The Account Market Limits uses the same checkbox functionality as the FCM Dynamic Default Market Limits page. Account Market Limits can override FCM settings.
There is a checkbox next to All commodities, All US commodities, All non-US commodities, the exchanges, commodities, instruments and contracts. If you click on the dropdown next to the checkbox for “All commodities” you will see a green square and a red square. This is an explicit setting. Checking the green boxes enables trading for all commodities. Checking the red box prohibits trading for all commodities. However, these settings can be overridden on an individual basis down to the contract settings.
Here “All commodities” is set to prohibited for trading from the FCM Dynamic Default Market Limits page (the box is red), but the CME/Globex is enabled for trading from the Account Market Limits page (the box is green).
However, the FCM Dynamic Default Market Limits pages has a way to lock settings and prevent the settings from being overwritten from the Account Market Limits page.
Next to each check box in the FCM Dynamic Default Market Limits pages there is a greyed out image of a padlock. Left-click the image and it’s appearance will change to a locked state. Hover your mouse over the image and a tooltip will appear display the state of the lock. Left-click again to unlock the setting. When this setting is locked, the setting cannot be overwritten from the Account Markets Limits page.
Below, “All commodities” are prohibited from trading, the CFE is enabled for trading, but Bitcoin is set to prohibited (the checkbox is red) and the commodity setting is “Locked.” The Account Market Limits page cannot override this setting.
When the Accounts Market Limits page is opened, any value that violates parameters is indicated with a message at the top of the page:
Also displayed is a list of limits that are not enforced:
Market Limits fields
The Accounts Market Limits has three tabs: Parameters, Trade price limit (ticks) and Trade price limit (percent). The values can be set to Unlimited or Limited and you will then enter a value.
|
Column |
Description |
|
Position Limits |
Override default position limits that were set on the Risk Parameters page. You can set higher or lower limits for particular commodities or exchanges without changing the default for all commodities. It’s also possible to set per-contract position limits based on the number of business days until expiration, thereby providing a way for FCMs to limit their positions and, therefore, risk as the expiration date nears. “Number of business days” includes holidays; that is, holidays are considered regular business days in this calculation. Additionally, instrument cutoff time is used, so a day is calculated from the exchange’s point of view, not UTC. This expiration-based risk control is not set for a specific contract month. It applies to any contract month that expires within the number of days from expiration that you set. |
|
Trade Size Limits |
Override default trade size limits set on the Risk Parameters page by assigning new limits to particular commodities or exchanges. |
|
Margin Multiplier |
This value is applied to the calculated margin requirement in order to obtain an account's effective margin requirement. Allowed values: 0.01 to 100.00 For all commodities, only a specific value can be set. Must be greater than or equal to the minimum configured margin multiplier. Does not apply to individual instruments. |
|
Trade Price Limits |
Override default trade price limits that were set on the Risk Parameters page by assigning new limits to particular commodities, exchanges, or instruments. Real-time prices are used for trade price checks. If real time prices are not available, then delayed prices are used, if FCM settings allow it. If neither real-time nor delayed prices are available (or allowed), then the order is rejected. If market has no prices yet, such as with a new contract, then a price check cannot take place. Checks exclude synthetic strategies, cash spots, user-defined strategies, and specific daily futures. |
|
LTD Limit (Days from now) |
The setting LTD Limit (days from now) allows you to prohibit trading if the last trading day is more than N business days from today. You can make this setting for “All commodities” and then set it individually for exchanges, commodities, and instruments (not for contracts). Last trading day limit (not for contract) N next business days can be set to unlimited, inherited or if you select limited you will be prompted for a value. This setting can be locked at the FCM level and the Account Market Limits page cannot override the setting. “Business days” includes holidays; that is, holidays are considered regular business days in this calculation. Additionally, instrument cutoff time is used, so a day is calculated from the exchange’s point of view, not UTC.. |
Set commodity, instrument position, contract position, trade size, margin multiplier and LTD limis by clicking the arrow to open the dropdown menu..
Permissions associated with this page
CAST Users > CAST Permissions > Risk Management > Account > View Market Limits
CAST Users > CAST Permissions > Risk Management > Account > Modify Trade Price Limits
CAST Users > CAST Permissions > Risk Management > Account > Modify Trade Size Limits
CAST Users > CAST Permissions > Risk Management > Account > Modify Fungible Commodities Positions Limits