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Set trading instructions and whether releases wait

Two settings bear on every order a deployment works:

  • Trading instructions: active, pause or stop, on an account, every account, a plugin, a person or a service account. Each plugin on the order path honours them.
  • Whether an account's releases wait for compliance: while one does, an order is released only once every compliance plugin covering the account has answered on it. Every account waits by default.

Both are recorded in the book of record, each change its own entry with who made it and why. See The order lifecycle for what each does.

What an instruction does, and does not

  • The most restrictive in force governs: stop over pause over active. An active on one target lifts nothing set on another.
  • An instruction is lifted only at the level that set it. A plugin's admin narrows a deployment admin's instruction and never lifts it. The level is stamped from your access when you set it, never chosen.
  • The book refuses and cancels nothing for it. It records the instruction and tells every oms, ems, connectivity, portfolio and compliance plugin, whatever their accounts. Each plugin honours it as its development provides: on a pause it sends no new orders; on a stop it sends none and cancels its working orders, a connectivity plugin cancelling at the venue at once. An order sent anyway is recorded with the instruction in force.
  • Nothing stands between a person and a stop. Set at the page, it takes effect at once.

Whether a plugin honours instructions is the plugin's to show, by its tests and meridian plugin check (see Command line). Setting one is not a statement that any market's or regulator's controls are met.

To set a trading instruction

  1. Open Trading instructions: from Settings, beside Instruments and Data sources; or, as a plugin's admin, from the plugin's line, beside Its pages, on a plugin holding a role that honours them (portfolio, oms, ems, compliance or connectivity).
  2. Choose + Set. The dialog is headed Set an instruction.

  3. Under On, choose the target:

    On Who may choose it Names
    All accounts a deployment admin nothing more
    A plugin a deployment admin; a plugin's admin, their own the Plugin
    An account a deployment admin; a plugin's admin, within their plugin its ID, and the Plugin where it is within one
    A person likewise their login
    A service account likewise its SA- ID

    A plugin's admin always names their plugin, and is refused All accounts and any plugin they do not administer. 4. Choose the Instruction: Active, Pause or Stop. 5. Say Why, kept with the instruction, and choose Set; or Prepare, for someone to make it later (see Prepared changes).

The page lists the instructions in force you may see -- every one for a deployment admin, those naming a plugin you administer for a plugin's admin -- one line each: On, Instruction, Level (Deployment admin or Plugin admin), Why and Set by, searchable. With none it says no instruction is set, and every plugin trades as usual.

To lift one, choose Change on its line, shown where you set at its level, and set it to Active, with a reason.

A user group is not a target yet. An instruction naming one is refused, naming target.user_group_id: aim a stop at an account, All accounts or a plugin instead.

Whether an account's releases wait for compliance

The Accounts tab's Compliance column says, for each account, Waits or Does not wait. A new account waits.

  • Waits: an order in the account is released only once every compliance plugin covering the account has recorded a verdict on the version released. Until then a release leaves it proposed, awaiting check, and refuses nothing.
  • Does not wait: a release passes the gate with no verdict, the gate's other checks still applying.

A deployment with no compliance plugin releases nothing in an account that waits. To change it:

  1. On the Accounts tab, choose Edit on the account's row.
  2. Under In the book, set Releases to Wait for compliance or Do not wait.
  3. Enter a Reason, and choose Save.

Each attribute you change is its own entry in the account's journal (see To set an account's attributes in the book).

Allow orders on local records

The Trading instructions page also holds a deployment-wide setting, Allow orders on local records: whether an order may name an instrument whose record is still a local record, one the platform has not answered for yet (see One ID per instrument). It is a deployment admin's.

It is On by default, in every deployment and after the upgrade that brings it. While on, such an order is marked "local record: not priced". Beside the setting the page says how many live orders name a local record, such as "3 live orders on local records, not priced."; the home page shows the same count, linking here.

To turn it off, or back on:

  1. Open Trading instructions from Settings.
  2. Under Allow orders on local records, say Why.
  3. Choose Turn off (or Turn on), or Prepare, for someone to make it later.

Off, from the change on, a new order naming a local record, and an accept of a venue-originated fill on one, are refused (REFUSAL_REASON_LOCAL_RECORD_NOT_ALLOWED). Orders already working on a local record continue: to stop them, set a trading instruction. A telephoned or outside order the oms records is recorded whatever the setting.

Through an agent

Four of core's tools mirror these. The two that set take a note, kept as the book entry's reason, and the two that list answer outcome: "unchanged". Each act is at the setter's level, can be prepared, and is at May not for agents until the deployment admin loosens it (see What agents may do):

A fifth, dashboard__set_local_record_orders, turns orders on local records on or off, at the deployment admin's level, and at May not for agents until the deployment admin loosens it.