Page 155 - DCOM510_FINANCIAL_DERIVATIVES

Financial Derivatives

Notes 10.1 About Trader Workstation

The trader workstation is the terminal from which the member accesses the trading system.
Each trader has a unique identification by way of Trading Member ID and User ID through
which he is able to log on to the system for trading or inquiry purposes. A member can have
several user IDs allotted to him by which he can have more than one employee using the
system concurrently.

The Exchange may also allow a Trading Member to set up a network of dealers in different cities
all of whom are provided a connection to the NSE central computer. A Trading Member can
define a hierarchy of users of the system with the Corporate Manager at the top followed by the
Branch Manager and Dealers.
The following windows are displayed on the trader workstation screen:

1. Title bar: The title bar displays the current time, Trading system name and date.
2. Ticker window: The ticker displays information about a trade as and when it takes place.
The user has the option to set-up the securities which appear in the ticker.
3. Toolbar: A window with different icons which provides quick access to various functions
such as Market By Order, Market By Price, Market Movement, Market Inquiry, Auction
Inquiry, Snap Quote, Market Watch, Buy order entry, Sell order entry, Order Modification,
Order Cancellation, Outstanding Orders, Order Status, Activity Log, Previous Trades, Net
Position, Online Backup, Supplementary Menu, Security List and Help. All these functions
are also available on the keyboard.

4. Market watch window: The Market Watch window is the main area of focus for a Trading
Member. The purpose of Market Watch is to view market information of pre-selected
securities that are of interest to the Trading Member.
To monitor various securities, the trading member can set them up by typing the Security
Descriptor consisting of a Symbol field and a Series field. Securities can also be set up by
invoking the Security List and selecting the securities from the window. The Symbol field
incorporates the Company name and the Series field captures the segment/instrument
type. A third field indicates the market type.

Example: Company (Symbol): ACC
Instrument type (Series): EQ
Market Type: N
For each security in the Market Watch window, market information is dynamically updated
on a real time basis. The market information displayed is for the current best price orders
available in the regular lot book. For each security, the corporate action indicator (e.g., Ex
or cum dividend, interest, rights etc.), the total buy order quantity for the best buy price,
best sell price, total sell order quantity for the best sell price, the Last Traded Price (LTP),
the last traded price change indicator (‘+’ if last traded price is better than the previous last
traded price and ‘-’ if it is worse) and the no delivery indicators are displayed.

Notes If the security is suspended, “SUSPENDED” appears in front of the security.

150 LOVELY PROFESSIONAL UNIVERSITY