saxo trader 2 walk through

This document has been prepared and published by Saxo Bank A/S for the information of clients only. The contents hereof are based on information taken from sources which are considered reliable. Saxo Bank A/S accepts no responsibility for the accuracy or completeness of any information herein contained nor for any forecasts or recommendations. Saxo Bank A/S shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information herein contained.

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CLIENT STATION (SAXO TRADER) WALKTHROUGH

Updated on September 27th 2006 by Thomas Dam


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Check that the Default Workspace is the correct one used on the client station DEMO & LIVE. WORKSPACE Introduce clients to creating their own workspace

• Regardless of what default workspace the client has selected, have him/her open a new view. • Open the Prices and Trade module. • Open the Instrument Explorer. Show how to search for instruments and build a list of favourites.

Have the client go through the process of placing instruments into the Prices and Trade module (using drag-and-drop or right-click functionality from Instrument Explorer).

• Open a chart. (Just to show placement in workspace. Chart functionality will be reviewed later). • Open analysis related to the products the client is interested in trading. • Module Formats: Review the different module formats. Modules can be displayed as panels or

documents. o Panels can be docked or ‘glued’ to the workspace (so that they will not move) or they can

float, allowing the client to move the modules around and place them on another computer screen (if working with more than one screen). Clients can change module formats by right-clicking on the header (top) bar of the module. Docked panels can be auto-hidden (by clicking on the push tab at the top of the docked module).

o The Document format displays the module in a large format that fills the whole view. When several documents are within a View, they appear as tabs along the top of the view.

The module’s name, e.g. Prices and Trade or Account Summary, appears as a tab along the top. This format is best suited for larger modules, like the Prices and Trade or chart modules.

• Docking: Show docking functionality by docking the Instrument Explorer on one side of the View. Demonstrate how to use the docking guides (purple arrows that show where the panel will dock within the view). Demonstrate the Auto-hide function using the Instrument Explorer. Show changing the Chart module from a panel to a document.

• Show how to rename views. • Demonstrate how to save the customised workspace.

INSTRUMENT EXPLORER Introduce clients to the new Instrument Explorer

• Show the sorting and filtering functionality. Expanding and collapsing product lists, displaying instruments by exchange or sector and selecting which products to display.

• Show search function capability. • Demonstrate creating favourites list. • Show right-click functionality (all trading modules, technical analysis and charts launched directly

from the Instrument Explorer. • Show drag-and-drop functionality (dragging instrument into chart and/or Prices and Trade module).


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CHARTS Introduce clients to the new chart module

• Open a chart. Walk the client through selecting the instrument, chart type and timescale. Show both toolbar and menu functions, how to hide either one or both and walk the client through the functions of each of the toolbar icons.

• Show the chart customisation features available, e.g. changing chart colour, grid and line thickness, as well as how to setup default chart settings (using the Options dialogue box).

• Add an annotation. • Add a study. Show the client the full range of technical analyses available in the Client Station.

Show how to specify the study’s parameters. • Show the different types of information that can be displayed in the chart, i.e. the new information

box, crosshairs, open positions and orders. • Show how to save a custom study. i.e. one with the client’s own specifications, analyses and

annotations. • Show how to scroll and squeeze the chart to see past data. • Demonstrate Comparative mode. • Demonstrate adding a study to another study.

PRICES AND TRADE MODULE Introduce clients to the Prices and Trade Module

• Show the different possibilities for adding instruments to the chart (using the header panel or the Instrument Explorer).

• Review the Header Panel and the Trade Panel. Show how to hide/display both. • Show how to customise the columns using the Choose Columns function (available in the right-

click menu). • Show how to launch other modules from the Prices and Trade area (right-click functionality). • Highlight the trading functions available in the Trade Panel. Review rules for trading in the trade

panel. • Demonstrate the shortcuts available.


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FX TRADING: FX Trade (Go over in the trade module)

• Tradable quote. Go through the trade module and make a trade. Show that this trade ends in the summary/back office.

