EQUATOR interface
click to enlarge
EQUATOR displayed in four distinct sections
Client Orders
Client Orders disclose the volume of stock a user wishes to execute against
its execution benchmark. In the Australian market Client Orders are often loaded into
EQUATOR
from Iress/IOS.
Algo Orders
Algo Orders use
algorithmic strategies
to execute Client Orders against their execution benchmark.
A Client Order can be executed using multiple
Algo Orders or a combination of
Algo Orders and operator trades.
Bucket Chart
Algo Orders are generally executed via smaller parcels know as buckets.
A Bucket Chart is a visual tool in the lower left section of
EQUATOR
which displays all known buckets.
Bucket Charts are colour-coded to indicate whether a bucket is scheduled
(blue), executed (red) or queued (green). The above example for selling BIL using
a VWAP strategy shows that the first two buckets have been executed,
the third is queued, meaning it has been placed in the market awaiting execution,
whilst the remaining buckets are scheduled to be placed in the market at a pre-determined
future time.
Action List
The EQUATOR Action List displays every action initiated or captured by
EQUATOR in its lower right section, as
follows:
* Time
* Account
* Direction
* Stock
* Algo Number
* Bucket Number
* Actions Code
* Volume
* Price
* Price Type
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