Single-Sided Trade Entry

A single-sided trade submission feature allows users to submit single-sided trades to be claimed and then cleared by CME Clearing.

Using the "Alleged" function on the trade form, users can easily toggle between submitting single and dual sided trades. When enabled, the party entering the trade submits a single-sided trade that alleges to the other side of the trade. The party entering the trade allege the trade to a specific company in the applicable Buyer or Seller fields on the trade form.

 

Note: Trades can be alleged from broker to trader, trader to broker, trader to trader, or any combination thereof.

 

1. To enter a single-sided trade:

The user submitting the single-sided trade is the alleger, and the user on the other side of the trade is the alleged user.

1. Prior to adding a trade, set single-sided Notifications as needed.
2. Open a Trade form, and complete the upper section.

3. In the Buyer or Seller pane, click the Alleged checkbox. Enabling this feature alleges the other side of the trade to another user.

Note: Once alleged, the user to whom the trade is alleged can claim or decline the trade. Alternatively, that user can enter a single-sided trade with the same details as the first trade.

The alleged pane updates to include the Company and User fields. The User name is optional on the alleged side of the trade and lists all Traders and Brokers permissioned to enter single-sided trades based on your Company selection.

Note: Trades alleged to a company with no user are visible to any user in that company and can be claimed or declined by those users. In addition, trades alleged to a specific user can be claimed or declined by other users within the same company.

Optional: When trades are alleged to a Broker company, users can specify a trading company for the alleged user in the Suggested Counterparty field.

Note: Uncheck the Alleged tickbox, to make the trade dual-sided.

4. In the Buyer or Seller pane, lists differ for Traders and Brokers. Complete the fields based on the following:

Traders:

• On alleged side, the Company is the list of all companies registered for single-sided trading, and on the normal (not alleged) side, the Trader's company is selected as the Company.
• On alleged side, the User is the list of all users for those companies.
• On the normal (not alleged) side, the Trader defaults to the one submitting the trade.
• On the normal (not alleged) side, Traders are required to select an Account.

Brokers:

• On alleged side, the Company is the list of all companies registered for single-sided trading, and on the normal (not alleged) side, the Company is the list of companies that the Broker has trading relationships with.
• On alleged side, the User is the list of all users for those companies.

• On the normal (not alleged) side, the Trader is the list of traders in the available companies.

Note: Users can enter trades whereby half is submitted through CME Direct and the other half through CME ClearPort.

5. Optional: Click the Pre-Confirm button.

6. Click Submit to Clearing.

7. The trade appears in the Trade Book view with a Status of Unmatched (what the alleger sees) or Alleged (what the alleged sees), and allows the alleger to view counterparty details while allowing the alleged to view the company and user that alleged the trade.

Trades entered by an alleger appear under My Trades, and trades alleged to the company, a different user in a company, or when no user was specified appear under Company Trades.

Note: The Clearing Reference (Clr Ref) field updates only after both sides of a trade are completed and the trade clears.

8. Optional: When the status of a trade is Unmatched or Rejected, the alleger can cancel the trade by highlighting the trade row in the Trade Book and clicking Cancel Deal.

9. Optional: Available to both the alleger and the alleged, the Trade Book Copy Deal button copies a single-sided trade, unless the status of the trade is Alleged.
10. When first alleged, a notification for your alleged trade appears.
11. Click Show to launch the trade form in Edit mode.

 

Setting Notification Preferences

Notifications inform users of the status of the single-sided trades they enter. When enabled, CME Direct provides notifications to the alleged user on a trade and when a deal is alleged to a user's company without a user name.

 

1. To set notification preferences:

1. To enable notifications for single-sided trades, in the User Preferences window, navigate to Sounds & Notifications and set the following:

• When I trade, show me = SystemTrayNotification
• Notify me when a deal is alleged to my company with no user = Check

2. To enable and customize sound alerts, navigate to the Sounds & Notifications tab and select preferences as needed for each available field.

Trades alleged to you play My Trades sounds, while trades alleged to your company or a company without a user play My Company sounds.

3. Click OK.

 

Claiming/Declining a Trade

Alleged users, and permissioned users from an alleged company, can claim or decline single-sided trades.

 

1. To claim or decline a trade:
1. From the Trade Book, double-click the row of the alleged trade.

A Claim/Decline Deal window appears.

2. In the applicable Buyer or Seller pane, enter data as needed.
3. Click either the Decline or Claim Deal button.
4. Optional: When declining a deal, you are asked to specify a reason for declining.

5. When claiming a deal, the Trade Book updates automatically to show if the trade was cleared or rejected by clearing.

Note: Declined trades do not appear in the Alleged user Trade Book, but are visible for the Alleger.