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`I
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`User Guide
`June 1995
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`CME0142798
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`0002
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`Page 1 of 368
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`TRADING TECH EXHIBIT 2209
`TRADESTATION ET AL. v. TRADING TECH
`CBM2016-00051
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`Introduction
`
`Customized Display
`There is a choice of window zone arrangements in this release. (See Section
`1.4.) In the fixed format, the Trading window displays in the upper 1Wo-thirds of
`the screen, with as many as 20 instruments on display in a one-up view; 40
`instruments in a 1Wo-up view. Trader Mailbox and Ticker windows are displayed
`in a side-by-side arrangement across the lower third of the screen, below the
`Trading window. The trader has the ability to increase or decrease the size of the
`Trader Mailbox and Ticker window, receiving a warning if Instrument lines are
`about to be covered up. The trader can also change the spacing be1Ween
`instrument lines.
`
`The trader can instead choose a freeform window :zone display, where the trader
`determines size, position, type size, and/or line spacing of the various windows.
`Again, a maximum of 20 instruments can be displayed; 40 in a 1Wo-up view.
`
`In both window zone arrangements, the trader can also determine whether or not
`to display the Price Page. (See Section 10.4 for information on the Price Page.)
`
`Active Markets Window
`The trader can display current quotes of all active instruments on one or both
`Services. (See Section 9.5) The movable pop-up Active Markets Snapshot win(cid:173)
`dow can remain on the screen while the trader uses other windows. The trader
`can select an instrument from the set of instruments and immediately:
`
`• Display the page with that instrument.
`
`• Enter a bid or offer or combined bid/ask orders.
`
`• Hit a bid or take an offer.
`
`Fields in the Active Markets window are not updated automatically with new
`bids/offers. Choose the REFRESH command button to display updated data.
`
`Order Entry
`, The order-entry dialog boxes (Bid, Offer, Hit, Take, and Bid/Ask) have been
`re-designed, with larger fonts, new controls to make it easier to change the price
`and quantity, colors to differentiate Buy (blue) and Sell (red). and a clearing key
`to quickly recall pre-defined clearing data. (See section 2.5 and Section 7.)
`
`j j
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`tnlroduotian
`
`The system now gives the trader a graphical warning if he or she attempts to
`enter a price off the market.
`
`The More Quantity function has been removed from all order-entry boxes.
`
`Ouick Page Retrieval
`Traders will be able to display system and custom pages through a pop-up list or
`by using the keyboard to cycle through a sequence of pages. (See Sections
`9.3.1 and 9.3.2.)
`
`New Soft Keys
`Two new soft keys have been added to the keyboard. ACTV MKTS displays the
`Active Markets window. QUICK PAGE displays the pop-up list of system or
`custom page names. (See Sections 9.5 and 9.3.1.)
`
`Changes to GLOBEX 2A+ Menus
`The complete set of menu bar functions and menu choices is shown on the next
`page.
`
`Display Menu
`The Display menu now includes the Active Markets choice. This choice displays
`the pop-up window of all active instruments. (See Section 9.5.)
`
`Window Menu
`The new Window menu allows the trader to customize the display. (See Section
`10.)
`Price Page on the Window menu lets the trader determine whether to display the
`Price Page and which of two GLOBEX Price Pages to display.
`The Style choice on the Window menu allqws the trader to pick from two screen
`formats;
`
`• Fixed where the Trading window, Trader Mailbox, and Ticker window
`appear in flxed positions on the screen. Trader Mailbox and Ticker win(cid:173)
`dow can be increased or decreased in size using control arrows on the
`screen.
`
`GLOBEX User GUide- 1995
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`I II
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`- •
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`I
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`® C"!'Vri9h! Reute!>l, 19!15. All Rights Reoem>d.
`Rtutelll,lls agent$, alflllates, succeiiS01SI!IId assign• dlsolalmt any liability wl!Btsoevor to or through the uoer of !his U$or Gulds
`lor any eoors or omleions that may be presentllere!n and shall not be llal>le lor any d1111111ges whatsoever to or lhrough said
`uoer due to euclltiTOIII or omiSsions.
`
`CME ,.,. ... to the Chicago ~tile &change; IIATIF fillers to the Matr:tre A Terme/nterrl8tional de France.