• Place order: FX Orders can be placed in the Order panel of the trade module, in the Forex Order Module or in the Prices and Trade module. Open the Forex Order module. Place an order and show how to create contingent orders (If Done and OCO) directly from the Order module.

• Go to Account summary: In the Open Positions section a number of icons are available for you to close positions immediately or to place an order related to the position. To make an easier closeout of one particular position the icon (close position) can be used, this icon will overwrite the FIFO rule. After EOD (23:00 CET) the Saxo Bank’s back office will download (05:00 CET) the positions that is netting out another trade, then another icon appears next to the position (the Trade Module icons): . The positions (netted) will disappear daily after the upload, that happens around 9:00-9:30 CET. When you use the (limit) and (stop) icons to add orders to an existing position, these orders are now visibly linked together as ‘One Cancels the Other’ (OCO) orders.

• Show a trade in the Price Module (Forex Spot). Highlight trading from the columns for FX Spot and the use of the Trade Panel.

• Trade forward outright (in the Trade Panel): show a trade and go to summary. • FX options: show a trade using the FX Options module. Draw attention to the Greeks, displayed in

the Risk Management portion of the trade module. Show how to enable Delta Hedging module (right-click and select ‘Display Delta Hedge’). Open a spot position using the built-in delta hedge feature. and go to summary – and see it as open position. Highlight the Greeks in the Position Details box.

• Go through the charts (e.g. use EUR/USD). Show that charts can be launched from the Instrument Explorer and Price Module.

• Show streaming news (DJN, AFX, MNI & UBS), analysis and chat facility with our Traders Placing Trailing Stop Orders

• One of the newest features added to the Client Station is the ability to place trailing stop orders for all product types. Trailing stop orders can be placed from any Forex module (trading ticket), i.e. Forex Trade, Forex Orders and the Prices and Trade Module. This section highlights the Forex Orders module, but the functionality is the same across all modules.


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• The Trailing stop consists of three steps, selecting the order type, setting the price and/or distance

to market and entering the trailing step. • The price level and distance to market fields are connected, as indicated by the link (highlighted in

red) above. The fields can be connected in three ways, allowing the client to choose the value he/she wishes to enter. The default setting is shown above, where the client enters the distance to market value. In this scenario, the trailing stop level will always maintain the distance to market set by the client. There are two other options:

o Setting the Price Level – The client can choose to set the price level of the trailing stop order. In order to enable the price field, click on the link highlighted above. If placing an order to buy, the price level needs to be higher than the spot price. If placing an order to sell, the price needs to be lower than the current spot price. The distance to market field will update as the market price moves.

o Setting both the Price and Distance to Market values – The client can also choose to set both the price and distance to market levels. To enable both fields, click twice on the link

until it appears as a broken link . This method is useful if the client wants to enter a distance to market that is lower or higher than the difference between the current spot price and the trailing stop level.

• Trailing stop orders can be monitored in the chart module (if Display Open Orders command is selected) and the Open Orders module (which displays all values associated with the trailing stop, i.e. distance and step values). The Open Orders module permits the client to edit both the price and distance to market levels for the trailing stop order.

Forex Options Trading • Introduce clients to the dedicated Forex Options Trade Module. The module functions just like the

Options panel in the Price list, but it also contains additional features, namely a built-in delta hedging function and a risk management panel displaying the Greek measurements associated with the options position.


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• To enable the delta hedging feature, clients should right-click within the Forex Options Trade ticket and select Settings > Open ‘Delta Hedge’ dialog after trade. Once a client makes a Forex Options trade, the Delta Hedge dialogue will open:


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• To hedge the options position, clients simply click Hedge Position.

Account Summary (Risk Management and Back Office):

• Show the cash side that offers an easy-to-follow, real-time statement of the current value of the trading account, including the value of:

1. Margin collateral held 2. Mark-to-market value of any open positions 3. The resulting cash value of any transactions awaiting settlement.


