UNITED STATES DISTRICT COURT
`NORTHERN DISTRICT OF ILLINOIS
`EASTERN DIVISION
`
`------------------------------X
`
`TRADING TECBNOLOGlES
`INTERNATIONAL, INC.,
`
`Plaintiff,
`
`No. 05 C 4137
`
`Ron. Charles P. Kocoras, U.S.D.J.
`
`Hon. Ian H. Levin, U.S.M.J.
`
`v.
`
`PEREGRINE FINANCIAL GROUP, INC.,
`TRADEMA VEN, L.L.C., and
`TRADEMA VEN GROUP, L.L.C.
`
`Defendants.
`--------------------------------X
`PEREGRINE FINANCIAL GROUP, INC.
`
`Counter-Plaintiff,
`
`v.
`
`TRADING TECHNOLOGIES
`INTERNATIONAL, INC.,
`
`Counter-Defendant
`
`X
`
`CONSENT JUDGMENT
`
`Pursuant to the parties' respective settlements of this action, as documented in separate
`
`confidential settlement agreements between Plaintiff Trading Technologies International, Inc.
`
`("TT") and Defendants TradeMaven Group LLC and TradeMaven LLC (collectively
`I
`"TradeMaven") dated January 30, 2006 and amended on March 15, 2006 'and between TT and
`
`Defendant/Counter-Plaintiff Peregrine Financial Group, Inc. ("PFG") dated March 15, 2006,
`
`both agreements which shall become effective upon entry of this Consent Judgment, and upon
`
`consent of TT, Trade Maven and PFG, judgment is hereby entered against TradeMaven and PFG
`
`upon TT's Complaint, and it is hereby ORDERED, ADJUDGED, and DECREED that:
`
`TT0098580
`TTX00098580
`
`TRADING TECH EXHIBIT 2069
`TD Ameritrade v. Trading Technologies
`CBM2014-00136
`
`Page 1 of 26
`
`

`
`1.
`
`TT commenced this action for patent infringement against TradeMaven and PFG on
`
`July 19, 2005 (which was subsequently amended to add TradeMaven Group LLC), in which it
`
`alleged that TradeMaven has infringed U.S. Patent Nos. 6,766,304 ("the '304 patent") and
`
`6,772,132 ("the '132 patent") by its Trade Window product versions 2.8.x, 2.9.x and 2.10.x, and
`
`alleged that PFG infringed by its original versions of BESTDirectFASP"M (versions 2.9.x and
`
`2.10.x) which were developed by TradeMaven. TT bas not accused PFG's BESTDirectFAS'J"TM
`
`system version 3.x or any of PFG's BESTDirect™ systems (as shown and described in Exhibit
`
`l) of infringing the patents in suit, and has agreed not to do so.
`
`2.
`
`PFG and TradeMaven each filed an Answer denying IT's allegations, and PFG
`
`asserted counterclaims alleging that TI's patents are invalid and unenforceable.
`
`3.
`
`This Court has jurisdiction over the parties to this action and over the subject matter
`
`of the Complaint.
`
`4.
`
`TT represents, and PFG and TradeMaven do not contest, that TT is the sole and
`
`exclusive owner of the '304 patent and the' 132 patent, and has the exclusive right to enforce and
`
`recover damages for past infringement and enjoin future infringement of the '304 and '132
`
`patents.
`
`5.
`
`TradeMaven agrees that all claims of the '304 and '132 patents are valid and
`
`enforceable. PFG does not contest the validity or enforceability of any claims of the '304 and
`
`'132 patents. Accordingly, this Court hereby fmds that all claims of the '.304 and '132 patents
`
`are valid and enforceable against TradeMaven and, by extension, PFG.
`
`6.
`
`TradeMaven admits, and accordingly, this Court finds, that TradeMaven infringed
`
`the '304 and '132 patents under 35 U.S.C. Section 271 by making, using, selling, offering for
`
`sale, importing, and/or otherwise distributing, electronic trading software called Trade Window
`
`2
`
`TT0098581
`TTX00098581
`
`Page 2 of 26
`
`

`
`versions 2.8.x, 2.9.x and 2.10.x and electronic trading software that it made for PFG that was
`
`made available through PFG's website under the name BESTDirectFAS'fTM versions 2.9.x. and
`
`2.10.x, screensbots and documentation ofwhich are attached as Exhibit 2.
