sell Order Return Statistics)
The Stat. Sell Last / Avg column displays the time taken for the market to reply to your Sell order. The rst gure refers to the last order, the second gure refers to the average. This information is useful for comparing the relative speeds of different exchanges.
T (Instrument Type)
The T column displays the order type used for the instrument. For example, O for a simple order, or Q for a Quote. For descriptions of each order type, see section Controlling Order Types From Excel (page 45).
Variation Trigger (Trigger Variation)
The Variation Trigger column displays the variation if the trigger with respect to the var min trigger in Percentage. GL Automate does not send any price modications as long as the trigger variation is inferior to 100%.
Configuration
Open the Display menu and select Configuration. The Configuration window opens. In this window, you can modify the default settings of GL Automate. The following sections describe the subsections in the Configuration window.
General Options Open the Display menu and select Configuration. The Configuration window opens, displaying the General Options. The General Options part of the Configuration window contains the following parameters:

Selection by Clicking Anywhere on the Line
If you have many instruments in one spreadsheet, you may want to have the possibility of clicking anywhere on the line to select an instrument. When this setting is activated, you can select an instrument by clicking anywhere on the line. When this setting is deactivated, you can only select an instrument by clicking in the Sel column (a checkmark appears).
Select all Folders and Instruments on Loading
When this setting is activated, all of the folders and instruments referenced by the Excel spreadsheet will be automatically selected once GL Automate is opened and the spreadsheet loaded.
Use Background Color from Default Setup
When this setting is activated, GL Automate will use the color selected in the Trading Defaults window of GL Win (from the deskbar, click Settings, and select Trading Defaults. Click the Display tab). This color will be used as background color for the displayed instruments.
Displayed Instrument Name
You can specify what you want to display as instrument name for the instruments in GL Automate. You can choose one of the following options:
Use Input Symbol Column
Shows the instrument symbol in the Name column.

Use Stock Name
Shows the instrument Stock Name in the Name column.

Use Default Setup Comment Field
Shows the contents from the Comment eld from the Trading Defaults window in the Name column. You can set up the comments for instruments in the Trading Defaults window: From the deskbar, click Settings, and select Trading Defaults. Click the Display tab. Logs Open the Display menu and select Configuration. The Configuration window opens. Select Logs in the navigation pane to the left. There are two levels of parameters in the Logs section, described below. Scrolling Ticker Select Scrolling Ticker in the navigation tree view in the Configuration window. The scrolling ticker parameters are displayed:
The depth of the log information, both written to the log le and displayed in the Scrolling Ticker, can be congured. You can set up the log levels to use:
Excel Excel related log les and messages. Choose the level from the drop-down list: All Warning & Errors Errors only SLE
Trading Server (SLE) related log les and messages. Choose the level from the drop-down list:
All Warning & Errors Errors only SLC
Market Data Server (SLC) related log les and messages. Choose the level from the drop-down list:
All Warning & Errors Errors only

Automate
GL Automate-related log les and messages. Choose the level from the drop-down list:
All Warning & Errors Errors only Input
Input-related log les and messages. Choose the level from the drop-down list:
All Warning & Errors Errors only
You can set up the Maximum Number of Log Lines. This parameter denes the log limit. You can specify a number of Characters/Line in the logs. In the Log Level Font Colors section you can specify the colors to use for the different log level. Logs - Files Select Logs - Files in the navigation tree view in the Configuration window. The log le parameters are displayed:
Chapter 3. The GL Automate Window 31 GL Automate log les are automatically written to the default location (the Log subfolder in the GL Win installation folder. The log les are archived as AUTOmmdd.TXT (mmdd corresponds to the month and the date). You can specify the Number of Log files Kept. You can enter a value between 1 and 99 (logs can be kept from 1 to 99 days). The logs can be consulted directly from GL Automate by clicking the
Open folder
button.
In the Trace Level zone, you can choose either Normal mode or Diagnostic mode. Select Diagnostic mode only when you have encountered a problem and want to reproduce it in order to send SunGard Global Trading a complete record of it. Do not select Diagnostic mode as a default setting, since it considerably decreases performance. The log les settings apply globally to all Trading Servers (SLE). It is not possible to specify different log levels for different Trading Servers (SLE). Sound Settings Open the Display menu and select Configuration. The Configuration window opens. Select Sound Settings in the navigation pane to the left. GL Automate can be congured to produce audible alerts, thereby allowing greater freedom than relying solely on the visual indicators in the interface. If the bleeps indicating a modication increase, this is a clear audible indication of increased activity. GL Automate uses .wav les, and a sound can be chosen for each of the following events: New Order Order Modication Order Cancellation Order Execution Order Rejection Order Acknowledgement Instrument Forced Disable Instrument forced Suspend Problem in EXCEL
Excel/API
Open the Display menu and select Configuration. The Configuration window opens. Select Excel/API in the navigation pane to the left. The following Excel and API Link settings can be congured:
EXCEL Timeout (in seconds)
GL Automate passively receives information from Excel, and does not search for it. For this reason, GL Automate has no control over the functioning of Excel, and any failure by Excel to send messages to GL Automate can therefore have potentially costly results for you. One solution to this problem is to write a macro in Excel that changes a value at a chosen frequency. This could be placed in a eld not currently used, such as the Trigger eld, and could post 1 and 0 every second, with the Change Pasted columns section set to 3 seconds. This will then ensure that any
32 Chapter 3. The GL Automate Window fault in Excel is immediately discovered, thus avoiding any problems. In the Configuration window, the time out functions are separated in two parameters: 1. No Price Change Detected (PriceB & PriceS columns). If nothing changes in the price columns in Excel after n seconds (any gure between 1 and 9999 seconds), GL Automate assumes the global disable state, thus canceling all orders. A visual and audible alert warns when the time out is activated. If you do not want to use this security, set the value to 0. 2. No Data Change Detected (entire INPUT zone). This works on the same principle, but refers to movement within any of the Input Zone columns in Excel. Time out functions can be modied in real time without the need to close and reopen GL Automate.
Price Decimal Separator
You can use this to choose whether to use a comma or a full-stop as the Excel/GL Automate default separator.
Excel Connection at Startup
Tick this button to automatically link to an Excel spreadsheet each time GL Automate is launched. Choose one of these options : None. Choose this to turn the Excel Connection at Startup. GL Automate looks for open spreadsheets upon loading.
Auto Detect.
Auto Connection to a specic spreadsheet. You can use this to choose a specic spreadsheet to connect to upon startup. Click on the Select button then select the default spreadsheet from the Excel Selection window. The next time you launch GL Automate, the selected spreadsheet will automatically be linked. Note
Your default spreadsheet must be open both during this operation, and the next time you launch GL Automate. User API
GL Automate offers a new API connection to any C/C++ application through the OpenGLWIN API. Enter the number of seconds' delay between every Heartbeat detection, or enter Off. Note
An OpenGLWIN license is required in order to use this enhancement. Refer to the latest version of the OpenGLWIN document for more information on this feature.
Trading Server (SLE) The following Trading Server (SLE) related parameters can be modied in the Configurationwindow.
Automatic BUY price rounding/Automatic SELL price rounding
These options either activates the rounding functions or deactivates them, thus relying on you to enter the exact price in the Excel/GL Automate control table. This gives you the freedom and responsibility, if desired, to manage tick sizes in Excel. Selecting price-rounding ensures that the application adjusts the price you entered in Excel to a price acceptable to the market. If you select price-rounding, GL Automate takes the value entered in the Excel price eld and rounds the value either up or down to the nearest tick size; by default GL Automate rounds down for bids and up for offers.
Chapter 3. The GL Automate Window 33 Note

