How to Upgrade Trading Permissions for Bonds?
Log into Account Management to subscribe to bond & market data
To trade bonds, you first need to log into Account Management and use the Trading menu to upgrade your Trading Permissions to include Fixed Income.
To get bond data, you need to upgrade your Market Data Subscriptions to include US Bond Real-Time Data and Moody's Ratings.
You may customize the look of your trading pages easily as well.
View how to change the look of your Bond Columns and Ticker Row Settings (to specify the look of the tickers on your trading pages the way you like them) by following the simple steps below:
Bond Columns
The bond-related fields below can be added to your trading windows in Place Trader Workstation (TWS).
|
Column Name |
Description |
|
Bid Yield |
The yield-to-worst. This is the lower of yield to maturity and yields to all calls. The yield is only shown if it is offered on the exchange. |
|
Ask Yield |
The yield-to-worst. This is the lower of yield to maturity and yields to all calls. The yield is only shown if it is offered on the exchange. |
|
Last Yield |
The yield-to-worst. This is the lower of yield to maturity and yields to all calls. The yield is only shown if it is offered on the exchange. |
|
Bond Attributes |
Bond attributes of last sale price which may include: Non-standard settlement date (normal settlement for bonds is T + 3), including
C - cash trade ND - next day trade S# - seller's option Other Attributes
W - weighted average trade A - afterhours trade |
|
10 year Hedge |
The equivalent number of 10-year US Treasury bonds that would hedge one of the given bonds. It is the DVO1 of the given bond divided by the DV01 of the 10-year US Treasury bond. |
|
Convexity |
This measure is used by convention with the industry, rather than the derivative of duration with respect to yield to maturity. It is in fact an approximation of that value. It is the second derivative of the bond price with respect to its yield to maturity, divided by the bond price. |
|
Duration (%) |
The percentage decrease in the bond price per percentage point of increase in the bond's yield to maturity. It is the first derivative of the bond price with respect to its yield to maturity, divided by the bond price. |
|
Value of BPs |
The dollar value decrease in the price of a bond due to a 1 basis point, upward parallel shift in the yield curve. Commonly referred to as DV01. It is the duration times the bond price divided by 100. |
|
Amount Outstanding |
The amount of the bond outstanding as of the corporation’s latest available balance sheet. |
|
Bond Short Name |
Shows the actual text name of the bond for easier identification. |
|
CUSIP |
The cusip identifier. |
|
Coupon |
The interest rate used to calculate the amount you will receive annually, payable based on the Payment Frequency. |
|
Current Ask Yield |
The yield of the bond if it is purchased at the current offer. |
|
Current Bid Yield |
The yield of the bond if it is purchased at the current bid. |
|
Exchange Listed |
Indicates whether or not the bond is listed. |
|
Payment Frequency |
The bond payment frequency. |
|
Ratings |
The rating issued for the bond. |
Use the Ticker Row configuration settings to specify the look of tickers on your trading pages.
To define Ticker Row configuration settings
1. On the Edit menu select Global Configuration.
2. In the left pane, click Display and then Ticker Row.
3. Use the right panel to set the custom ticker row parameters.
TWS Fixed Income Display
Ticker Row Settings
· Display stocks with options available in bold - when checked, stocks that have options will display in bold font on the trading screen.
· Show hedging icon in size column - check to have the delta hedge icon shown in the Quantity field for volatility orders with an attached delta hedge.
· Display tick-dots instead of colored prices - when checked, price display on the Quote Monitor will be in white with a colored tick dot indicating upward or downward price movement.
· Show all values in base currency - If checked, all position and P&L values are recalculated to display in your base currency, and are shown in italics to identify them as having been converted from the local currency to your base currency.
· Highlight high or low for the day - when checked, the Last price will display in RED if it is also the day's low, and will display in BLUE if it is also the day's high.
Home Exchange
Set a Home Exchange Group that identifies your most-used exchange groups. Each time the primary listing exchange for a contract matches a home exchange group, that exchange is hidden from the contract description on the ticker line. This feature can help to clean up your trading page by removing the repetition listing of your most-used exchanges.
Fixed Income Minimum Size Increment
Customize the quantity display for fixed income products.
· Select $1 to size in face value.
· Select $1 K to size in multiples of 1000.
Position and P&L Display Settings
· Include Away positions to Portfolio and P&L - check to show away positions on a new tab in the Positions section of the Account window, in the Positions field displayed on any TWS trading page, and on the Portfolio page.
Note: For display purposes, position values are aggregated to include both Place Trade-held positions and “away” positions on the same contract. However, for trading purposes, for example if you elect to “close” a position, only the portion held at Place Trade will be traded.
· Include today’s opening position in P&L calculation - check to include existing positions in the calculation for the P&L column only.
· Round values to nearest whole number - when checked, the Cost Basis, Market Value and all other P&L columns will be rounded to the nearest whole number.
· Color-code position and P&L columns- when checked, the Position and all P&L columns will use color-coding to indicate positive and negative values at a glance. Set the colors using the selection boxes below.
Borrow/Loan Rate Format
· The default Fee Rate format shows the borrow/lend rate from the perspective of a fee owed.
· The Rebate Rate mode shows the borrow/lend rate from the perspective of a rebate received. When in rebate mode, data is italicized.
Volume Column Display Settings
· Prefer native volume - does not update with every tick, but will include delayed transactions, busts, late-reported trades and combos.
· Prefer calculated volume - updates with every tick, but may not include delayed transactions, busts, late-reported trades and combos.
Native/Calculated Index Prices
· Enable Native Index Prices Indication - check to display calculated index prices, but show an indicator per index that the exchange-native price is available. When checked, the Contract field displays a “c” to indicate the calculated price, and the tick dot is purple if exchange-native price is supported.
· Prefer Native Index Prices - check to display the exchange-native index price for indexes whenever available.
Market Data
Click Reset Subscription to modify settings for delayed market data.
· Show last known market data quotes - if checked, a static snapshot of the bid, ask, bid size and ask size is displayed when the markets are closed, for all tickers that are subscribed to market data.
· Do not prompt for market data subscriptions - if checked, you will not be prompted to see delayed market data for those tickers that have no market data subscription. A change to this parameter requires that you restart your system before the change takes effect.
· Format prices with commas - check to see commas in price quotes where applicable.
Place Trade Financial, Inc. is a member of FINRA and SIPC. Place Trade is a MSRB registered firm.
