Key Features of the Envex OTC

Monitor market activity at a glance

Orders can be displayed transparently on each market screen whilst protecting the identity of individual traders. These are managed or traded with mouse-based controls. Clear visual codes enable easy monitoring of market prices.

• Your prices are shown in blue; a black underline indicates that someone has “joined your price”.
• Prices managed by other dealers in your organisation are shown in green.
• Counterparty prices are shown in black.
• A red box indicates bad credit. Hovering over the price will reveal what the rest of the market sees.
• Calendar spreads are automatically calculated and displayed with a red underline to indicate they are switch dependant.  The automatic calculation and display of derived prices from orders maximises liquidity, ensuring participants are given every opportunity to trade at their preferred levels, in their preferred amounts.

Streamlined order placement

Pre-loaded default prices make order entry quick and simple. Control features for out of market levels, large amount warnings and inverse price boundaries all assist participants to ensure that the right order is entered first time. Orders can be customised for your specific requirements, options include:

Hidden best prices will display your order at the price you prefer, while automatically offering/bidding prices up to your final “best” price
Iceberg volumes allow orders to be displayed in the size you want visible while automatically offering/bidding further volume when hit.

A user defined “Cancel at” time allows you to choose when your order will expire.
The CP view feature allows you to switch from your customised screen view to see how your prices are displayed to others in the market.

Flexible order management

Current orders can be changed by left clicking. This brings up a menu which enables you to amend trade prices and volumes or cancel the trade altogether. The Mercari Direct private messaging service lets you chat directly with your broker or the Mercari support team at any stage during trading.
The negotiate feature allows dealers to show an improved price to selected counterparties who have an existing price in the same run providing an opportunity to enter into direct and anonymous negotiations without showing an interest to the entire market.

 

Trade at the click of a button

Prices can be “hit” by right clicking and selecting “trade”.
Once you have agreed to trade, the details of your counterparty to the trade will be shown to you for the first time. All orders and deal placements are time logged to ensure that orders are fulfilled equitably in sequence.

Once a price has been hit, a screen with credit details pops up. Once credit is approved by both sides, a confirmation is automatically generated by the Mercari ECN. Dealers can use the deal discuss feature to negotiate special terms or revise details.