`
`7. Defendants TradeMaven, its officers, directors, partners, members, affiliates,
`
`subsidiaries, assigns, and successors-in-interest are hereby permanently enjoined during the term
`
`of the '304 and '132 patents from infringing the '304 and '132 patents, including, without
`
`limitation, by the making, using, selling, offering for sale, importing, facilitating connectivity for
`
`and otherwise distributing in the United States the electronic trading software products referred
`
`to in paragraph 6 above (and substantially similar products) including, without limitation, for use
`
`in electronically trading any item (e.g., futures, options, equities, fixed-income products, etc.).
`
`8.
`
`PFG does not contest that TradeMaven admitted that the products identified in
`
`paragraph 6 above are covered by claims of the '304 and '132 patents. PFG also does not
`
`contest that after July 20, 2004 (the issue date of the '304 patent), PFG had used, sold, offered
`
`for sale or otherwise distributed electronic trading software that it received from TradeMaven
`
`that it made available through PFG's website under the name BESTDirectFASTfM, versions
`
`2.9.x and 2.10.x, and that this software is shown and described in Exhibit 2. TT does not
`
`contend that any such use, sale, offer for sale or other distribution by PFG was willful or
`
`deliberate and acknowledges that PFG's alleged infringement was limited. Accordingly, this
`
`Court finds that PFG has infringed the '304 and '132 patents under 35 U.S.C. Section 271 by
`
`using, selling, offering for sale, importing and/or otherwise distributing the BESTDirectFastTM
`
`product, versions 2.9.x and 2.10.x, that it received from TradeMaven, screenshots and
`
`documentation of which are attached as Exhibit 2.
`
`3
`
`TT0098582
`TTX00098582
`
`Page 3 of 26
`
`

`
`9.
`
`TT has not asserted infringement against and does not contest that the PFG
`
`BESTDirect™ product as shown and described in Exhibit 1 hereto does not infringe the '304 and
`
`'132 patents. Accordingly, this Court fmds that PFG has not infringed the '304 and '132 patents
`
`under 35 U.S.C. Section 271 by making, using, selling, offering for sale, importing and/or
`
`otherwise distributing the BESTDirect™ product as shown and described in Exhibit 1.
`
`10. Defendant PFG,
`
`its officers, directors, affiliates, subsidiaries, assigns, and
`
`successors-in-interest are hereby permanently enjoined during the term of the '304 and '132
`
`patents from infringing the '304 and '132 patents, including, without limitation, by the making,
`
`using, selling, offering for sale, importing, facilitating connectivity for and otherwise distributing
`
`in the United States the electronic trading software products referred to in paragraph 6 above
`
`(and substantially similar products) including, without limitation, for use in electronically trading
`
`any item (e.g., futures, options, equities, fixed·income products, etc.).
`
`11. PFG is not admitting any fault, liability or wrongdoing of any kind in this action
`
`and is not making any admission as to the validity of any of IT's allegations, claims or
`
`contentions in this action.
`
`12. Conditioned upon receiving from TradeMaven complete payment pursuant to
`
`payment terms in the January 30, 2006 settlement agreement (as amended on March 15, 2006),
`
`TT waives any right to damages from TradeMaven arising from the manufacture, use, sale or
`
`offer to sell, importation and/or other distribution of the electronic trading software products
`
`referred to in paragraph 6 above prior to entry of this Judgment.
`
`I 3. TT waives any right to damages from PFG arising from the use, sale or offers to
`
`sell, importation and/or other distribution of the electronic trading software products referred to
`
`in paragraph 6 above prior to entry of this Judgment.
`
`4
`
`TT0098583
`TTX00098583
`
`Page 4 of 26
`
`

`
`14. All counterclaims by PFG are hereby dismissed with prejudice.
`
`15. TT bas covenanted not to sue PFG and its customers for particular products, as
`
`described more fully in their settlement agreement.
