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Execute bulk trade orders

If your bulk trade order is updated with the execution details for example via a trading integration, it is recommended to execute bulk and client orders in one go. If you need to define the execution details manually, use the manual approach described in Manually execute trade orders.

Execute bulk orders

  1. Go to the Trade orders view and search for the bulk trade orders that you want to execute. To find the orders, you can use, for example, the portfolio group >Bulking Portfolio together with trade order statuses or transaction dates.

  2. At the bottom of the screen select either Bulk → Execute bulked trade orders or Bulk → Execute valid bulked trade orders directly. The former option presents you with a confirmation screen of the orders to be executed. The latter option executes the orders directly without any additional confirmation.

Note

The Execute valid bulked trade orders directly functionality is only available if you have the role TOM_BA specified. You can also use this functionality for example to schedule bulking.

Bulk trade order execution logic

You can execute trade orders in the bulk portfolio that are fully or partially executed in the market. Executing an order in the bulk portfolio executes all underlying client orders as well.

Partially executed trade orders have the status Partially executed in the market. Only trade orders with Units as the execution method can be partially executed. Partial execution distributes the units to the underlying orders and leaves the trade orders intact. When you make another execution, the system takes into account already distributed units, fees, and taxes. Only after the bulk trade order is fully executed in the market, the final execution completes all underlying orders as well.

  1. The system starts the bulk trade order execution by collecting details from the bulk trade order and the underlying client orders. The collected information includes:

    • Units - The amount of the bulk trade order and the sum of the amounts in the underlying client orders. If a bulk trade order was partially executed, the previously distributed units are also considered.

    • Trade amount - The trade amount of the bulk trade order and the sum of the amounts in the underlying client orders.

    • Account FX and report FX rate - The FX rates used from the bulk trade order. These FX rates are copied to the underlying orders.

    • The costs and distributable taxes from the bulk trade order - If there were partial executions, the previously distributed costs and taxes are also considered.

    • Unit price - The unit price from the bulk trade order is copied to the underlying orders.

  2. The system processes the underlying client orders one by one:

    1. Calculates the fair share for each order. Depending on the execution method, this is either the trade amount of the order divided by the remaining bulk trade order trade amount or the order amount divided by the remaining bulk trade order amount. If you made any partial executions for the bulk order, the previously distributed units are also considered.

    2. Calculates the units based on the fair share as share * remaining units, and rounds the result to the decimal count of the security. The rounding alternates between half-up and half-down rounding modes.

    3. Recalculates the share with the received units and divides fees and taxes relative to the share. If partial executions were made for the order, previously distributed fees are also considered.

    4. Updates the remaining bulk units, trade amounts, and fees between processing each order before moving on to the next one.

    5. Assign the remaining units to the last underlying client order.

    6. Updates FX rates and unit prices in all orders to those of the bulk order.

  3. If the bulk order was fully executed in the market, the bulk order and all underlying orders are assigned the Executed status.

  4. The executed trades are saved as transactions.

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