`
`MATI~ is Bll!glslentd lra!lemari< of MATIF, S.A, a F111nc11 compa•y.
`
`GLOIIEX® 15 e~~~glstollld lladsmali< of !he Chicago Mercantile Eltcllange.
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`CME0142801
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`Table of Contents
`
`•
`
`lnfrOdUcfiOn5.n••••""'"""n.an••n•• .. •uuu ... u••••u•n•o.•H•••n• .. •••••••u••u••••• ••••••••••••.-•••••••••• .. ••• i
`About GLOBEX .............................................................................................................. i
`New in GLOB EX 2A+ .................................................................................................... i
`Changes to GLOBEX 2A+ Menus ................................................................. iii
`Using this Manual ........................................................................................................ iv
`GLOBEX America GCC Emergency Procedures ........................................................ vi
`
`1. Using the GLOB EX Keystatlon .••.• ;, __ , ......................................................... 1
`1.1 GLOBEX Login .................................................................................................... !
`1.2 The Keyboard ..................................................................................................... .4
`1.2.1 Har!l Keys .......................................................................................... ..4
`1.2.2 Other Important Keys .......................................................................... 4
`1.2.3 Soft Keys ............................................................................................ .4
`1.3 The Mouse ........................................................................................................... 5
`1.3.1 Mouse Pointer ..................................................................................... 5
`1.3.2 Using the Mouse .................................................................................. 6
`1.4 The GLOB EX Keystalion Display ........................................................................ 7
`1.4.1 Display Styles ...................................................................................... 9
`1.4.2 Trading Window .......................................... : ..................................... 14
`1.4.3 Trader Mailbox .................................................................................. 20
`1.4.4 Ticker Window .................................................................................. 21
`1.4.5 Price Page Window .......................................................................... 22
`1.4.6 AI- Window ................................................................................... 22
`1.4.7 Command Llna ................................................................................. 23
`1.5 GLOBE X MeniJS ............................................................................................... 24
`1.5.1 Selecting from MeniJS ....................................................................... 26
`1.5.2 GLOBEX Menu Bar .......................................................................... 29
`1.6 Primers .............................................................................................................. 26
`1.6.1 Audij Trail Primer .............................................................................. 28
`1.6.2 TICket Printer .................................................................................... 28
`1.6.3 Printer Problems ............................................................................... 28
`1.6.4 Rep~ntlng Data ................................................................................. 26
`
`2. Basic GLOBEX Functlons ..... _.,. .... ,. ...... uu ..................................... uu••••••·•••-.. 31
`2.1 Overview ........................................................................................................... 31
`2.2 Seleo!ing an lnlltrument .................................................................................... 32
`2.2.1 Quiok Page Find ............................................................................... 34
`2.3 Selecting a Function ......................................................................................... 35
`2.4 Using Dialog Boxes .......................................................................................... 37
`2.4.1 Areas in a Dialog Box ....................................................................... 37
`2.4.2 Moving in a Dialog Box ..................................................................... 38
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`GLOBEX User Gwde. 1995
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`Tabie of Contents
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`Conlents
`
`2.4.3 Keying and Editing Text ................................................................... 39
`2.4.4 Using Usts ........................................................................................ 40
`2.4.5 Using Check Boxes .......................................................................... 42
`2.4.6 Using Radio Elultons .......................................................... ~ .............. 42
`2.4.7 Choosing Command Buttons ........................................................... 43
`2.5 Execu~ng Trades .............................................................................................. 43
`2.5.1 Moving Dialog Boxes ........................................................................ 44
`2.5.2
`i!:ntenng Data in Trading Dialog Boxes ............................................ 45
`2.6 On-Screen Help ................................................................................................ 47
`2.7 Loss and Recovery of Service .......................................................................... 50
`2.7.1 Loss of Live Connection and AeCO\Iery ............................................ 50
`2. 7.2 Failure to Recover ............................................................................ 50
`
`3. Service/Emergency Procedures ................................................................. 55
`3.1 GLOBEX America and GLOBEX Europe Control Centers ............................... 55
`3.2 Technical Problems .......................................................................................... 56
`3.3 Emergency Procedures .................................................................................... 56
`
`4. The GLOBEX Session .................................................................................. 59
`4.1 Market Opening ................................................................................................ 59
`4.2 Display States ................................................................................................... 60
`4.3 Host Broadcast Level ........................................................................................ 52
