TOPs:Order:Correlo

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An Order in Correlo represents a financial transaction between a User and a Group (via a Product). Generally, this will be related to investments.

Contents 1 Correlo-specific Rules 2 Version 1.0 (default placements/display) 2.1 Values 2.2 User Orders 3 Version 2.0 (aggregation) 4 Version 3.0 (real orders) 5 Version 4.0 (advanced paper-trading) 5.1 Additional Rules 5.2 Stops and Limits 5.2.1 Price direction matrix 5.3 Options 6 Category Tree

Correlo-specific Rules

• You can not transact less than 1 quantity of Products
• All Orders must be transacted in integers (e.g., cannot transact 1.5)

Version 1.0 (default placements/display)

Values

Placing an Order will default to Current Value (otherwise known as a Market Order)

1. If an Order uses a past value, then the Order is marked as Hypothetical

User Orders

Order statements will be constructed with the following parameters:

• Order ID #
• Date & time
• Buy/sell
• Quantity
• Product Name (link to Product URL)
• Price
• Hypothetical/Actual/Real

Version 2.0 (aggregation)

The purpose of aggregation is to create "market sentiment" indicators. These are the accumulation of all Orders and comparison of Orders on Products.

Buy volume	Sum up all buy orders
Sell volume	Sum up all sell orders
Open positions	Sum up all open positions (may use Portfolio Digest
Closed positions	Sum up all closed positions (may use Portfolio Digest

Version 3.0 (real orders)

Real Orders are trades made with real money. Data is pulled from live feeds from clearing firms, brokerages, et al. This is dependent on Correlo:Trading Analytics, which will be planned in a future Release.

• While a Product should exist for each Order, it may not

Version 4.0 (advanced paper-trading)

Additional Rules

• Min. account size: If a Product has a minimum account size, the value of all Orders related to that Product in the Portfolio must equal or be greater than the minimum account size
• Trading blocs: incremental increase

Stops and Limits

Stops - Buy stops are orders that are placed at a predetermined price over the current price of the market. The order becomes a "buy at the market" order if the market is at or above to the price of the stop order. Sell stops are orders that are placed with a predetermined price below the current price. Sell-stop orders become "Sell at the market" orders if the market trades at or below the price of the stop order.

A limit order is an order to buy a security at no more (or sell at no less) than a specific price. This gives the customer some control over the price at which the trade is executed, but may prevent the order from being executed ("filled").

• If a Stop/Limit order is placed, the status of the Order shall be "Pending"
• The status shall be changed to "active" if the Product's value specified in the Stop/Limit Order is ever matched or exceeded

Price direction matrix

The following table represents when stops/limits are transacted based on what direction the market is moving (up or down)

	Buy	Sell
Stop	Greater than or equal to	Lesser than or equal to
Limit	Lesser than or equal to	Greater than or equal to

Options

An option is a contract written by a seller that conveys to the buyer the right — but not the obligation — to buy (in the case of a call option) or to sell (in the case of a put option) a particular asset, such as a piece of property, or shares of stock or some other underlying security, such as, among others, a futures contract. In return for granting the option, the seller collects a payment (the premium) from the buyer.

austinguu 17:22, 14 January 2009 (UTC): Specifications TBD

Category Tree