CREATING A NEW BROKER
1. Go to OMS.
2. Click on Open Maintenance.
3. Click on Broker: Setup/Edit Brokers.
4. Click New.
5. Enter the broker code and name. The Broker code FIX is something that Athena has to set up in order to send and receive FIX messages.
6. Click save.
You can create as many brokers as you want. If you want to disable a broker, just click on the name and set Active = FALSE, the save.
After creating a new broker…
1. Click on Broker: Setup/Edit Commissions.
2. Click New.
3. Commission scale (only if your commission is scaled): this is the first field you will need to fill. This field is used for brokers that have a scaled commission. For Example: Shares between $0-$1 = 0.005 CPS, shares between $1-$2 = 0.010…You can also set this up by Value, and Quantity. This will be further explained bellow.
4. Commission Name: You can assign a commission name.
5. Commission Type: You can select what type of commission you would like: CPS, BPS, SCL (select this if using a scale commission), ABS.
- ABS: absolute value.
- CPS: cents per share.
- BPS: bases points.
- SCL: scale
6. Commission value: When entering a CPS commission, you will need to enter $0.01 for a one cent per share commission. If you enter 1, it will default as $1.00 per share.
7. Exchange ID: If you want to have a particular commission for an exchange ID, then enter the ID in this field. If the Commission does not have an exchange ID, it will always default to that commission. Example: You trade in US and in the London Stock Exchange and you want a different commission for the London Exchange. You will have to set up the commission with XLON as the Exchange ID, save it and then you will have to make a copy and remove the XLON for the other commission. This way, any securities traded through that broker in XLON will have a different commission than any securities traded through that broker in other exchanges.
8. Security ID: You can use this like the exchange ID, but in this case it would be security specific.
NOTE: When using Exchange ID or Security ID, you will have to make copies of that commission for different exchanges and securities.
9. Security Type ID: this field indicates for what type of security you want a certain commission. If you want a commission of 0.005 CPS for every Equity, you will have to create one commission value for each equity type we have in the system: COMMON, ETF, GDR, ARTNERSHIP, PREF, REIT, RIGHT, TRS, UNIT, WARRANT and OTHER.
- Broker = GS.
- Your commission will look like:
- GS Equity Common = 0.005
- GS Equity ETF = 0.005
- GS Equity GDR = 0.005
If you also want them to have an exchange ID, like the example on page 4, you have to create them all with ExchangeID = XLON, and ExchangeID = (blank) – for all securities not traded in XLON.
10. Transaction Type: this also works like ExchangeID and Security Type. You can create commission for certain transaction types.
HOW TO INSERT SCALED COMMISSIONS
Once you select SCL on Commission Type, a grey box will appear on Commission Scale. Click on it and the Scale Editor dialogue will appear:
1. Select the scale VALUE, PRICE or QUANTITY.
2. Enter a Minimum Commission.
3. Enter a Maximum commission.
4. Enter your lower / upper threshold, the value and the type.
When inserting a lower and upper threshold and value, your values will change when you click away. If you click on the value again, you will see that the value you entered is still there.In the example on page 6, if the value is lower than $1, then the comm = 0.005 CPS, if the value is greater than $1, but lower than $2, comm = 0.010 CPSWhen you are done, click SAVE.
NOTE: This will need to be done for each asset class. For example: You cant just set it up once for options and be done. You have to create one commission value for PUT American, one for CALL American, one for PUT EUR…and so on.