How do I create an order?

You can record the details of a request to make a new trade by creating an order for one or more instruments.

There are several ways to create an order in LUSID:

• Using the LUSID web app:

  • Generating orders in the Rebalance dashboard

  • Creating orders for a single portfolio in the Order Blotter

  • Creating orders for multiple portfolios in the Order Blotter

• Using the LUSID REST API

Generating orders in the Rebalance dashboard

You can generate one or more orders at a time using the Rebalance dashboard in the LUSID web app. To do so:

1. Sign in to the LUSID web app.

2. Navigate to Portfolio Management > Rebalance via the top left menu.
   

3. Select a Portfolio / Group to rebalance, and either:

   • A portfolio valuation Recipe

   • A Portfolio mapping

4. Enter or generate target values for instruments in your preferred way, such as:

   • Using the control panel to rebalance to your portfolio mappings or models, spend cash across selected instruments, or achieve various other tasks

   • Entering targets manually, for example targeting analytic values

   • Importing targets from a CSV file

   • Using your own rebalance algorithms

   

5. Click Generate orders.
   

6. Use the Generate orders pop-up screen to:

   1. Check your orders, including breaches and warnings, and make any adjustments. You must check the box to approve any outstanding breaches and warnings.

   2. Check the Block all relevant box if you wish to group your matching orders into blocks.

   3. Check the box if you wish to Perform Pre-trade Compliance check.
      

7. Click Create to generate your orders.

If you choose to run a pre-trade compliance check on your orders, LUSID displays the results immediately:

Note

It’s possible to grant privileged users the ability to override compliance failures on orders. See how.

Once generated, you can manage your orders using the Order Blotter dashboard.

Creating orders in the Order Blotter

Currently, you can use the Order Blotter to:

• Create one order for a portfolio at a time

• Create an order for one instrument across multiple portfolios

Orders for a single portfolio

1. Sign in to the LUSID web app.

2. Using the top left menu, navigate to Portfolio Management > Order Blotter.
   

3. Click Create order.
   

4. Select Single portfolio.

5. Follow the instructions on the Create order screen.
   

6. Click Create to generate your order.

Orders for multiple portfolios

1. Sign in to the LUSID web app.

2. Using the top left menu, navigate to Portfolio Management > Order Blotter.
   

3. Click Create order.
   

4. Select Multi-portfolio and specify the following:

   • Instrument: Choose the instrument you want to create an order for; read more on setting trading conventions and lot sizes

   • Portfolio/group: Select one or more portfolios/groups you want to include in your order calculations

   • Recipe: The recipe to apply to your Calculation & preview grid

   • Portfolio market value: Choose whether LUSID should calculate the portfolio market value or retrieve the value from a portfolio property

   • Price: If a quote is not available in the LUSID quote store, set an example price for use in the Calculation & preview grid

   • Calculation methodology: Choose how LUSID calculates order quantities for the selected portfolios; see the Appendix for more details

   

5. Use the Calculation & preview grid to make adjustments to your orders such as the Time in force and Type.

6. Click Create to generate your orders as displayed in the grid.

Once generated, you can:

• Monitor and update your order; see how.

• Run a compliance check; see how.

• Block your orders together, ready for placement; see how.

Appendix: Calculation methodology

Each calculation methodology determines how LUSID works out the order quantity for each portfolio. Note that selecting a methodology changes the parameters shown above the Calculation & preview grid.

Manual entry

You set the order quantity or order value for each portfolio directly in the grid. LUSID doesn't calculate anything for you; it retrieves each portfolio's current position and market value so you can make an informed decision, then calculates the resulting values as you type.

Target weight

You set a target weight for the instrument, or for a property on the instrument, and LUSID calculates the order quantity needed to reach that target in each portfolio.

Pro rata

You set a total quantity or exposure to allocate across the selected portfolios, and LUSID distributes it in proportion to each portfolio's existing exposure.

Align exposures

You set a total quantity to allocate across the selected portfolios, and LUSID distributes it so that exposure is brought to the same weight across all of them.

Hedge exposures

You select a hedge instrument and define the exposure you want to hedge, along with how much of it to cover. This methodology is intended for cases where the hedge instrument differs from the exposure being hedged, for example hedging sector exposure using a futures contract.

Close position

LUSID calculates the order quantity needed to bring the current position in the selected instrument down to zero in each portfolio.