Changing the price rounding options after having already sent orders to the market will not modify these existing orders. Changing the settings for price rounding will affect new prices coming in and/or changes to the existing prices. Automatic Quantity Rounding .
Provides similar functionality to the price rounding, and can be activated in order to round quantities down. Prevent Self Matching. Forces the GL Automate to check that it does not trade with itself when sending orders. This may happen if your buy and sell prices are the same or if the sell price is less than the buy. Selecting this option prevents this from happening.
Disable Price Control If Trigger Control Is Active .
If a trigger control is active, you can set up GL Automate to disable Price Control. If you tick this box and the Price Control is active, this will not disable the instrument IF the following conditions are met: The Variation Trigger equals or exceeds 0% AND is less than 100%.
Number of Retries after SLE Rejection .
This option can either be turned OFF, or specied from 0 to 999. This refers to the number of orders you want to send to the market even after previous orders have been rejected. This can be useful, for example, to place orders on time for the market opening.
Order Flow Control
Checks the rate of orders sent. This check is performed according to two parameters: 1. The rst parameter species the number of orders to be sent within a set time. 2. The second parameter species the number of seconds within which to send the orders. It is advisable to regulate GL Automate to the point of contention between GL Automate and the exchange. Restricting the order ow creates an order queue in GL Automate; this queue can be controlled with the Excel Priority column. For more information about the Priority column, refer to section Input and Output Zones (page 8).
Mass Orders Triggers
Permits you to send several orders on the market in one message batch. These batch order functions are used on Option and Future contracts. When set to zero, the trigger is not activated, and if all triggers are set to zero, GL Automate sends all the orders immediately to the market as normal. Mass Orders must also be denoted by specifying MO in the Excel Order Type column. Note
Not all exchanges support mass orders. It is imperative that you check if the exchange copes with them before attempting to send a mass order.
Example: Trigger 1 - Pause delay (1/10 sec) Denes the waiting time between the orders you place in the waiting list. If this time is exceeded, the order batch is sent. For example, if you type 5 in the box, GL Automate waits for a pause of 0.5 seconds in order modications sent to the waiting list. If this pause is exceeded, the batch is sent. The gure below shows how the Pause delay functionality works.
Unit = tenths of a second Default value = 5 (0.5 seconds) Minimum value = 0 (Off), Maximum value = 99999 Timer trigger : Each time an order is placed in the waiting list Restriction : must be inferior to Trigger 2 Example: Trigger 2 - Maximum delay (1/10 sec) Denes the maximum delay before an update is sent to the market, and compliments Trigger 1. If there are continual order modications arriving in the waiting list, Trigger 1 risks never being activated. Trigger 2 allocates a maximum time between sending batches and thus overcomes the issue. The gure below shows how the Maximum delay functionality works.
Unit = tenths of a second Default value = 50 (5 seconds) Minimum value = 0 (Off), Maximum value = 99999 Timer trigger : the rst time an order is placed in the waiting list Restriction : must be superior to Trigger 1 Example: Trigger 3 - Nb maximum orders Denes the maximum number of orders or modications that you can send to the Trading Server (SLE) in one batch message. This is designed to encourage GL Automate to send more frequent batches when the market is very busy and there are a large number of changes. Higher volatility may require faster changes and more frequent batches that would not be covered by the two time orientated' triggers. Unit = number of orders Default value = 15 Minimum value = 0 (Off), Maximum value = 99999 Counter reset : when the rst order is placed in the waiting list The counter increases for new orders and order modications

Ignore Instrument Market Suspension
This section can be used to make GL Automate ignore the suspension indicator values you specify in the Ignored Values eld. A market suspension indicator with one of the values specied, will not force GL Automate to instrument suspended status if this section is enabled. Leaving the Ignored Values eld empty makes GL Automate ignore all instrument market suspension indicators. Each value or letter must be separated by a semi-colon (;). The table below shows an example of the values for the Suspension Indicator on Euronext. First Byte H B S P R G Second Byte Description Upward reserved Downward reserved Suspended Simple reservation Resumption of quoted value on reservation Frozen Resume quotation
Exit Application
Exits the GL Automate window.
The Folders Menu

For instructions on how to organize groupings of instruments using GL Automate's Folder feature, see section Using Folders in GL Automate (page 18).
[X] Selected Folders

Indicates the number of folders which you have selected in GL Automate.
Enable
Use this function to activate your order data in the Instrument data display (see The Instrument Data Display (page 16)). This is a folder enable which puts the window into a trading active mode, but to commence trading, you also need to select the instrument's Enable Buy and/or Enable Sell. Buy and sell orders may be sent or modied at any time when in this mode. Note
Folders, quotes and individual instruments, can also be enabled in the Excel spreadsheet by typing enable in the CmdStatusBS column (for folders and quotes), or in the CmdStatusS or CmdStatusB columns for ordinary orders.
Suspend
Use this Suspend function to suspend all of the current orders you have in operation. In this state, no new orders are sent on the market. However, orders that are already on the book are not cancelled, and stay on the market until they are fullled. In suspend mode, modifying the quantity of an instrument is not possible, although it is possible to modify the price.
36 Chapter 3. The GL Automate Window Note