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• Show the margin side (how to view and calculate). Margin Risk Profile now present an overview of the total margin collateral including the: 1. Value of any security collateral 2. Prevailing margin requirements for positions held 3. Remaining collateral available to support any new traded exposures.

• Account Open Positions (show accumulated net positions and drop down window with all positions. Show how to place orders under open positions, plus how to deal out of one single position and all accumulated positions - in one go. Show the Historical Account information’s that allows you to see the ‘End of Day’ picture of open positions and account balances historically.

• Go through all the tabs:

1. “Account Overview” (if one or several sub accounts is available to this account – these have cross-covering margin).

2. “Summary” (just explained above/before). 3. “Exposure” (see net and coverage exposure on the account open positions, also per

single currency). 4. “Trading conditions” (Go through the Margin requirement for the different products

e.g.: -FX 2% margin on majors, on weekdays (4% in weekends) -Margin Call Profiles: 1’st - 2’nd - and 3’rd that is Stop/Close Out levels.

5. “Cash Transactions” (all funds in & out). 6. “Historic Cash Transactions” 7. “Reset Trial Account” (only on DEMO, where member can reset account). 8. “Account Statement” (see a sample of an daily online account statement) 9. “Trades Executed” (Show purpose of report and sorting functionality) 10. “Forex Rollovers” 11. “Forex Correction Report” (Available on Live accounts only) 12. “Trades Booked” (Show purpose of report and functionality) 13. “Activity log” (go through how to manoeuvre around in the activity log) 14. there after go back to Account Summary.

Advantages:

• When dealing with Saxo Bank (& you as the WLP), clients are dealing in a fully regulated and reliable environment. It is also cheaper to deal over the Internet than over the phone.

• 24-hour trading, currency prices always available for instant dealing. Forex Trading Hours, Saxo Bank is open for Forex trading from Monday 06:00 Sydney local time (currently Sunday 19:00 GMT) to Friday 17:00 New York local time (currently Friday 22:00 GMT).

• Today more than 140 different FX crosses are available for online trading.


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• Always tight spread (dynamic pricing – we say it’s the best available spread for retail clients in the market, "what you see is what you get").

• Our green prices: when we quote you a price it is guaranteed. Whether you buy or sell, your trade is executed immediately and you know exactly at what price you traded.

• Every trade is confirmed immediately after and seen in the summary/back office. • Take advantage of even small market movements – because of low cost. • No platform charges

Risk:

• When trading with HIGH gearing it’s possible to suffer big losses quickly.


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FUTURES Trading (an order routing system) Futures, how to trade (use the trade module)

• Go through the trade module (trade ticket) and make one trade (on financial future (“BUND”)). Buy one or more contracts / lots online. First buy as a ‘market order’, then as a ‘limit order’.

• Show the trade in the Summary/Back Office. And how to close a trade via the icon (close position), and when this can be done (this rule overwrites the FIFO rule).

• Place an order. When placing orders look under Terms. - Orders can also be placed from the Prices and Trade module. Show this functionality when reviewing Futures Orders. - Trailing stop, Stop and GTD orders are available for all futures exchanges. Show how to place a trailing stop order (described in the Forex section) and the different order durations available. - Remember that partial fills may occur on limit orders and the remaining amount stays in the market as a limit order and may be filled within the order duration. - Please be aware of the exchanges that support the various order types(see below):

Exchange Limit Market Stop Stop-limit

AMS x x x

COMEX x x x

GLOBEX x x x x

IDEM x x x x

IPE x x x

NYBOT x x x

NYMEX x x x

EUREX x x x

OSX x x x

PAR x x x

SGX-DT x x x

LIFFE x x x

ECBOT x x x

CME x x x x

MEFF x x x

EURO Paris (MONEP) x x x

TYO x x x

SFE x x x

Account Summary (just briefly as we have already seen it in FX) • But look extra under the tabs:

1. “Trading conditions” (Go through the Margin requirement for FUTURES: we give out same margin as the individual exchanges, first; Initial margin, then when


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traded the Maintenance margin. (Lower intra-day margin maybe possible in the future.)

there after go back to Account Summary. Instrument Tree

• Show the futures portion of the Instrument Explorer (e.g. see BUNDS on EUREX). Advantages by trading Futures via Saxo Bank:

• We support you with live, real-time streaming prices and discount trading rates for online trading.

