You can record the details of a request to send an order block to the market for execution by creating a placement.
There are several ways to create a placement in LUSID:
Using the Order Blotter in the LUSID web app
You can create one or more placements at a time using the Order Blotter. To do so:
Sign in to the LUSID web app.
Navigate to Dashboards > Order Blotter via the top left menu.
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Ensure the blocks you wish to place have passed pre-trade compliance.
Select one or more blocks for placement.
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Click the Menu icon > Place orders.
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Specify the following:
Your placement method from the Entry Type dropdown, for example EMS.
Note: If you select Undecided, LUSID chooses an option for you.
If using an EMS, select your Execution System from the dropdown. If your preferred EMS is not listed, contact support.
The Quantity you want to place from the block. Note you do not have to place the entire block at once.
A Time in force for the placement
Optionally, the placement Counterparty
Any additional Properties you wish to attach to the placement
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Click Create to finish creating your placement.
Your next steps depend on your chosen Entry Type:
If sending your order to an EMS for placement, note the Placement code (for example,
PLA-001) and use the EMS to execute your order.If trading with a broker, your broker receives the placement and executes your order.
If recording external placements in LUSID manually, place your orders as usual. You must then record your executions in LUSID. See how.
Once you have placed your order block, you can monitor your blocks in the Order Blotter and wait to receive your executions (provided you are not creating your executions manually).
If you encounter issues or errors, read the next section on troubleshooting.
Troubleshooting placements with third party providers
My placement failed because the connection to my third party provider went down
If a placement or execution fails due to a connection with your EMS or broker being down, you should do the following:
Create a manual placement using either:
The Order Blotter (see step 6c above)
UpsertPlacements API
Create one or more manual executions. See how.
View the current state of your blocks in the Order Blotter and allocate as usual.
If you need assistance, contact support.
My placement made it to my third party provider but I haven’t received executions
If you successfully send your placement to your EMS or broker but fail to receive any executions back, you should do the following:
Create one or more manual executions. See how.
Monitor your executions to check for duplicates in the event you receive them after a delay. If you receive a duplicate execution, manually cancel the duplicate. See how.
If you need assistance, contact support.
How do I restart trading?
You can cancel a placement that has yet to be executed fully via the Order Blotter by selecting the Menu icon > Cancel remaining quantity.
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Once cancelled:
If you placed your trade with an EMS or broker, LUSID sends them a cancellation message. Please note your EMS or broker can choose to reject your cancellation.
Note: Your EMS or broker can choose to reject your cancellation. Any errors resulting from this must be investigated on the EMS/broker side. LUSID will continue to receive any executions that are subsequently sent.
If you receive any errors, these must be resolved via your EMS or broker.
If the placement has been partially executed, you still receive the partial executions. For partial executions, your allocations are distributed as usual according to the allocation algorithms. Read more.
LUSID stores your placement as Cancelled for your records.
You can place the remainder of your cancelled placement’s block as a new placement. To do this, simply create a new placement as usual.
If you need any assistance following a cancelled placement, contact support.