`
`16. This Court shall retain jurisdiction over this case for purposes of enforcing this
`
`Consent Judgment and the confidential Settlement Agreements between TT and TradeMaven
`
`and IT and PFG pursuant to which the Consent Judgment is filed.
`
`17. The right to enforce this Consent Judgment shall transfer to any successor-in-
`
`interest to each of the parties.
`
`18. Each party shall bear its own costs and attorneys' fees.
`
`SO ORDERED:
`
`Dated: 3(~;lob
`----------------
`
`The Honorable Charles P. Kocoras
`Chief Judge, United States District Court
`
`AGREED TO:
`
`Dated: March 21, 2006
`
`s/ Jennifer M. Kurcz
`LeifR. Sigmond, Jr. (ID No. 6204980)
`Matthew J. Sampson (ID No. 6207606)
`Jennifer M. Kurcz (ID No. 6279893)
`McDonnell Boebnen Hulbert & Berghoff LLP
`300 South Wacker Drive
`Chicago, IL 60606
`Tel.: (312) 913-0001
`Fax: (312) 913-0002
`Attorneys for Plaintiff
`TRADING TECHNOLOGIES
`INTERNATIONAL, INC.
`
`5
`
`TT0098584
`TTX00098584
`
`Page 5 of 26
`
`

`
`Dated: March 20,2006
`
`Dated: March 21, 2006
`
`_ s/ Phillip M. Pippenger
`Steven P. Petersen
`Phillip M. Pippenger
`Leydig, Voit & Mayer, Ltd.
`Two Prudential Plaza, Suite 4900
`Chicago, Illinois 60601
`(312) 616-5600
`(312) 616-5700 (facsimile)
`
`Attorneys for Defendants
`TRADEMA VEN GROUP LLC and
`TRADEMA VEN LLC.
`
`s/ Rebecca J. Wing
`Richard J. Hoskins (Id. No. 1266063)
`Stacie R. Hartman (Id. No. 6237265)
`Schiff Hardin LLP
`6600 Sears Tower
`Chicago, Illinois 60606
`(312) 258-5500
`(312) 258-5600 (facsimile)
`
`Laurel G. Bellows (Id. No. 02454238)
`Bellows and BeUows, P.C.
`209 South LaSalle Street, Suite 800
`Chicago, J11inois 60604
`(312) 332-3340
`(312) 332-1190 (facsimile)
`
`Rebecca!. Wing(Id. No. 6197704)
`General Counsel
`Peregrine Financial Group, Inc.
`190 S. LaSalle Street, 7th Floor
`Chicago, Illinois 60603
`(312) 77 5-3000
`
`Attorneys for Defendant/Counter-Plaintiff,
`PEREGRINE FINANCIAL GROUP, INC.
`
`6
`
`TT0098585
`TTX00098585
`
`Page 6 of 26
`
`

`
`EXHIBIT 1
`
`TT0098586
`TTX00098586
`
`Page 7 of 26
`
`

`
`..
`
`. '
`
`WHAT &8 DIIST DIRECT?
`BEST Direct is an online order entry system designed for futures and options traders. It can be
`directly downloaded onto your personal computer with user-friendly, mouse-dick navigation and is
`easily integrated into most charting packages. To assure uninterrupted trading, the system is con(cid:173)
`nected to exchange servers as well as multiple trading platform servers and maintains multiple
`Internet connections. Here's how it works ...
`
`LOGGING ON TO BlEST DIRECT
`There are two ways to stan BEST Direct: 1) go to Start, Programs and locate BEST Online Trading.
`Select Trade, and the BEST Direct Log On screen will appear. 2) double click on the "Trade" icon
`on your deslctop, and the BEST Direct Log On screen will appear.
`
`' F: I
`~·'JL'
`
`Enter your five-digit account number and left
`click. on "Log On" to start the BEST Direct online
`trading system. When the system starts, you will
`see in the lower right band comer a red button that
`says, "Not Connected." It is at this t.ime you may
`connect to the Internet if you have not.
`
`~'
`:~·1.