• We offer online exchange traded financial futures (equity indices, currencies (IMM)), long- and short-term interest rates) and commodity futures (precious metals and energy futures). We do not support delivery.

• We now support more than 390 contracts in 83 futures and this number will grow!! (We are continually identifying more contracts that our partners and clients want to trade.

• All orders and trades are instantly confirmed. As soon as you have executed a trade on the trading platform, a detailed order confirmation will appear on your screen.

• Trading Financial futures and Commodity futures (e-minis/electronic) online through some of the world’s major exchanges including CBOT, eCBOT, A/C/E, CME, GLOBEX, LIFFE and EUREX.

• 24-hour access to your accounts, instantly updated with your trades and their latest market value.

• Level 2 Market depth available for GLOBEX, ECBOT and IPE exchanges. • No platform charges

Below is a map over the exchanges that we offer trading in. GREEN is ONLINE traded, and RED is OFFLINE traded (Offline is only available to SAXO clients).

Some points ‘good to know’ regarding FUTURES:

1. What is a FUTURE? A standardized, exchange-traded contract that is highly liquid and can require delivery of a commodity, bond, currency or cash at a specified price on a specified date in the future. (Saxo Bank does not support delivery.) Futures contracts are cleared through a clearinghouse that guarantees the performance of all the transactions among its members in return for maintaining margins. Compared to over-the-counter


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transactions such as forwards, swaps and FRAs, futures transactions carry virtually no credit risk.

2. Validity duration: Markets trade with settlement on predetermined dates (typically the

3rd Wed/Thurs/Fri of a contract month).

3. Raison d’etre; Price discovery – originated 18th century. Merchants trading commodities (e.g. coffee, cocoa, sugar…). Merchants would form a ring, 1st merchant “I sell at £20” 2nd merchant “I buy at £10” another merchant “I sell at £15”…..and so on until the market trades i.e., prices reached which satisfied both the buyer and the seller.

4. How is it priced? Cash market + cost of carry (cost of financing (interest + dividends)).

5. Contract specifications; Value of contract = nominal value per tick x contract price,

(Example: FTSE (Dec) = 4350 multiply by 1 point value £10 = £43.500 per lot).

6. Margin requirement: Margin follows the rules of the individual exchange. Short explanation on MARGIN for FUTURES: Margin should be viewed as a 'Performance Bond' on Futures Trades. Margin; Exchange Set. Exchanges use a system called SPAN (Standard Portfolio Analysis of Risk). This is a computer model that calculates range of possible changes in price. Worst case scenario equals = Initial Margin. The Initial Margin is 'normally' in the region of 6-8% of contract value, and is the minimum amount required in the trading account to instigate the trade. Variation margin (maintenance margin) = additional deposit required in case of adverse movements. In short -> margin requirement = Exchange Minimum. Variation margin is the amount required in the account, to hold the position over time. Everyday your position is mark-to-market and creates the amount of money required in your (clients) account to maintain the position. Please also read rules of ‘Initial margin’ and ‘Maintenance margin’ on our website (www.saxobank.com?ID=1140) – until you have updated your own website with this information.

7. Which markets: At the moment we offer Online exchange traded Financial Futures

(Equity Indices, bonds, currencies (IMM), long and short-term interest rates), Commodity Futures (Precious metals and energy futures) and Agricultures on real-time streaming prices.

8. Trading Hours, Initial and Maintenance Margin, Tick/Contract Size/value and Expiry

Date: please see this link: www.saxobank.com?ID=1140 until you have this information on your own website.