Folders, quotes and individual instruments, can also be suspended in the Excel spreadsheet by typing suspend in the CmdStatusBS column (for folders and quotes), or in the CmdStatusS or CmdStatusB columns for ordinary orders.
Disable
Disables instruments in the currently selected folder(s) in the tree view.
Disable GL Automate
The GL Automate"Panic Button" which disables all instruments. When the GL Automate is in disabled state, no orders are sent on the market, and any orders in the book are cancelled.
The Instruments Menu

Enable Buy
Use this instrument state function to activate trading for the Buy side of your order data. Before trading can begin you also need to activate the enable folder.
Suspend Buy
Use this specic state function to deactivate trading for the Buy side of your order data. In this state, no new orders are sent on the market. However, orders that are already on the book are not cancelled, and stay on the market until they are lled. In suspend mode, modifying the quantity of an instrument is not possible, although it is possible to modify the price. Note
Disable Buy
Use this specic state function to deactivate trading for the Buy side of your order data.
Enable Sell
Use this instrument state function to activate trading for the Sell side of your order data. Before trading can begin, you also need to activate the folder enable. Note
Suspend Sell
Use this specic state function to deactivate trading for the Sell side of your order data. In this state, no new orders are sent on the market. However, orders that are already on the book are not cancelled, and stay on the market until they are fullled. In suspend mode, modifying the quantity of an instrument is not possible, although it is possible to modify the price. Note
Disable Sell
Use this specic state function to deactivate trading for the Sell side of your order data.
Enable Buy & Sell

Use this instrument state function to activate trading for both the Buy and Sell sides of your order data. Before trading can begin you also need to activate the folder enable. Note
Suspend Buy & Sell

Use this instrument state function to deactivate trading for both the Buy and Sell sides of your order data. In this state, no new orders are sent on the market. However, orders that are already on the book are not cancelled, and stay on the market until they are fullled. Note
Disable Buy & Sell

Use this instrument state function to deactivate trading for both the Buy and Sell sides of your order data. Note
Folders, quotes and individual instruments, can also be disabled in the Excel spreadsheet by typing disable in the CmdStatusBS column (for folders and quotes), or in the CmdStatusS or CmdStatusB columns for ordinary orders.
The GL Automate Icons

The icons provide immediate use of the main GL Automate functions, such as buying and selling functions, importing the Excel spreadsheet etc.
Folder Icons
The Folder icons are as follows:
For information about working with the GL Automate folders in the Tree View,see section Using Folders in GL Automate (page 18). In order to adjust the status of any folder, the folder itself must be selected. To select a folder, check the empty box beside it in the GL Automate Tree View. Multiple folders can be selected or deselected at the same time, by the standard Windows functions of holding down the Shift key to select a range, or using the CTRL key to select individual folders. Note that just because a folder is highlighted for viewing, this does not mean that it has been selected for status changing. In the picture below, only the folders LFI and LFM have been selected.
Note
Clicking on a folder will display its contents in the Instrument Data Display, but the folder can only be selected by checking the box beside it as described above.
After selecting a folder, the folder status can be adjusted either by clicking one of the icons described below, or by right-clicking on the folder icon itself and selecting an option from the pop-up menu. A folder may have one of the following three values:
Enable Folder
The Enable display state is green and is the normal operating mode for the system. It manages each identier according to its particular state.
Suspend Folder
The Suspend display state is yellow. In this state, no new orders are sent on the market. However, orders that are already on the book are not cancelled. During a Suspend, you can modify the price, but not the quantity.
Disable Folder
When the folder is disabled, no orders are sent on the market, and any orders in the book are cancelled. Two other options are available in this section:
Disable GL Automate (Panic Button)
This button can be used to cancel all orders, in case of emergency. When the GL Automate is in disabled state, no orders are sent on the market, and any orders in the book are cancelled. To reenable GL Automate, the folders must be selected and enabled again.
Select/Deselect all Folders
To select all folders in the Tree View, click on the plus sign +. To deselect all folders in the Tree View, click on the minus sign -.
Buy Icons
The Buy icons are as follows:
Enable, suspend or disable only those instruments which you have selected on the Buy side in GL Automate.
Sell Icons
The Sell icons are as follows:
Enable, suspend or disable only those instruments which you have selected on the Sell side in GL Automate.
Buy and Sell Icons

The Buy and Sell icons are as follows:
Enable, suspend or disable only those instruments which you have selected on both the Buy and Sell sides in GL Automate. Note
When GL Automate is in Quote mode (Q has been specied in the Excel Order Type column), selecting the individual Buy and Sell options is impossible. In this case, only the Buy and Sell icons are activated.
Settings Icons
The Settings icons are as follows:
40 Chapter 3. The GL Automate Window The two Excel Interaction icons relate to the interaction between GL Automate and Excel. Use these icons to transfer setup information between the two programs.
Activate/deactivate Excel link
Click on this icon after you have completed your Excel control table. An Excel Selection dialog box opens, from which you can select a currently open spreadsheet. The information is pasted into the GL Automate window, and a dynamic link is created. Note
All Excel cells must be closed by hitting the Enter Key, or GL Automate will not detect the Input and Output zones. There can be no unnished formulae in the Excel spreadsheet.
Copy to Excel
Click on this icon to copy the GL Automate column headings into a clipboard, from where you can then paste it to an Excel spreadsheet. This provides all the possible headings available, although not all are mandatory. Also, they do not need to be used in a particular order.
Customize GL Automate Settings
Displays the GL Automate Conguration window.
Select/Deselect All Instruments
Click on the + (plus) sign to select all instruments. Click on the - (minus) sign to deselect all instruments.
Columns Icons
The columns section is the following:
Clicking the + (plus) sign on the Columns section displays the Select Data Display setup window. These columns correspond to the columns in the Excel control table (see section Input and Output Zones (page 8)). The columns in both GL Automate and Excel can be moved around to suit personal preference. Select the elds you want to display in the GL Automate Instrument data display. Certain elds are mandatory. Double-clicking an instrument heading also moves between the All, Custom, and Operating modes. For explanations of these modes, see the section Column Setup (page 23).
Chapter 4 Using GL Automate