`
`Once your Internet connection is established, click
`on the red, "Not Connected" button, and it will
`then turn into a green "Submit" button. (If you
`have a simulated account, you will see a green
`"Demo" button.) This confirms your connection to
`the BEST Direct trade desk. If at any time during
`the trading day you see this button turn red, you have lost your connection to BEST Direct and wiU
`have to re-establish your connection.
`
`!-.
`
`PLACING FUTURiiS ORDeRS THROUGH
`THS 11118T DIRIECT ORDIIIR IINTRV WINDOW
`The BEST Direct order entry window is set up so that all you have to do to trade is simply point
`and click. In the market selection area of the window, simply select the commodity, quantity,
`year and month and whether you want to buy or sell. lllen click on "Submit .. to place the order.
`
`Every order will default to a market order unless you specify a type of order, such as a stop, limit,
`MIT (marlcet-if-touched), SCO (stop-close~only) or MOC (market-on-close). Should you need to
`place one of these specific orders. just click on the small arrow to the right of order spec (order
`type) and scroll to the type of order you wish to place.
`
`So that you can quickly choose a price for a stop, limit or MIT order, we have provided a price
`ladder that runs vertically along the right side of the ticket window. This ladder contains
`delayed or real-time quotes, depending on the commodity, with the most current quote high·
`lighted in the center.
`
`Above and below the most current price. other prices are listed sequentially. If you see the price
`that you want in the price ladder. left click on that price, and you will see it appear in the field
`below order spec. If the price that you want is not within the range of the price ladder, you can
`do one of two things: 1) click in the price field, delete the contents of the window and then type
`in your desired price; or 2) click in the price field and use the up/down arrows to scroll to your
`desired price.
`
`TT0098587
`TTX00098587
`
`Page 8 of 26
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`

`
`..•
`
`. •
`
`PLACING OPTION ORDI!R8
`In the lower left band comer of tbe BEST Direct
`Older entry window, you will notice that there is a
`place to enter basic option orders. To place an
`option order, simply specify the quantity, year,
`mooth and tbe commodity. Then specify the
`strike price. whether it is a put or call and whether
`it is an open or close. The option order will auto(cid:173)
`matically set the BEST Direct window to execute
`as a market cxder. If you wish to place the order
`as a stop or limit, just elick on the small anow to
`the right of order spec and scroll to the type of
`Ol'da you Vr'iBb to place and then enter the price as
`peviously explained.
`
`Nt*: If it if your inUnrion 10 place a more complex
`option order, sudJ as a spread, strangle or srraddle.
`you mMSt plJJCe rhis ankr ovet- the phone with the
`BEST Direct rrade desk. Please conMCt us ar (800)
`648-6597, (312) 775-3030 or (800) 75fJ.0062.
`
`DllTIIRMINING YOUR POSITION
`The Position Reference screen, located at the top of the BEST Direct order entry window, allows you to
`ttack all of your open positions, as well as your open position Profit/Loss. As your orders get filled, the
`Position Reference screen will autollladcaJly update. You will be able 10 see your net position (long or short)
`for each commodity that you have 1laded. If you right ..click in the Positico Reference screen, four selections
`will appear: Load TICket, Show Net Po6ition, Load Closing Net Positious for ... , and Recalculate.
`
`Choosing "Load Tacket" will
`set up a ticket with an order to
`offset the position you've just
`selected.
`For
`example,
`assume you are
`long 4
`December E-mini S&P SOO. If
`you select the position shown in the Position Reference window (Order ID 879803), right-click, and
`select l.ood TJclcet, you will !let up a trade ticket to offset tbe position selected. In the example shown,
`the Load Ticket function would load a ticket to sell 2 December E-Mini S&P 500 contracts. Selecting
`"Sbow Net Position" will bring up a window with a summary of your open positions, including quan.
`tity and average price. Chooiing "Load Closing Net Position for ... " will set up a ticket with an order ro
`offset aU of the positions of the particular commodity you've just selected.
