![]() the ask is $10.13).īid: i) a BUY order, or ii) refers to the price of the highest buy order in the market (i.e. In Ready Trader Go you can only reduce the volume of an order, you cannot change the price, side or type of an order.Īsk: i) a SELL order, or ii) refers to the price of the lowest sell order in the market (i.e. The OPTI ETF closing price is the larger of min (OPTI-ETF Last Traded Price, OPTI-100 Index Future Closing Price * 1.002) and OPTI-100 Index Future Closing Price * 0.998.Īggressor: the market participant that inserted an order in cross with an existing order already on the exchange, causing a trade to occur.Īmend: to modify the price or volume of an existing order.The OPTI-100 Index Future closing price is the last traded price.Any inserted orders in excess of this will be rejected. The active volume is the sum of the volume of all the orders you have on the exchange. Active volume limit will be limited to 200 lots.Active order counts will be limited to 10 orders.Breaching this will see the participant’s access to the exchange revoked for the rest of the round. Positions will be limited to 100 lots.No more than ten unhedged lots may be held in any instrument for more than one minute.No more than 50 order operation requests (insert, cancel or amend) may be sent in any rolling one second period.Any inserted orders that are in cross with an active order from the same participant will be rejected. To help you manage your risk the exchange has a dedicated unit which maintains a pool of futures contracts which you can draw upon to hedge your position in the ETF at current market prices.Įach team will need to adhere to the following exchange rules:.However, to incentivise market making the exchange pays the initiator of the passive order in the trade a maker fee – 1bp or 0.01% of the value of the trade. In the Ready Trader Go ETF market, the aggressor in a trade pays the taker fee, which is 2bps, or 0.02% of the value of the trade. Each trade attracts a small fee paid to the exchange. To attract market makers to their market, the exchange has agreed to provide incentives and services as described below. ![]() ![]() Your autotrader (and those of the other competitors) will trade on a simulated exchange full of would-be investors ready to get involved. We’ll provide historical time-series order and trade data, which you can use to verify your pricing and trading algorithm. Follow instructions on the ReadMe file to run the basic autotrader on the simulated exchange, view the log files and the match events file.īuilding upon our initial code-base, your team will draw upon your programming and analysis skills to write an autotrader to price the ETF, execute trades, and manage risk.Learn about the pieces of software that have been provided in the source code.This will provide you with the required knowledge you need to be competitive in Ready Trader Go. Learn about the various market elements and fundamentals of market making.The source code includes a basic Autotrader, an exchange simulator, and some test data. Download the source code by following the instructions that are emailed to your team at the start of the competition.
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