This chapter describes the principal functions of the GL Automate application.
Table of Contents
Adjusting Columns in GL Automate ................................................................................ 42 Managing All Open Windows ......................................................................................... 42 Changing/Adding an Instrument ...................................................................................... 42 Instrument Status ......................................................................................................... 43 Controlling Order Types From Excel ................................................................................ 45 Repeating Instruments ................................................................................................... 46 Price Control ............................................................................................................... 46 Prioritizing Your Orders ................................................................................................. 46 Sending Different Order Types and Market Specics ........................................................... 47 Stock Labelling ............................................................................................................ 48 Tracing Problems With the GL Automate Logs ................................................................... 49 Trading for Several Clients ............................................................................................. 49 Triggers ...................................................................................................................... 49 Clearing Keys .............................................................................................................. 50 GL Automate Tooltips ................................................................................................... 51 One-Shot and Iceberg Orders .......................................................................................... 53 Request For Quotes ...................................................................................................... 54
42 Chapter 4. Using GL Automate
Adjusting Columns in GL Automate

Double-clicking on the title row of any instrument in the Instrument Data Display will automatically change the view to the All mode, Custom mode or Operating mode, depending on which mode it is currently in. These columns correspond to the columns in the Excel Control Table. The columns in both GL Automate and Excel can be moved around to suit personal preference. The columns displayed can also be chosen by going to the Delete menu and choosing the option Select Data Display > Custom Mode or Operating Mode. Alternatively, select one of the buttons ( All , Custom , Operating ) from the Columns icons. Button
+
Description Displays the Select Data Display dialog, enabling you to select which columns will be displayed in the GL Automate session. Displays all existing columns in GL Automate. There is no customization possible if this option is selected. Displays your customized view as selected with the Select Data Display dialog. Displays a pared-down Operating view, enabling uncluttered at-aglance instrument management (the Operating view is also fully customizable).
(Plus sign)
All
Custom
Operating
Managing All Open Windows

Trading with GL Automate requires several windows to be displayed at the same time (GL Automate, an Excel spreadsheet, the Trading Workstation...) in addition to your usual desktop. To work with this set up, you may open up to four virtual windows, or use a multiple screen video card and dispatch information on up to 4 physical screens. Virtual screens To use multiple screen display, select a second, third and fourth virtual screen in the Deskbar and open windows as normal: Bird's Eye View To view the conguration on each screen simultaneously, click the icon Birds Eye View, also found in the Deskbar: .
Changing/Adding an Instrument
As long as an Input Zone has been dened, instruments can be added to the Excel spreadsheet as and when required. GL Automate will be updated automatically thanks to the dynamic link between the two programs. An instrument can be added to Excel by simply typing the instrument name in the instrument Symbol eld. You must type the symbol in capital letters, or you can drag and paste the Symbol, ISIN or Stock Code required from the Market Watch window.
Chapter 4. Using GL Automate 43 Ensure that the instrument is selected, then select the folder enable and the individual instrument enable(s) to (re)commence trading. Note
Changes to price and quantity in Excel can be done automatically and there is no need to rst suspend or disable GL Automate, or deactivate the link between GL Automate and Excel.
Instrument Status
In GL Automate, instrument status can be assigned to an individual instrument both through the Excel spreadsheet and through the interface. In general, if a status (enable, disable, suspend) has been entered in the Excel CmdStatusB or CmdStatusS cell, this will usually override a status which is changed in the interface. Note that since an instruments status depends upon the status of the folder which contains it, the folder status cell CmdStatusBS must be enabled before an instrument contained within it can be enabled. Similarly, if the CmdStatusBS cell is disabled, all instruments within that folder are disabled, even if their individual status is enabled. You can dene a status for each instrument on each side (Buy or Sell). The specic status can be adjusted either by selecting an instrument and choosing from the button bar, or by right-clicking on a line in GL Automate and selecting an option from the pop-up menu. The specic state may be one of the following: Enable Disable Suspend To assign a specic instrument state, click on the Sel (select) column to display a tick. Usual windows conventions apply here (Shift for extending the selection, Ctrl for discontinuous selection). After, you need to select a specic state. To select an entire group of instruments within a folder, double-click on the Sel column.
The Instrument States

Enable Buy. Use this function to activate trading for the Buy side of your order data. Before trading can begin you also need to enable the folder. Disable Buy. Use this function to deactivate trading for the Buy side of your order data.
Suspend Buy. Use this function to deactivate trading for the Buy side of your order data. No new orders are sent to the market, but any existing orders are left on the market until they are completed. In suspend mode, prices are modiable but not quantities. Enable Sell. Use this specic state function to activate trading for the Sell side of your order data. Before trading can begin, you also need to activate the folder enable. Disable Sell. data. Use this specic state function to deactivate trading for the Sell side of your order
Suspend Sell. Use this specic state function to deactivate trading for the Sell side of your order data. No new orders are sent to the market, but any existing orders are left on the market until they are completed. In suspend mode, prices are modiable but not quantities.
44 Chapter 4. Using GL Automate Typing enable in the CmdStatusB column in Excel will automatically enable the appropriate instrument on the buy side. Likewise, typing disable will disable the instrument. In the table below, Display status shows the status that currently exists in GL Automate, and Command status shows the desired status by Excel. Table: Current Status Symbol Folder Command status Display status :E2YH2 Calls :E2YM2 Calls Calls Note
An instrument which has been enabled in the Excel spreadsheet can be disabled from the GL Automate interface. However, if an instrument has been disabled in Excel, it cannot be re-enabled from the GL Automate interface.
Enable Enable Suspend
Enabled Fdisabled Mdisabled
A forced disable can occur if the max quantity has been reached for the day, or because of a timeout etc. If the GL Automate is in forced disabled (Fdisabled) status and the command status is Enable then the GL Automate will remain in forced disabled status. There are two possibilities to get out of a forced disabled mode: Manually restart the instrument from the GL Automate interface. Restart the instrument via the Excel spreadsheet, rst changing it to disable (to exit the forced disable), then type enable to enable the instrument. All the possible status types are shown in Status Types and Possible Causes (page 44). Table: Status Types and Possible Causes Status Forced Disable Description Possible Cause(s)
The status forced by GL MaxQtyDay,MaxQtyPrice,MaxQtyOrd Automate reached;exceed waiting time. When you are in FDisable status, change the status to disable in the Excel spreadsheet, then to enable. Note that it is impossible to go immediately from FDisable to enabled. The status obtained by manual intervention The status selected by
Excel
Manual Disable Disable Forced suspend Suspend Enable
Manual intervention by the user. Status entered in Excel.
The status forced by GL Trading Server (SLE) disconnected. Automate The status selected by
Excel
Status entered in Excel. Status entered in Excel.
Instrument Status Color Schemes