`
`N•: 1M Posirion R~forenc~ screen is only to be used as a rqerenct, not a statement. It is your respon.sibiU(cid:173)
`ry to always be aware- of you.r own posilions. To calculau your posilion. ILSe 1~ following fornuda;
`TQIQl Swn gfPfltr;./r4uiSQk Price
`Tollli N~r of Coruracts per CommtH:Iiry = Net Position
`BEST Direct cannot be ~ld liahkfor any Uu:onsistencies between your acrual position and me position shown
`on rhe Position Reference screen. If at any rime during rhe rradillg day you feel tluu the Posirion Reference
`screen ~s not reflect your currtmr position, please coruact eM order desk ar (800) 648..6597, (BOO) 759-0062
`or (312) 77J-3030.
`
`TT0098588
`TTX00098588
`
`Page 9 of 26
`
`

`
`. '
`
`•,
`
`-
`
`::::.:::;:::_;:::::_
`
`-~---~ - --
`-
`
`"
`
`--
`
`-
`
`-
`
`-
`
`..__ -~ - - -
`
`- -
`
`- - - - -
`
`---
`
`-
`
`~ __ ,_ --- --~-
`
`----~ ---~
`----
`--
`.=----
`
`VIEWING THE STATUS OF YOUR ORD.RS
`You can view the status of your orders through the Order Status screen or the Order Management win(cid:173)
`dow. The Order Status screen, shown below, is located at the bottom of the BEST Direct order entry
`window. From this screen, you can view the status of all of your orders placed throughout the day,
`whether working, fllled, rejected or canceled.
`
`This screen will also give you
`confumation that the BEST
`Direct trade desk has received
`your trade. Upon placing an
`order, you will see your order
`appear in the Order Status
`screen. When your order is con·
`firmed at the BEST Direct trade desk, the Order Status screen will display that trade as a green
`WodriDg order. A Working Order is any ordel" in the market that is not yet filled. Once your Working
`Order is filled. the Order Status screen will then display that ttade as a white Filled order, confuming
`that your order has been executed. A Filled Order can either initiate a new position or close out an
`existing position.
`
`To see a more detailed status of your trades, you can access the Order Management screen by click~
`ing oo the ''V~.ew" beading of the BEST Direct order entry window. The Oider Management screen
`is a larger version of the status screen located at the bottom of the BEST Direct order entry window.
`You can also print the Order Management screen or export data for your records.
`
`CANCEUNGI ORDERS
`From the Order Status screen or from the Order Management window, you can straight cancel or can·
`eel/replace orders. Here's how it works:
`
`8tnaltlht cancel
`To straight cancel a green Working order, select the order you want to cancel. and right click on
`it, either in the Order Management window or in the Order Status screen at the bottom of the
`BEST Direct window. You will then see a drop-down menu appear with the "Cancel Trade"
`option and "Cancel/Replace Trade" option. Select "Cancel Trade," and a confirmation screen
`will appear asking if you are certain you want to cancel the trade. Once you have confirmed
`that you wish to cancel the trade, a cancel request for that panicular order will then be sent. The
`status of the order will tum from a green Working order to a purple CXUPending order. Once
`the cancel has been accepted, your order will then tum to a red Canceled order.
`
`TT0098589
`TTX00098589
`
`Page 10 of 26
`
`

`
`•,
`
`. .
`
`c.no.u ........
`to cancellreplace an ocdet, select the green Working order that you wish to modify. Left
`click next to the green Wcding order~ ~itbel ill tbe Order~ wir.ldow or in the
`Order Status screen at tbe bottom of the BBST I;JiJ;ect window. Once you have selected the
`order, rl&bt click on your mou!W. Yo• will that see a drop--down mam to eittl&r ~111DCel
`Trade" 0[ "CmcelJlleplace 'l'rlsde." Select "Cancel/Replace Trade," and a Cancel/Replace
`Trade window with your original order will appear. From here you have the option to
`change the price and/or quantity. Once you are satisfied with your changes, click the
`"Submit" button on the Cancel/R.eplace Trade screen. After submitting your request, go to
`the main BEST Direct window. You will then be able to see your previous order drop to the
`bonomof the screen as a red Canceled order and your new order as a green Working order.