9. Contract Months:

F = January G = February H = March J = April K = May M = June N = July Q = August U = September V = October X = November Z = December


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The unique FUTURES “trading ticket” is displayed below – FOR DIRECT TRADING: Our futures trading module allows rapid order entry for direct order book participation, where you can:

• Trade at the current indicative market price (Limit Orders) • Join the current market price -- Buy at the Bid and Sell at the Offer Price (Limit Orders) • Trade as soon as possible (Market Orders)

The Futures “trading ticket” also features an order placement panel at the bottom of the ticket.


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The unique FUTURES “trading ticket” is displayed below – for PLACING ORDERS:

STOCKS ON MARGIN (CFD) trading


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CFDs: How to trade stocks on margin:

• Go through trade module and make a trade – in all different sizes (Green, Yellow and Red). Show the trade in the summary/back office. Remember that partial fills can occur if you aren’t trading on Green prices. Make a trade in the Prices and Trade module as well. Show trading from the columns (available for certain CFDs and trade sizes) and using the Trade Panel.

• Place an order. Show how to place a trailing stop order (follow same procedure as described in the Forex section above). Show how to change an order in the Open-order module and how to use the connected orders. Remember no Guaranteed Stops available.

• Estimate CFD interest (view the interest when selling and buying). • Charts (go through one; single stocks and/or indices, also see Instrument Information

module (launched with a right-click on the instrument in the Instrument Explorer, Prices and Trade module or dedicated trade module) with special chart).

• CFD indices (stock market indices) – the same as above.


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Account Summary (just briefly as we have already seen it in FX & FUTURES) But look extra under the tabs:

1. “Trading conditions” (Go through the Margin requirement for the different products) CFD Equity 10% margin, Index 5% margin.

there after go back to Account Summary. Instrument Information Show the ‘Information Information’ on CFD (see a single stock – also how it is compared to the performance index).

Advantages:

• We support CFD trading (Contract For Difference) on 22 different stock exchanges (over 3000 different stocks – 520 of them is MM) and in 11 major stock indices.

• Trading CFDs gives instant trading ability for the serious investor, who uses CFDs for the rapid trading capability they offer – there are instantly tradable prices (VWAP) for all CFDs where we are Market Makers, rest is STP.

• CFDs are a more efficient way to trade stocks - for the active or aggressive investor – you only need to have 10% in margin deposit to trade, meaning you can leverage your investment up to 10 times (long/short). Investments in CFD indices can be leveraged up to 20 times.

• Paperless trading - you do not have to worry about having it delivered to your custodian account, as with stocks. The CFD market is electronic (OTC), which requires no paper administration such as stock certificates, transfer forms and custodian fees. Unlike many international stock markets that still require a paper trail for the investor to account for any holding of stock quotes on a stock exchange, trading CFDs is efficient and rapid.

• A CFD is an instrument (derivative) that behaves exactly like the price of an individual stock. When trading CFDs you can both ‘BUY’ (go ‘long’) and ‘SELL’ (go ‘short’). There are no worries about borrowing stock or paying financing costs for selling, which makes it simple to ‘short’ the market – simply hit the ‘SELL button’ and buy back the CFD (stock) at any time in the future. When going short you will receive interest (e.g. LIBID –2,5%).

• Take advantage of even small market movements – because of low cost (e.g. 10 bps/0,10%) you can also easily make a large number of transactions without getting killed by high commissions.

• CFD trading can also be used as a hedging tool against your ‘real’ stock portfolio, simply by selling the CFDs – but without selling your ‘real’ cash stocks.

• We support multi currency accounts (USD, EUR, CHF and so on). • Clients can view Level 2 Market depth by entering into exchange agreements with the

specific stock exchange. Market Depth is available on the CSE, AMS, BRU, LISB, PAR, FSE, LSE, OSE, SSE and AXS.