The instrument status is represented by the following color scheme: Green is Enabled
Chapter 4. Using GL Automate 45 Background is Disabled Yellow is Suspended
In this example the bid is suspended (yellow), the offer is enabled (green) but the folder is disabled (background color). The offer is enabled but not on the market as the folder is disabled. Enabling the folder (from Excel or manually in the GUI) will send the offer only to the market.
Here the offer is suspended (yellow) but the folder has been enabled (green).The bid is not on the market, the offer is on the market but is suspended (the price can be changed but not the quantity).
In this example the bid and offer are both enabled (green colour).
Here the folder is enabled, the bid and offer are both on the market.
Controlling Order Types From Excel

Order Types can be chosen in Excel, by entering the specic code in the OrderType column. Use one of the order types shown in Order Types Codes to send the corresponding order. Note
When the order type specied in the Excel Order Type column cannot be sent (that is, the market does not support that market type), GL Automate will immediately go to Forced Disable.
Table: Order Types Codes Code O FQ Simple Order Fast Quote. With Fast Quotes, the workow is different: It is not necessary to wait for acknowledgement before sending updates (e.g. price modications). Important
Fast Quotes are not visible in the Order Book. Fast Quotes are incompatible with Mass Quotes: A Trading Server (SLE) can manage either FQ or MQ, not both (if you try to send a quote type that is not supported, the quote is rejected).
Description
46 Chapter 4. Using GL Automate Code Q MO MQ Mass Order Mass Quote. Important

Mass Quotes are incompatible with Fast Quotes: A Trading Server (SLE) can manage either FQ or MQ, not both (if you try to send a quote type that is not supported, the quote is rejected).
Description Quote. Lets GL Automate handle the quote type, single or double
M Note
Price Display/Publication
Quotes are different for each market. Q and MQ are the default quote types. When appropriate, GL Automate classies Q and MQ quotes as Q1, Q2, MQ1, MQ2.
Repeating Instruments
One particular instrument can be repeated in GL Automate as often as is required, by editing the appropriate cell in the Tag column of the Excel spreadsheet. Each different instance of the instrument can be allocated an individual code in order to differentiate it from the otherwise identical instruments in the same location. This feature is of particular use in the following cases: If you need to create market depth If you are organizing different trading systems for different clients, but in the same instrument If you wish to maintain a quote in the market but need to widen your quote when hit or lifted in a large quantity To repeat multiple instances of the same instrument, simply copy the instruments into the Excel spreadsheet as usual, and add a denition in the Tag column in order to differentiate the new instances of the instrument.
Price Control
In order to protect against strong price movements and thus potential arbitrage, the Excel spreadsheet can be congured to block any instrument in the case of a dramatic move in the market. This can be done by entering a limit in the Price Control column in Excel. If the price in the bid or offer elds in Excel moves by more than the number specied in this eld,GL Automate will automatically disable the relevant bid or offer.
Prioritizing Your Orders

GL Automate allows the possibility to prioritize orders in the eventuality that the order ow control is operating. To assign a priority, type HIGH, NORMAL or LOW in the Excel spreadsheet Priority
Chapter 4. Using GL Automate 47 column. Priority can be given to either the orders of certain instruments or to types of orders, such as cancellations. If an order ow control is being used, GL Automate cancels orders of specied instruments, rather than changing the price of others. In the Excel Priority column, enter a plus sign + for the most important stocks. Enter a minus sign for the least important. In case of a block in the order ow, the orders with a plus sign before them will be dealt with rst. The system deals with orders which haven't yet been dealt with, in the following order: 1. Cancellation of HIGH priority orders. 2. Cancellation of NORMAL priority orders. 3. Cancellation of LOW priority orders. 4. Sending of a new order with HIGH priority. 5. Sending of an order modication with HIGH priority. 6. Sending of a new order with NORMAL priority. 7. Sending of an order modication with NORMAL priority. 8. Sending of a new order with LOW priority. 9. Sending of a modication with LOW priority.
Sending Different Order Types and Market Specifics