`
`Nt*: You cannor cancel or canceV~place a jilkd order or a mMW order. Even if >"DU cancel or
`canceV~ploa a workiiJg order, ir does nor guarantee rJuu )'Oil will rwt be ftlled on yoru orlgind order. JI4St
`because your order tuniS ~don your side does nor me4ll yow cancel has been confirmed. In rhe event rhar
`yo~~ art wo late to cancel an order, you will be nori}Ud by message. AI mu rime, you will also see your~
`"Canceled" order rum back in to a g~en "'Kbrking" order. You will then be instructed to awair your jUl..
`
`OBTAINING QUOTiiUI
`Two quote options are available with BEST Direct·-flash quotes and real-time quotes. Which you receive
`depends on tbe commodity you are viewing. Real-time streaming quotes are available for Globe.x prod(cid:173)
`ucts and single stock
`futures. for other com(cid:173)
`modities, flasb quotes
`me available based on
`ex.change-based delays.
`To update a price that is
`available on a delayed
`basis, click: the FQ but(cid:173)
`ton above the coottact
`month in the Market
`Selection window.
`
`For those products that are available on a real-time basis, streaming quotes are available witb top of mar(cid:173)
`ket bid and ask in the trade ticket window. Depth of market is also available through the Quick Trade
`drop-down meou.
`
`USING THI! BEST DIRECT TOOLBAR
`At the top of the BEST Direct order entry window, you'll notice a toolbar that lists the following: Main,
`View, Message, Quick Trade, FOREX, Charts, Refresh, and Help. After clicking on one of these options.
`a drop-down menu will appear. giving you more functions from which to choose. We have listed each
`drop down menu function beneath each tool bar option. Under each drop-down function, we have
`explained how these particular functions worlc, or we have listed mcre items and explained how those
`items worlc. As you have probably guessed, there's a lot to learn, so let's get started!
`
`Noll!: BEST Direct cannot be ,{o11nd liable for validity. or the acc11raey of the q110tes taken from the Flash
`QU01e oprion. You, the trader, are responsible for supplying your own real· rime data. BEST Direct is rwt a
`data vendor.
`
`TT0098590
`TTX00098590
`
`Page 11 of 26
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`

`
`< .
`
`Logout
`By selecting "Logout," BEST Direct will disconnect you from tbe system. To Jog back on to
`the BEST Direct system, just left click on the red "Not Connected" button or select ''Log On"
`(Fl2) from Main.
`
`Options
`Show FW 'ndtet - When this option is checked, a fill ticket will appear wben your order
`is filled. If you do not wish to see this fill ticket, left click on that option to remove the
`check mark, and the fill ticket will no longer appear.
`
`*"·
`
`Show Muldp&e Aa:ounts - H you have more than ooe online account with BFST Direct. this
`option will give you tbe ability to view both accounts without closing the program. Additional
`accounts can be viewed by clicking on the drop-down menu left of the account name.
`
`Show Account ShtwJ - When you remove this option, you will be able to see the trade that
`you would be placing in lhe event that you were to left click on tbe "Submit" button. If you
`look at the Account Status screen you will see your cwrept account stallls, which will show
`your cash account balance. liquidating value, margin requirement, margin excess, open,
`close and net profit and loss. You can update this function by clicking on ''Refresh" on the
`BEST Direct toolbar and then left clicking on the .. Recalculate Commodity" option.
`
`Add Attouat- This enables you to add account& so that you can access multiple accounts
`with one logon to BEST Direct. Then you can simply change accounts through the
`Account Wmdow oo the top left of your trade ticket.
`
`Edit Co~ U&t • By selecting this option, you can adjust the commodities avail(cid:173)
`able in your drop-down menu. Once you have selected the commodities you wish to
`view, choose save and exit.
`
`Real-dme Quotes- When you select "Real-time Quotes," another drop-down menu will
`appear, giving two options: 1) PFG MDS streaming quotes for GLOBEX or single stock
`futures; 2) "None,'' which will give you the Rash Quote (not real-time.)
`
`Http lld'resll Optloa - Do not change this setting unless advised by technical support or
`customer service representatives.
`
`Setup - Do not change any of the settings unless advised by technical support or customer
`service representatives.