`4.4 How to Enter Orders ......................................................................................... 63
`4.4. 1
`Initiate the Function .......................................................................... 63
`4.4.2 Follow the Instructions ...................................................................... 65
`4.4.3
`Interpret the Results -GLOBEX Response ....................................... 70
`4.5 Transaction Confinmation .................................................................................. 73
`4.6 Order Execution Confinmation1ickets ............................................................... 73
`4.7 Gl.ot!EX Control Center ................................................................................... 77
`5. Session Functions ·-···u•"*····-.. ··· .... ~ ................... -..... u ................ ~ .......................... 79
`5.1
`Initial Login ........................................................................................................ 79
`5.2 Login to Another Service .................................................................................. 86
`5.3 Entry Operator Sign-In/Out ............................................................................... ffl
`5.4 Lock/Unlock Keystation .................................................................................... S9
`5.5 Change Password .............................................................................................. 90
`5.6
`logout ............................................................................................................... 92
`5. 7 Copy Open Order File ....................................................................................... 95
`
`6. Parameters Functions ................................ H•·-·····•••••• .. ··-... ······-··--·-·•••unu•97
`Introduction to GLOBEX Parameters .............................................................. 97
`6.1
`Introduction to Instrument/Service Parameters ................................................ 98
`6.2
`
`Table of Contents
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`Contents
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`6.3 MOdify GLOBEX Parameters .......................................................................... 100
`6.3.1 CraatelModify Custom Page Page ................................................. 104
`6.3.2 Modify Service Display Priority ....................................................... 110
`6.3.3 Set Sequence Number ................................................................... 112
`6.4 Modify lnstrumenVService Parameters .......................................................... 114
`6.4.1
`Instrument Parameters ................................................................... 115
`6.4.2 Service Parameters ........................................................................ 119
`
`7. Trading Functions ...................................................................................... 121
`7.1 Overview ......................................................................................................... 121
`7.2 Bid/Ask ............................................................................................................ 123
`7.3 Bid ................................................................................................................... 125
`7.4 Offer ................................................................................................................ 127
`7.5 Hit-Sell ............................................................................................................. 129
`7.6 Tal<e-Buy ......................................................................................................... 131
`7. 7 Change Bid or Offer ........................................................................................ 133
`7 .a Request tor Quote ........................................................................................... t35
`7.9 Display Book ................................................................................................... 140
`7.10 Hold Open On:!ecs ......................................................................................... 143
`7.11 Release Held Orders .................................................................................. 145
`7.12 Cancel Open Orders ..................................................................................... 147
`7.13 Cancel Orders tor Instrument ....................................................................... 149
`7.14 Passing the Bcok .......................................................................................... 151
`7.15 Print File ........................................................................................................ 154
`
`8. Special Trade Functions ................................. - ............. ._ ........... - ......... 155
`8.1. Overview ........................................................................................................ 155
`8.2 Using these Functions at the Key$1ation ........................................................ 155
`8.2.1 Menus ............................................................................................. 155
`8.22 Trading Panel ................................................................................. 156
`82.3 Keyboard ..................................................................................... : .. 156
`8.2.4 Permissions .................................................................................... 157
`8.2.5 Keystalion Display .......................................................................... 157
`8.3 Clearing Information lor Special Trade Funetions .......................................... 1 S8
`8.3.1 Create!Modify Clearing Data (Defaults) ......................................... 158
`8.3.2 Clearing Data .................................................................................. 161
`8.4 Market Mal<er Orders ...................................................................................... 162
`8.4.1 Create/Modify Markel Maker Page ................................................. 170
`8.4.2 Display Market Maker Page .............................................................. 172
`8.5 Buy Working Order ......................................................................................... 173
`8.6 S..ll Working Order .......................................................................................... 179
`
`GLOB EX User Gwde · 1995
`
`Tat1le of Contents
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`CME0142804
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`Contents
`
`9. Display Functions ...................................................................................... 185
`9.1 Overview ......................................................................................................... 185