Certain markets are either restricted or blocked from using GL Automate due to the compulsory requirements of different order types. Equally Fill Or Kill is a useful tool for arbitrage. The Specifics column provides the possibility to make GL Automate generic for all markets. A brief code is entered in the cell to represent specic market anomalies; you can enter any order type or market specic which exists for that market, in the form of a chain of keywords. See Possible Codes (page 47) for the codes that can be used. Table: Possible Codes Code ANONYMOUS ODDLOT PRICEWARN PRICECTRL NEGOPHASE VALIDITY Description Allows to send anonymous orders Allows to send odd lot orders Price Warning Price Control Negotiation Phase (For markets that allow specifying the nego phase) Parameters Possible Y (Yes), N (No) Y (Yes), N (No) Y (Yes), N (No), S (Severe) Y, N Input the letter associated with the Nego Phase
Validity - allows FOK, LPO and LOC orders FOK (Fill Or Kill), PreOpen to be sent. (Limit Pre-Open), OnClose (Limit On Close) Client Ref Memo Nature Order Type As with GL Win Entry Box As with GL Win Entry Box ELO, SLO, Default
CLREF MEMO NATURE
48 Chapter 4. Using GL Automate Code SECUREMODIF Description Activate a secure link between the Trading Server (SLE) and the market control (if the market manages secured operations). Y Parameters Possible
ORIGIN QUOTETYPE
Useful when there is no Clearing Key, for ex- A (Agency), P (Principle) ample NYSE. For market makers on quote-driven exchanges. M (Price Display/Publication), F (sends rm quote instead of indicative, used with the M order type). AFFARI Market-specic. Check in the F5 window which letter should be used. Directs orders towards the ECN specied. S [Selected ECN]
SPECIALIST TargetECN ShortSell
Noties the exchange when sending a Default, ShortSell, ShortSell ShortSell order, which is mandatory for several exempt. exchanges. The value to be entered depends on the exchange. For more information on the appropriate value for a given exchange, refer to the corresponding API documentation. Valid sub-account IDs.
SUBACCT, Used to specify the sub-account that is used CLEARINGACCT, to trade a specic order. ALLOCRECEPTOR Note
To determine the sub-account code used for your exchange, contact your SunGard Global Trading representatives.
The actual code entered in the cell could look like the following example:
PriceWarn=S; Validity=FOK; Clref=Oddone
In this case, the following information would be sent for this instrument; a Fill Or Kill order with the Severe price warning ag for the client ref Oddone. It is possible to stock a list of commonly used specics in Excel and then refer to the table when required.
Stock Labelling
Due to the fact that some instrument names are impractical in everyday use (for example, warrants are often named by a number), the Free Text eld in GL Automate allows you to name instruments in a more user-friendly way. The Free Text eld can be used either to rename an instrument, or to establish an RTD link (for example, to display a volatility). GL Automate can also adopt the comment eld from the Trading default set. The colors from the Trading default are applicable. The Trading setup default focus can be activated and deactivated from the Conguration dialog. It is possible to choose whether to use the symbol name or the Instrument name, from the Conguration dialog.
Chapter 4. Using GL Automate 49
Tracing Problems With the GL Automate Logs

GL Automate log les are automatically written to the default le AUTOmmdd.TXT (mmdd corresponds to the month and the date) in the default GL Win folder. The information can be retrieved from the three levels of log les which GL Automate produces: use the following table to discern which level the information you need will be contained in. Type Excel information retrieved by GL Automate Information about orders sent to the market Information about the status and changes of status by GL Automate Choice Choose Normal or Diagnostic level Choose Normal or Diagnostic level Choose Normal or Diagnostic level
You can choose and congure these settings in the Configuration window, and they apply globally to all Trading Servers (SLE). It is not possible to specify different log levels for different Trading Servers (SLE). Logs can be kept from 1 to 99 days.
Trading for Several Clients

When using GL Automate, you can trade for an unlimited number of clients at the same time, and can also trade for different clients on the buy and sell parts of trading. Another feature of GL Automate is that you can trade identical instruments at the same time for the same client, in any quantity, by editing the Tag column (in Excel) to personalise the instrument (see the section Repeating Instruments).
Triggers
Triggers are a kind of buffer which ensure that GL Automate does not send price modications of existing orders unless the underlying (Trigger) moves more than a predened amount (VarMinTrigger). The Trigger and VarMinTrigger columns work together to avoid price modication if the price change of another instrument is inferior to the VarMinTrigger specied value. It is typically useful for options. For example, if you have to send orders on an option and do not want to update your bid and ask unless the underlying price changes more than 10, paste a dynamic link with the underlying price in the Trigger column and enter '10' in the VarMinTrigger column. The pre-dened amount in the VarMinTrigger can be as low as 0.0000001 which makes it especially useful for Italian Warrants for example. The GL Automate interface displays the trigger progress graphically. The trigger functionality works in the following manner: 1. Specify a trigger (RTD link for example) in Excels input zone Trigger column. 2. Specify the minimum variation for the trigger to have, before sending a price modication (in the VarMinTrigger column). 3. GL Automate does not send any price modications as long as the trigger has not moved by the minimum amount specied in the excel spreadsheet.
50 Chapter 4. Using GL Automate 4. The Variation trigger column displays the variation of the trigger with respect to the var min trigger. See Variation Trigger (page 50). Example: Variation Trigger The Excel: trigger value is 50, and the var min trigger is 10. If the trigger becomes 55 since this is a variation of 5, that is, 50% of the var min trigger, 50% is displayed in the variation trigger column of the GL Automate. If the trigger then becomes 59 since this is a variation of 9 with respect to the initial trigger value (50), that is 90% of the var min trigger, 90% is displayed in the variation trigger column of the GL Automate. If the trigger becomes 60 since this is a variation of 10 with respect to the initial trigger value (50), ie 100% of the var min trigger, GL Automate sends the price modication and displays 0%. This is because now the trigger reference value is 60 and the var min trigger is still 10 (unless you change the varmintrigger value).
Clearing Keys
Using GL Automate, you can set clearing information when trading, dening the default clearing information in the Clearing Keys Set Up window. It is also possible to select different clearing information for both the buy and sell part of trading.
Choosing your Clearing Key

In the columns CkeyBuy and CkeySell in Excel, simply key in the name of the clearing key that is required on the Buy side and on the Sell side respectively. If you have a clearing key named ABC, and you type ABC in a clearing key column, GL Automate will nd and use the clearing key ABC. Note
This function is case-sensitive.
Choosing your Buy or Sell Clearing Key

It is possible to select two different clearing keys for the same instrument, one for Buy and one for Sell. Simply type the clearing key name you are using in each eld (CKeyBuy/CKeySell). If no name is in the cell, the default is applied and the word Default appears in the GL Automate interface.
General Clearing Key Usage Notes