• No platform charges

Risk: • When trading with high gearing, there’s a risk of losing money quickly, so CFDs are not

for everyone. • Financing costs will be charged when buying (e.g. LIBOR +3%) on long positions, this

may be substantial on long-term positions, just as they would be if you undertook traditional margin trading. So you should always keep an eye on the costs associated with maintaining a bought position for a longer period of time. (Short positions incur no financing charge).


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CFD Exchange DMA (STOCKS ON MARGIN) for the very active trader Direct Market Access: Please be aware that there are no Direct Market Access trading or Level 2 screens in the online demo – Only DMA on the LIVE application. This is because of the Exchange requirements and live quotes. However, on the DEMO application you can use the normal CFD (Quote-Driven trade module) to become familiar with the platform as a whole. CFD, how to trade stocks on margin:

• Go through trade module and make a trade. Show the trade in the summary/back office. • Place an order. Show how to change an order in the Open Order module. • Estimate CFD interest (view the interest when selling and buying). • Charts (go through one; single stocks, and see Instrument Information with special

chart). Account Summary/Risk Management System.

• Please see the Account section in FX and Futures – where this system is described in detail.

Margin trading:

• Look at MARGIN ‘Trading conditions’ (Requirement is 10% margin) • Margin Call Profiles (Look at Margin Calls #1 and #2 and #3 Auto Stop Outs)

The unique Direct Market Access “trading ticket” is displayed below:


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Advantages: • We support CFD Exchange DMA trading on 19 different stock exchanges – this figure will

increase. • Trading CFDs gives instant trading ability for the serious investor, who uses CFDs for the

rapid trading capability they offer – there are instantly tradable prices. • CFDs are a more efficient way to trade stocks for the active or aggressive investor – you

only need to have 10% in margin deposit to trade, meaning you can leverage your investment up till 10 times (long/short).

• Paperless trading, you do not have to worry about having it delivered to your custodian account, as with stocks. The CFD market is electronic (OTC), which requires no paper administration such as stock certificates, transfer forms and custodian fees. Unlike many international stock markets that still require a paper trail for the investor to account for any holding of stock quotes on a stock exchange, trading CFDs is efficient and rapid.

• A CFD is an instrument (derivative) that behaves exactly like the price of an individual stock. When trading CFDs you can both ‘BUY’ (go ‘long’) and ‘SELL’ (go ‘short’). There are no worries about borrowing stock or paying financing costs for selling, which makes it simple to ‘short’ the market – simply hit the ‘SELL button’ and buy back the CFD (stock) at any time in the future. When going short you will receive interest (e.g. LIBID –2,5%).

• Take advantage of even small market movements – because of the low cost (e.g. 10 bps/0,10%) you can also easily make a large number of transactions without being ‘killed’ by high commissions.

• CFD trading can also be used as a hedging tool against your ‘real’ stock portfolio, simply by selling the CFDs – but without selling your ‘real’ cash stocks.

• We support multi currency accounts (USD, EUR, CHF, etc.). • No platform charges


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Risk: • When trading with high gearing there’s a risk of losing money quickly. • Financing costs (e.g. LIBOR +3%) will be charged on long positions (this may be

substantial on long-term positions) just as they would be if you undertook traditional margin trading. So you should always keep an eye on the costs associated with maintaining a bought position for a longer period of time. (Short positions incur no financing charge).