`
`Update Program
`Do nor cbanae any of the settings unless advised by the technical support or customer service
`representatives.
`
`Exit
`Choosing this selection will close the program. When you left click on "Exit," a confum.ation
`message will appear stating the status of all your orders. The system will verify that you want
`to close the program. and it will then close properly for you.
`
`TT0098591
`TTX00098591
`
`Page 12 of 26
`
`

`
`. .
`
`Order Man•gement
`By selecting this option, as discussed previously, the Order Management window will show
`you the status of all of your ordc:ls. The Order Status screen that you see at the bottom of the BEST
`Direct order entry window basically is a condensed version of the Order Management window.
`
`Reports
`Customer P2c!:e ~ Selecting Ibis option allows you to view the PPG website wilboul having
`to open another browser. When viewing the website, you will find quotes and charts, con(cid:173)
`tract specificadoos, mm:ket reports and any announcements regarding PRJ or BEST Direct.
`
`Proltll..oes lntraday Report - Selecting this option allows you to see many of your account
`statistics through yoor web browser. The P/L lntraday report will belp you track your positioat,
`as well as show your profits and losses on all of your trades fur that day, excluding commissions.
`For example, let's say rbat yoo bought 1 PSZ3 (Dec 03 B-Mini S&P 500 contract) at 102100
`and lhen sold 1 ESZ3 at 1024.00. The PIL report would sbow that you made a profit of $1SOOO
`on that particular trade (ooe point is worth $50.00). The PIL report also provides you with a
`print option so that you can print a copy of your daily trading activity. [l is important that you
`do print a copy of yoor PIL report at the end of the trading day so that you have a r=cord of your
`daily activity. Fur1b::mne, by retaining a record of your PIL tepart, you can do your own
`cbeckout the next day to make sure that aD of your trades match what you have in your records.
`The best way to do your O'N1l cbedrout is to cbeck your trades on tbe ~vioos day's PIL report
`against the trades that yoo see on your Previous Activity report. The Previous Activity repon is
`what has actually cleam:l in your account H something does not ~right, it is important that
`you call your brok« or the BEST Direct U'llde desk immediately.
`
`Within the Profit/Loss report imraday web pages, there are additional pages thai: can be used
`as tools: Acoount Status, Today's Activity, Open Positions, PIL Trade Summary, V"tew All
`Trades and Previous Activity.
`
`Parked Orden~
`This window allows you to load several trades
`that you can send into the marlret with one click.
`
`Web Quoteii/Charta
`This selection takes you to a J?9le on lhe PfO web
`site that provides delayed quotes and charts pro(cid:173)
`vided by Fu.tureSource.
`
`BB8T Ch•rt
`This lets you view real-time streamin~ charts for
`E-mini S&P 500, E-mini Nasdaq, and mini-Dow futures.
`
`VIew Quote Window
`This enables you to view an expanded quote window that you can resize according to your needs.
`
`Alwaya on Top
`Clicking this selection will ensure !hat the BEST Direct Thlde TICket window is visible on top of
`other programs you might have running.
`
`Componente
`Sign-up for a Test Account-This enables you to sign up for a simulated trading account direct from
`BEST Direct.
`
`PFG MDS Setup -You will only use this component if directed by a CtlStomCz' service rep(cid:173)
`resentative.
`
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`' .
`
`Clicking on this option will direct you to the PFG website, where you click on an icon to send an e(cid:173)
`mail to customer service.
`
`I QUICK TRADIE I
`
`The next function you will find at the top of the BEST Direct Wmdow is Quick Trade (QTI. The
`QT program was desiped for day-traders who mainly focus on one given market. The QT pro(cid:173)
`gram performs all of the same functions as the main order entry screen, with the exception of a
`few additional features that we have added to enhance QT's performance. The QT window does
`not show an Order Staws screen. Therefore, you may pull up a separate Order Management win·
`dow by clicking "File" in the top left comer of the QT window and choosing Order Management.
`This Order Man.agement screen may be sized to the lencth and width you desire.
`
`Entering an order on the QT system is very simple. First, on the main BEST Direct order entry
`window, specify the commodity, month and year in the market selection area of the window.