The following are general usage notes: Clearing keys are case sensitive. The columns in Excel can be in any order. As long as the headings are correct, GL Automate will nd the column.
Chapter 4. Using GL Automate 51 When using the Quote Sending function, GL Automate must use the same clearing key for both Buy and Sell sides.
GL Automate Tooltips
Holding the left mouse button in one of the instrument columns can provide a helpful tooltip concerning the current status of the relevant instrument. To nd out if a tooltip can be displayed for a particular column, hold the mouse pointer over it. If the pointer icon turns into a hand, a tooltip can be displayed by holding down the left mouse button. For example, holding the left mouse button over the Brokerid column will display the available Trading Server (SLE) for that instrument. Holding the left mouse button over an instrument's QtyBuy cell displays information for the instrument's buy side, such as the instrument's state, buy price, order reference etc. The most recent messages relating to the appropriate instrument will also be highlighted in the Scrolling Ticker view. Example: Tooltip for an Instrument
This screenshot shows a tooltip for the instrument LI;M03, which has been displayed by pressing the left mouse button over the instrument's QtyBuy cell.
Possible Tooltips
A list of possible tooltips that might appear when using GL Automate is presented in the following table. Column Name Symbol ISIN Code Code Name Place Market Broker QtyDayBuy QtyPriceBuy StatBuyLast/Avg Available Trading Servers (SLE) for Instrument Executed Qty Maximum Qty Executed Qty Maximum Qty Trading Server (SLE) Answer Delay Information Displayed
52 Chapter 4. Using GL Automate Column Last Order Average Delay Messages Input QtyB Input Qty Rounded Qty Quantity Input PriceB Input Price (Stop Price Buy) Rounded Price Tick Size Qty Buy (Instrument Name) State Type Rem. Qty Price (Stop Price Buy) Exec Qty Order Ref Price Buy Price Buy (Instrument Name) State Type Rem. Qty Price (Stop Price Buy) Exec Qty Order Ref Price Buy Price Sell (Instrument Name) State Type Rem. Qty Price (Stop Price Buy) Exec. Qty Order Ref Price Buy Qty Sell (Instrument Name) State Type Rem. Qty Price (Stop Price Buy) Exec. Qty Order Ref Price Buy Information Displayed
Chapter 4. Using GL Automate 53 Column Input PriceS Information Displayed Input Price (Stop Price Sell) Rounded Price Tick Size Input QtyS Input Qty Rounded Qty Quantity Stat Sell Last/Avg Trading Server (SLE) Answer Delay Last Order Average Delay Messages Qty Price Sell Qty Day Sell Executed Qty Maximum Qty Executed Qty Maximum Qty
One-Shot and Iceberg Orders

Sending a One-Shot Order
GL Automate can be used to send a single order without the need to replace the quantity remaining in the market after a partial or total execution. There are three methods for sending a one-shot order: 1. The max quantity day can be lled in as the limit order quantity. When the single order is executed GL Automate passes to a forced disable status. The next order requires either manual intervention to re-enable or for the CmdStatusB or CmdStatusS in Excel to pass from Enable to Disable and then back to Enable. 2. Choose the suspend status. Enable an order, then immediately suspend the order from the GL Automate interface to restart the next one-shot. GL Automate will continue sending until the order quantity has been fullled. 3. Alternatively you can add an asterisk * after the quantity in max QtyPrice or MaxQtyDay. See Adding an Asterisk after the quantity (page 53). Example: Adding an Asterisk after the quantity Symbol MaxQtyDayB MaxQtyPriceB QtyB PriceB LZ;M04 50* 50 5323
In this example GL Automate will send a bid to the market of 10 lots at the price of 5323. The order that GL Automate is following is the order to Buy 50 lots at the price of 5323, and showing a quantity of 50 to the market. When total execution is reached, instead of going into a Forced disable status the instrument will remain enabled but will send no more orders to the market until the MaxQtyDay is increased. If the star is used again then the process will repeat.
54 Chapter 4. Using GL Automate It is recommended that: The concatenate function of Excel is used to add the asterisk. The quantity required is added into a different cell. The quantity required is added automatically to the OutQtyDayB Note
Adding an Asterisk after the quantity (page 53) is also possible with the maxQtyPrice eld.
Sending an Iceberg Order

The GL Automate interface enables you to send exchange specic Iceberg orders. To send an Iceberg order, type the quantity you wish to be displayed on the market in the DispQtyB and DispQtyS columns in the Excel spreadsheet. The Iceberg order will then be made up of the actual quantity (QtyB or QtyS columns) and the displayed quantity. When you are using the Iceberg order functionality, the GL Automate interface displays the Iceberg quantity in parentheses.
Request For Quotes

The GL Automate responds to Requests For Quote (RFQ) automatically. A GLLINKS ag generates an enable or disable signal. Signals included in an RFQ, such as quantity, side (Buy or Sell) are also available as GLLINKS. RFQ performance statistics can be compiled in Excel.
Detecting RFQ in Excel

An RFQ ag will appear in Excel, in order to allow the client to create a formula to automatically send a quote or a simple order. A GLLINKS action will reproduce a RFQ ag in Excel with two congurable timers: 1. A timer that delays the display of the GLLINKS RFQ in Excel by n seconds. This would take the form of
=RTD("GLLinks.RTD";;"RFQ";"FCEM3";"RFQ";"Timer=t1;t2")
where t1 is the time in seconds. Example: =RTD("GLLinks.RTD";;"RFQ";FCEM3;"RFQ";"Timer=10;60") In this example the ag would be received by GLLINKS and held back for 10 seconds (the 60 applies to the second timer t2) before being displayed in Excel. The purpose of this delay is to give the user a chance to prepare the spreadsheet or respond perhaps after the other market makers.
Chapter 4. Using GL Automate 55 2. A timer that cancels the ag after n seconds. This is the same GLLINKS as above but with the second timer cancelling the ag to allow the user to pull the quote after t2 seconds. Once displayed it would show either 0 or 1 for, no there is no RFQ or yes there is a RFQ. Example: =RTD("GLLinks.RTD";;"RFQ";FCEM3;"RFQ";"Timer=10;60") This means that if an RFQ was sent from the exchange on FCEM3 it will be picked up by the GLLINKS and publish RFQ in Excel. This will remain in Excel for 60 seconds displaying a 1 and then return to 0 after 60 seconds. The idea behind this is to control the length of time that the quote is on the market. The timer also features a Random function, with the below syntax:
=RTD("GLLinks.RTD";;"RFQ";"FCEM3";"RFQ";"Timer=2-10;60")
In this case, the 1 will be displayed between 2 and 10 seconds after reception of the message, and will last for 7 seconds. Note
Zero and one were chosen deliberately as ags, to offer the possibility of multiplying the quantity required (QtyB) by the zero or one to simplify enable and disable. RFQ Direction Bias
A GLLINKS action will reproduce RFQ direction bias because on some exchanges RFQ senders are obliged to open if they are buyers or sellers. Example: =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"RFQSIDE") This will return a B for buy side bias and an S for sell side bias, allowing the user to include this variable in a formula to respond accordingly.
RFQ Quote quantity
A GLLINKS action will reproduce the quantity that the sender of the RFQ wishes to trade in. Example: =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";" RFQQTY") This will display the quantity that exists in the Market Data Server (SLC) for the user to include this variable in a formula in Excel to adjust the quote sent by the GL Automate. Again this will display the quantity that exists in the Market Data Server (SLC) for the user to include this variable in a formula in Excel to adjust the quote sent by the GL Automate.
GLLINKS Action for Creating RFQ statistics