`9.2 Open Orders ................................................................................................... 186
`9.3 Page Directory ................................................................................................ 187
`9.3.1 Quick Page Retrieva! ...................................................................... 190
`9.3.2 Page Seroling ............................................................................... 192
`9.4 Custom Page Select ....................................................................................... 193
`9.5 Active Markets ................................................................................................ 194
`9.6 Organizations .................................................................................................. 196
`
`10. Window Functions ................................................................................... 1'if7
`10.1 Overviow ....................................................................................................... 197
`10.2 Trader Mailbox .............................................................................................. 199
`10.3 Ticker W1ndow .............................................................................................. 200
`10.4 Price Page .................................................................................................... 201
`10.5 Style Choice .................................................................................................. 203
`10.6
`Instrument Spacing ....................................................................................... 204
`Instrument Overlap Warning ......................................................................... 205
`10.7
`
`11~ Messages and Keystation Records .... _ ..... + .................... u ........ u •• -.u~ ......... 207
`11.1 Messages ...................................................................................................... 207
`11.2 Trader Mailbox .............................................................................................. 208
`11.3 Tradelog ........................................................................................................ 212
`11.3.1 UsingtheTradelog ....................................................................... 213
`11.3.2 First Line of Tradelog .................................................................... 213
`11.3.3 Description of System Event ....................................................... 213
`11.3.4 Trade Ticket Information .............................................................. 215
`11.3.5 Directed Messages ....................................................................... 216
`11.4 Audit Trail ...................................................................................................... 223
`
`12. GLOBEX Offline Utilities ........ m .............................................................. 229
`12.1 Overview .......................................................................................................... 229
`12.2 Starting the Offline U!iltties ........................................................................... 229
`12.3 Options UtiOiy ................................................................................................ 233
`12.-4 Copy Ulllily .................................................................................................... 234
`12.4.1 Open Orders ................................................................................. 235
`12.-4.2 Tradelcg ....................................................................................... 236
`12.4.3 Even!log ........................................................................................ 238
`12.5 Reports Utllily .................................. , ............................................................. 238
`12.5.1 Order Status ................................................................................. 239
`12.5.2 Matched Orders ............................................................................ 243
`
`T2ble of Contents
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`GLOBE X UserGu;de · 1995
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`CME0142805
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`0009
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`Cont<mts
`
`12.5.3 Exception Orders .......................................................................... 245
`12.5.4 Canceled Orders .......................................................................... 248
`12.5.5 Open Extracted Orders ................................................................ 251
`12.5.6 Open Working Orders .................................................................. 254
`12.5.7 Atl Repons .................................................................................... 257
`12.6 Print Utility ..................................................................................................... 258
`12.6.1 Open Orders ................................................................................. 258
`12.6.2 Tradelog ....................................................................................... 259
`12.6.3 Eventlog .................................... , ................................................... 259
`12.6.4 Print File (from A;) ........................................................................ 250
`12.7 Special Utility ................................................................................................ 251
`12.7.1 Ex!ract Worl<ing Orders ............................................................... 261
`12.7 2 Create Trade Tickets .................................................................... 263
`12.7.3 Separate Open Orders ................................................................. 265
`12.8 Exiting the Offline Utilities ............................................................................. 267
`12.9 Auxiliary Messages ........................................... , ........................................... 267
`12.9.1 Output Oiskede ............................................. , ............................... 268
`Input Diskette ................................................................................ 269
`12.92
`12.9.3 Print Spooler ................................................................................. 270
`12.9.4 Print Error ..................................................................................... 271
`
`13. GLOB EX Operating Prlnclples ................................................................ 273
`13.1 Order Definition ............................................................................................. 273
`13.2 Order Entry ................................................................................................... 274
