What is an order in LUSID?

An order in LUSID represents a request to buy or sell a particular quantity of an instrument for a portfolio. 

For example, as a Portfolio Manager, you might decide to acquire 150 AAPL US equity shares for your portfolio. You can create an order in LUSID and check the order passes pre-trade compliance. A Trader can then pick up the order, and go through blocking, placement, and so on.

Creating an order forms the basis of LUSID's order management system, so you might think of the entire flow (shown above) from order creation to portfolio rebalancing as an ‘order lifecycle'.

You can create as many orders as you need at once by selecting:

• An instrument

• A side (such as buy or sell)

• A quantity.

• Optionally at this point:

  • Whether it’s a market order, limit order or stop order (alongside a limit or stop price)

  • How long the order should remain in effect for, whether that's until a certain date or until the order is cancelled

You can then proceed to running pre-trade compliance checks and blocking similar orders. How do I create an order?

LUSID provides you with lots of flexibility when creating orders:

• LUSID can suggest the orders to generate after rebalancing your portfolio.

• You can create orders outside of LUSID, while LUSID stores a record of the order.

• You can manually create orders to reflect any other order creation activity, or use LUSID's Scheduler to automate such processes.