Table: Pertinent GLLINKSs for RFQ Type Hour Event (1=active, 0 inactive) Broker Quantity Type of Broker Side =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"RFQBROKER") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"RFQQTY") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"RFQTYPEBROKER") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"RFQSIDE") Syntax =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"RFQHOUR") =RTD("GLLinks.RTD";;"RFQ";"FCEM3";"RFQ";"Timer=10;60") (for example)
56 Chapter 4. Using GL Automate Type (' ', 'B' (Buy), 'S' (Sell), or 'BS' (Buy and Sell)) Price Trader ID ID Maturity Symbol Source Exchange Market Sub Market Note
If there is no returned information, then -- (two minus signs) will be displayed.
Syntax
=RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"RFQPRICE") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"RFQTRADERID") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"RFQID") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"RFQExpiry") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"Symbol") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"InstrSource") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"InstrPlace") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"InstrMarket") =RTD("GLLINKS.RTD";;"RFQ";"FCEM3";"InstrSubMarket")
Table: Output zone information for RFQs Name OutDispStatusB OutCapDayB OutQtyDayB OutQtyPriceB OutQtyOrderB OutQtyRemB OutNbMessB OutDispStatusBS Note
All of the above are equally available for the sell side where appropriate.
Description Displays the status of the buy side of the instrument - for example, Fdisabled etc. The capitalization of the buy side (Price multiplied by quantity) Total bought on the day Total bought at that price; if price changes counter rests to zero Total bought quantity for that order, if a new order is sent the quantity resets to zero As displayed in QREM in the nego; the quantity remaining in the market Total number of Buy messages sent to the exchange since GL Automate was opened Displays the status of the folder or Quote.
Index
A
Activating trading, 36 Adjusting columns, 42 Audible indications of activity, 31
Instrument status color schemes, 44 Instruments Changing, 42 repeating, 46
L
Launching GL Automate, 3 Linking Excel and GL Automate, 5 Log les, 28, 49 Logs, 49
B
Buy and Sell Icons, 39 Buy Icons, 39 Buy/Sell Clearing Keys, 50
M
Market specics, 47 Mass Quote, 46 MQ, 46
C
Clearing Keys, 50 Color schemes, 44 Column Selection, 23 Columns icons, 40 Columns section, 40 Conguration dialog, 27 Control Table, 8 Control table, 42 Custom mode, 42
O
One-shot orders, 53 Operating mode, 42 Order types in Excel, 45 Orders prioritizing, 46 Output Zone, 8
D
Deactivating trading, 36 Disable GL Automate, 36
P
Panic button, 36 Pasted Columns, 31 Price control, 46 Prioritizing orders, 46 Priority, 46
E
Excel Input Zone, 8 Excel Output Zone, 8 Excel Settings, 31 Excel/GL Automate default separator, 31 Exporting Instrument lists, 22
Q
Q, 46 Quote, 46
F
Fast Quote, 45 Folder icons, 38 Folders arrangement, 19 color schemes, 21 status, 18 FQ, 45
R
Repeating Instruments, 46 Request for Quotes, 54 RFQ, 54 RFQ Direction Bias, 55 RFQ ags, 54 RFQ performance statistics, 54
S
Select Data Display dialog, 23 Selecting Columns, 23 Sell Icons, 39 Sending different order types, 47 Settings, 28 stk les, 22 Suspend mode, 36 Suspending orders, 37
G
General Options, 27 GL Automate window, 16 GLLINKS, 54
I
Iceberg orders, 54 Icons, 38 Input Zone, 8 Instrument lists, 22
58 Index
T
Tooltips, 51 Tracing problems, 49
W
Wav Files, 31

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GL Automate

Version 10.1 User Guide

Copyright 2011 SunGard Global Trading

Chapter 2. Setting Up Spreadsheets

Chapter 3. The GL Automate Window

Chapter 4. Using GL Automate

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Chapter 1 Getting Started

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Chapter 1. Getting Started

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Chapter 1. Getting Started

GL Automate Interface Features

Excel Interface Features

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Chapter 1. Getting Started

Configuring a New Excel Spreadsheet

Chapter 1. Getting Started Important

Linking an Existing Excel Spreadsheet to GL Automate

Linking a Spreadsheet Created with a Previous Version of GL Automate

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Chapter 2 Setting Up Spreadsheets

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Chapter 2. Setting Up Spreadsheets

Input and Output Zones

The Input and Output Columns

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Input / Out- Mandatory / put Zone Optional O

O (Mandatory if repeating more than one instance of an instrument) M

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Input / Out- Mandatory / put Zone Optional

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Chapter 2. Setting Up Spreadsheets 11 Field

Input / Out- Mandatory / put Zone Optional O

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Input / Out- Mandatory / put Zone Optional

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Chapter 2. Setting Up Spreadsheets 13 Field

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

14 Chapter 2. Setting Up Spreadsheets

Incorporating Execution Information in Excel

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Chapter 3 The GL Automate Window

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

16 Chapter 3. The GL Automate Window

Overview of the GL Automate Window

Using GL Automate for the First Time

Constructing a New GL Automate Spreadsheet

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Connecting GL Automate to the Spreadsheet

Inserting New Instrument(s)

Enabling the Instrument

Using Folders in GL Automate

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Chapter 3. The GL Automate Window 19

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department

Manually Changing the Status of an Instrument or Folder

Changing the Status of an Instrument or Folder Using Excel

Saving and Opening a Customized Setup

Folder Status Color Schemes

Instrument Status Color Schemes

GL Automate 10.1 User Guide Revision 1 Issued by the Documentation Department