FAQs (Why Direct Market Access, Pricing, Trading styles). What is Direct Market Access (DMA)? Direct Market Access (DMA) trading is simply buyers and sellers interacting directly within the stock exchange order book. It facilitates the placing of trades directly to the exchange, where the orders are visible on the order book. One of the major benefits of Direct Market Access is that traders can place orders to buy on the bid price, sell at the offer price, or place limits within the "yellow strip" bid/offer spread, thus saving the standard cost of the dealing spread. Effectively, traders make their own markets. Most CFD and stock traders are more used to having to pay the offer price or sell the bid price of a market made to them. Direct Market Access means you take control of the prices at which you wish to trade. How do you know whether a client should trade DMA or ‘normal’ CFDs? It really depends on your client’s knowledge of trading as well as on which stocks he/she trades. If the client is a scalper, and relies heavily on Level 2 data and on placing large orders, or prefers to have full control of the trading spreads, then he/she might want to explore using Direct Market Access when trading CFDs. What if the client’s trading style is like a ‘scalper’? If the client is a scalper (i.e. he/she likes to trade inside the spread in less liquid stocks) then DMA is far more efficient. DMA enables the trader to deal at the spread price by joining the buyers on the bid, or joining the sellers on the offer, allowing the client to cut out the spread price and ultimately have more control over the costs. Can traders participate in the auctions? YES, DMA allows traders to participate in the opening, closing and intraday auctions, which are not generally available to normal CFD traders ("Market Making" models). The auctions are considered highly important because traders get access to the market pre-open and post close, when many large institutions are trading and potentially indicating their strategies. The necessity for some institutions to fill their orders often provides traders with the opportunity to trade at better prices than would be available with a normal CFD. If the client’s trading style is mainly position trading, is DMA for him/her? A position trader is better suited to normal CFD trading. Since position traders are accustomed to buying or selling at market and deal mainly in large stocks, tight spreads and reasonable liquidity, it's more likely they will be satisfied with paying the offer price or selling the bid price. They will benefit from the VWAP technology, and financing and margin rates are the same for both DMA and normal CFDs. Does DMA support stop, limit and contingent orders? DMA does not facilitate orders other than daily limit orders as the exchanges do these, so a DMA trader can use the normal CFD to place their contingent orders such as Day Stops or even Good Till Cancelled (GTC) stops. This enables the client to protect his/her DMA trade(s) when he/she needs to take time away from his/her computer. In this case, the normal CFD product has a multitude of capabilities to suit these needs.


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===================================================== Please also read more about CFD Exchange DMA at this link on our website:

http://www.saxobank.com/?id=921&Lan=EN&Au=1&Grp=5

The Client Station Glossary The following list of terms and definitions is designed to familiarize you and your clients with some of the terms used within the Client Station.

Workspace A workspace contains the entire Client Station layout, including Views and any customised module settings. The Client Station allows you to save any number of workspaces as separate files (.cs2 files). Client Station comes with a number of default workspaces that the client can select when he/she first downloads the platform. New workspaces can be loaded at any time by selecting File > Open.

View A view is a single tab within a workspace. Views can be added, deleted and named according to clients’ preferences. When a workspace is saved, all of the views are saved with it. The default workspaces contain several pre-made views that are dedicated to particular functions, e.g., trading, account monitoring, analysis, etc.

Module A module is a functional component of the Client Station that performs a specific task, e.g. the Prices and Trade module, the Charts module, etc.

Panel A panel is a particular format in which a module can be displayed. Panels can be docked, float or auto-hidden when they are not in use.

Document A document is a format in which modules can be displayed. Documents fill the available space within a view. This format is best suited for larger modules, e.g. the Prices and Trade or chart modules.

Auto Hide Auto Hide is a format that hides a panel from view. This allows clients to maximise space within a view by hiding a module that is not in use all of the time. Once auto-hidden, a panel appears as a small box on the side of the view. To view a panel that is auto-hidden, float the cursor over the box and it will re-appear.

Dock Dock is a format that glues panels to a view, i.e. places them in a fixed position. The Client Station comes equipped with a series of guides designed to help clients dock panels around the view.

Float Float is a format that allows panels to float above


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the workspace. They can even be moved to another screen. If a panel has the ‘Always float’ option selected, it cannot be docked.

Instrument Explorer The Instrument Explorer contains all of the instruments available within the Client Station. It has a search function that allows clients to search for instruments by name or symbol, and a favourites function that allows clients to create lists of frequently-traded instruments for easy reference and location.

Prices and Trade The Prices and Trade module is a fully functional price board that facilitates price monitoring of all instruments within the Client Station. It also contains a trade panel from which clients can trade and place orders on live prices.