`After that information is specified, left click on "Quick Trade" on the toolbar. When the QT win(cid:173)
`dow pops up, you will see the quantity, order type, price and buy/sell buttons below the com(cid:173)
`modity code. Enter the desired information. The QT window automatically opens up as a mar(cid:173)
`ket order. If you wish to place a stop or limit order. click on the drop-down menu and left click
`on one of those types of orders. Once the order type is selected, up and down arrows will appear
`on the right side of the price box. Click on the
`arrows to the right of the price to raise or lower
`the price. H you do not wish to scroll through the
`prices, you can delete the price that is in the price
`section and type in the desired price. When you
`have found the desired price or entered the
`desired price, left click on "Buy" or "Sell" to sub(cid:173)
`mit the order. A ticket confumation screen will
`appear at the bottom of the QT window. Click on
`"Yes" to place that order or "No" to re-enter trade
`information.
`
`Two additional features that appear on the QT
`window that are not available on the main win·
`dow are "Close Position" and "Cancel ALL
`Orders." By clicking on "Close Position,'' any
`open positions which you have in the commodity selected on the QT window will close. By click(cid:173)
`ing on "Cancel ALL Orders.'' any working orders which you have in the commodity selected in
`the QT window will be canceled.
`
`The QT window also gives you depth of market for GLOB EX contracts and single stock futures.
`This depth of market featw:c will show the current bid and offer and the quantity at those prices.
`It will also &bow the four prices in the book above and below the current bid and offer along with
`the quantities at those prices. This depth of market feature also gives the user a second option for
`placing stop and limit orders. To place a stop or limit order through the depth of market, simply
`left click on a price in the book. and then right click. Once you have right clicked, a menu will
`appear giving you the option to place a stop or limit order. At the bottom of the QT window you
`will see a bar that will provide the open, high, low, last, bid and ask for tbe contract selected.
`
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`I QUICK TRADE CONT'D. I
`I File
`
`File is located in the top left corner of the QT window and offers several other functions that
`can be used with QT .
`
`.A..tw.ys 0. 'Thp- This~ the first feature undet F'lle. By clicking on "Always On Top,"
`you keep the QT window 011 top of any other programs or windows you have open at
`the time.
`
`Main 11c:ket • Clicking on this feature will return you to the main order entry screen and
`minimize the QT window.
`
`()roder ~~ - This Order Management window is the same as the Order Status
`screen at the bottom of the main order entry window with seven! additional features.
`First. you can size this window to make it as large or as small as you want. You also have
`the ability to print this window. (It is strongly recommended that you prinl this window
`each day when you have finished trading.) Finally, the Order Management window gives
`you the ability to export data from BEST Direct to save on your computer. Each of these
`features can be accessed by clicking on "Main" at the top of the Order Management win(cid:173)
`dow.
`
`Message - lbis sends you to the Customer Service web page. where you can send an e(cid:173)
`mail to the BEST Direct Customer Service team.
`c~ -This refen to the confirmation message, which appears when you place
`a trade verifying that the order being placed is correct. From the first time you open File,
`this feature wiU be checked, and you will receive a confinnation message with every
`order placed, which is stronsiy recommended to avoid errors. However, in the Quick
`Trade window you bave the option to bypass this confinnation message by removing the
`check mark confirmation in the file menu. REMEMBER, if tiWI feature II BOt cheeked
`ami you dkt "Bay" or ~," the order will go diredly into that market.
`
`Exit · Selecting ''Exit" will simply close the QT window.
`
`FORE X
`
`VIew Forex Quotes
`1bis feature opens up a new window that
`displays various forex rates from the cash
`market.
`
`Forex Direct
`Forex Direct is a comprehensive real-time
`platform offering 24-hour dealing with
`charts, news. and acwunt summaries. For
`BEST Direct customers who trade the cash
`for:ex markets, this function can automaticaUy open up the Forex Direct platform.
`
`-
`
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`
`CHARTS
`
`real-time
`Streaming
`c:bsm are available for E(cid:173)
`Mioi S&.P 50(1, B-MiDi
`Na!ldllq, md Mini m..d
`Dow fut