`13.3 Passing the Book .......................................................................................... 275
`13.4 Order Modification ......................................................................................... 276
`13.5 Order Deletion .................................................... , .......................................... 277
`13.6 Automated Matching ..................................................................................... 2n
`13.6.1 Order Processing .......................................................................... 276
`13.6.2 Order Eligibility ............................................................................. 279
`13.6.3 Standing Order Priority ................................................................. 279
`13.7 Standing Order Book .................................................................................... 261
`
`Appendix A: Futures and Options Symbols on QLOSEX .......................... 287
`
`Appendix B: Clearing lnformatlon ................................................................ 289
`CME Clearing Information ...................................................................................... 289
`MATIF Cleoring Information .................................................................................... 291
`
`Appendix C: Additional Price Information for
`Partner Exchanges .................................................................................. 293
`Requirem<>nts tor Entering Prices in :l2nds and 64ths .............................. 293
`
`GLORE X User Gwde- 1995
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`Table of Contents
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`CME0142806
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`Contents
`
`Requirements tor Entering Prices in Half· and Quarter·32nds .................. 294
`Entering Prices in Halves and Fourths ....................................................... 295
`Altering Prices ............................................................................................ .295
`Price Check Value ...................................................................................... 295
`
`Appendix D: Parallel Methods for Initiating Functions .............................. 297
`
`Appendix E: Printer Malntenance ................................................................. 299
`
`Appendix F: Programming Soft Keys .......................................................... 317
`
`Appendix G: GLOBEX America GCC Emergency Procedures .................. 321
`Overview .................................................................................................................. 321
`Determine the Type of Communication Failure ....................................................... 325
`Host Failure ..... , ...................................................................... , ................................ 327
`Failure of a Mui~·Serviee Keystation Connection to a Single Service .................... 330
`Site Failure ............................................................................................................... 332
`Failure of a Single KeystaUon .................................................................................. 334
`Failure of a Keystatlon Component ......................................................................... 338
`Order Cancellations ................................................................................................. 340
`GLOSEX Emergency Checklist ............................................................................... 342
`
`IndeX oon•••~••••an..,ooo•.,.•• .. •••-•••~h-••••••••u••••••n-.ouooooooo...,oooonu•••••"*-•••••••••~•n•~-·u••• 343
`
`Service/Emergency Procedures .................................................... Inside covers
`Customer Service!Trading Queries/Order Canceltations ......................... lnside covers
`Local Reuter Cu!llomer Service ................................................................ Inside covers
`
`Table of Contents
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`Gl OBEX User Gwde · 1995
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`Introduction
`
`About GLOSEX
`GLOBEX is an after hours automated centralized matching system designed for
`computerized trading of futures and options.
`
`GLOBEX matches buyers and sellers with each other, based on price, quantity,
`and time.
`
`The system supports order matching in a variety of ways.
`
`• Current summary market Information is visible on the screen at all
`Umes. This Information Includes the highest Bid and the lowest Offer (a·
`long with their associated quantities). The individual trader's best Bid
`and/or Offer price and quantity for each Instrument are also shown, as
`well as the last trade price and net change.
`
`• The most recent activity in all markets can be viewed on the screen.
`• Relevant cash quotes can also be displayed on the screen.
`The matching system maintains a "book• of open Bids and Offers. Using a
`keyboard or computer mouse, the trader Interacts with the book by submitting
`Bid, Offer, Hit, or Take orders. All parties to a transaction receive real time
`messages regarding success or failure ot trades. Messages appear on the
`screen and on an attached printer. The trading screen is updated as orders are
`matched or new orders are accepted into the book.
`
`Entries are always processed according to strict price/time priority. Complete
`security and tracking of all transactions is assured.
`
`The GLOBEX system is dedicated to order matching. The clearing and position
`keeping funCiions are performed by external systems.
`
`New in GLOBEX 2A+
`GLOBEX 2A+ includes a number of new features, which are described in the
`following paragraphs. These features are described in detail in the appropriate
`seCiions of this User Guide.
`
`Gl OBEX User Gutde · 1995
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`• Freeform where the trader can move or overlap the various windows,
`and choose whether to display the Trader Mailbox and Ticker windows.
`The Instrument Spacing choice lets the user determine how tar apart to space
`instruments in the Trading window.
`
`In Fixed Display Mode, the Instrument Overlap Warning choice lets the user
`receive a warning when a window will obscure instrumen1 data.
`
`Page Menu Functions
`The Page menu has been eliminated; functions on the Page menu have been
`incorporated in the new Window menu.
`
`Tak~\,
`C~~arv<,..
`¢aro;.el hl.lfl,ll!l'fn\, ..
`1'1f.'Q ..
`: Vit¥1 AFOt."
`
`cont'd
`
`Using this Manual
`The first two sections of this manual- Using the GLOBEX Keystation and Basic
`GLOBEX Functions -
`include all the basic information you need to use the
`system. Techniques, details, and background are presented separately from actual
`functions (whenever possible) to avoid repetitiOn.
`section 3 of the manual describes Service/Emergency Procedures.
`
`iv
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