The first step in setting up spreads, prior to setting calculation parameters and trading preferences, is understanding how to write a spread formula.
While spreads can be set up and traded directly on CQG IC trading applications, it’s best to create a spread QFormula. QFormulas are created on Formula Builder.
Once you have the spread set up, you can place a spread order in the same ways non-spread orders are placed. For instance, you can drag and drop on DOMTrader or use buy and sell buttons on Order Ticket.
Tip: If you have a DOMTrader or Order Ticket for one of the spread legs open, you can place non-spread orders for that symbol on that DOMTrader or Order Ticket. For example, you’re working CLE-ET. You have three DOMTraders open: CLE-ET, CLE, and ET. The CLE and ET DOMTraders display the legs for the spread order. You can place another order for CLE on the same DOMTrader, even though that order is not part of the spread. In this way, you can add stop orders to a leg for added protection. Use the spreads button to show and hide non-spread orders.
Note: When the spread and its legs are displayed (for example: DOMTrader CLE-ET, DOMTrader CLE, and DOMTrader ET): If you change the account in the spread (CLE-ET), then the account changes for all open legs (CLE, ET). If you change the account on one leg (CLE), the account for the spread (CLE-ET) and other leg (ET) do not change.
Note: Speculation Type was introduced in response to MiFID regulations. It is relevant only if Speculation Type applies to the instrument or leg instrument (in the case of strategies) in use.
You can specify Speculation Type only for strategy legs and not for the entire strategy order. Use the drop-down menu on the order confirmation window. In nested strategies, Speculation Type can be set only for the lowest level of outright legs.