2. TradeMind
A complete suite of trading algorithms
TradeMind is a complete trading solution, designed to provide the user with a full algorithmic
trading power. Built-in strategies, an integrated real-time market data feed, and wide market
coverage make TradeMind a fast and reliable nexus for your trading strategy.
BENEFITS OF TRADEMIND
Productivity
Integration
TradeMind enables you to:
TradeMind provides seamless integration
with your order flow.
Maximise the efficiency of your trading process
Handle higher order volume
Minimises execution risk
Accessibility
Control
TradeMind lets you make algorithmic orders through
multiple electronic venues, including:
TradeMind keeps you in touch and in charge through:
Bloomberg
GLWin and GL NET
Ullink.NET
Direct FIX connections
MARKET CONNECTIVITY
The system can route orders to any equity market through:
FIX protocol connections
GL SLE API
OMX API
A real-time market data feed can be integrated with:
QuantHouse QuantFEED
Bloomberg B-Pipe
GL SLC API
OMX API
Real-time updates of the order execution
A web-based user interface to monitor and control
the order flow and strategy execution
An execution audit trail

3. Strategies
The core of TradeMind is a suite of highly configurable trading algorithms, each of which can be easily
routed to any equity market via any standard protocol. Whether you need a strategy that focuses on target
volume, volume or time-weighted average price, or hidden orders, TradeMind can help you reach your goal.
TVOL - Target Volume
The TVOL strategy trades an order so as to achieve optimal target
volume participation.
START TIME - Specify the time you wish to start trading. If this field is left empty, TradeMind will
start trading as soon as it receives the order.
END TIME - Specify the time you wish to stop trading. If this field is left empty, TradeMind will
finish trading before the closing auction.
% OF VOLUME - Specify the target volume participation (MANDATORY FIELD) on the TVOL order.
OPENING - Select YES if you want TradeMind to participate in the opening auction. At the
preconfigured time before the opening, TradeMind checks the Theoretical Opening Quantity
printed by the exchange and sends an order to participate accordingly. TradeMind does not
monitor the quantity during the last ten seconds. As a result, executed quantity might not match
the desired level of participation.
CLOSING - Select YES if you want TradeMind to participate in the closing auction. One minute
before the official exchange close time, TradeMind checks the Theoretical Closing Quantity
printed by the exchange and sends an order to participate accordingly. TradeMind does not
monitor the quantity during the last minute, so the executed quantity might not match
the desired level of participation.
STYLE - Select a trading style: Passive, Normal or Aggressive. Passive will trade with discretion,
while Aggressive will tend to be ahead of schedule.
SHOW QTY - Enter the display quantity for all the child orders sent by TradeMind.
WOULD PRICE - Define the price at which the strategy will place all the remaining quantity and
at which the user is willing to complete the order. If used, the remaining order quantity will be
continuously placed on the indicated would price in case there is a large move in the market.
ACCUMULATE VOLUME - If you select YES, TradeMind will accumulate the volume from all
available markets and not just the primary exchange.
MIN ORDER AMOUNT - Set the minimum child order quantity expressed in euro that will be sent
by TradeMind.
price
participation rate (%)
limit
EXAMPLE
DESCRIPTION
Buy 10 000 BMW, participate at
30% of volume, start at 10:00h, but
stop at 14:30h if it has not already
been finished, and do not pay more
than 30.00.
ENTERING THE ORDER
Enter BUY order for 10 000 BMW
with limit price set to 30.00
and fill the TVOL parameters:
> Start Time = 10:00h
> End Time = 14:30h
> %of Volume = 30

4. TVOL Threshold - Target Volume with Threshold
The TVOL Threshold strategy trades an order so as to achieve optimal
target volume participation, with the possibility of changing the target
volume participation when the threshold price is reached. It has four
more parameters than the classic TVOL strategy – Threshold Price #1,
Threshold % of Volume #1, Threshold Price #2 and Threshold %
of Volume #2.
THRESHOLD PRICE #1 – Specify the price that will trigger the Threshold % of Volume #1.
THRESHOLD % OF VOLUME #1 – Specify the target volume participation that will be used when
the Threshold Price #1 is reached.
THRESHOLD PRICE #2 – Specify the price that will trigger the Threshold % of Volume #2.
THRESHOLD % OF VOLUME #2 – Specify the target volume participation that will be used when
the Threshold Price #2 is reached.
threshold 1
EXAMPLE
DESCRIPTION
Buy 10 000 BMW, participate at
30% of volume, start at 10:00h,
but stop it at 14:30h if it has not
already been finished, and do not
pay more than 30.00. If the price
goes over 29.90, decrease
the participation to 25%.
ENTERING THE ORDER
Enter BUY order for 10 000 BMW
with limit price set to 30.00 and fill
the TVOL THRESHOLD parameters:
> Start Time = 10:00h
> End Time = 14:30h
> %of Volume = 30
> Threshold Price #1 = 29.90
> Threshold % of Volume #1 = 25
price
threshold 2
participation rate (%)
TVOL Illiquid
The TVOL Illiquid strategy is a version of TVOL. It will place additional
orders down the book to get good executions in fast-moving and
nervous markets. Placing additional orders allows us to obtain a better
price and stay in line with the volume of the market. It has the same
parameters as the classic TVOL strategy.

5. VWAP - Volume Weighted Average Price
The VWAP strategy spreads trade out to match the forecasted volume
pattern for a given period while overweighting and underweighting certain
periods based on short-term price forecasts.
START TIME - Specify the time you wish to start trading. If this field is left empty, TradeMind will
start trading as soon as it receives the order.
END TIME - Specify the time you wish to stop trading. If this field is left empty, TradeMind will
finish trading before the closing auction.
MAX%VOLUME - Specify the maximum volume participation in the VWAP order. TradeMind will pause
the trading if the participation in the total market volume is higher than the volume you indicate.
OPENING - Select YES if you want TradeMind to participate in the opening auction. The order
quantity will be calculated based on the historical volume traded on the opening for that stock.
% AT OPEN - Indicate the percentage of the order you want to participate in the opening auction.
CLOSING - Select YES if you want TradeMind to participate in the closing auction. The order
quantity will be calculated based on the historical volume traded at closing for that stock.
% AT CLOSE - Indicate the percentage of the order you want to participate in the closing auction.
SLICES - TradeMind automatically calculates the number of slices or separate orders sent, but
if you wish, you can specify the number of slices/child orders you wish TradeMind to send to the
exchange.
STYLE - Select a trading style: Passive, Normal or Aggressive. Passive will trade with discretion,
while Aggressive will tend to be ahead of schedule.
WOULD PRICE – Define the price at which the strategy will place all the remaining quantity and
on which the user is willing to complete the order. If used, the remaining order quantity will be
continuously placed on the indicated would price in case there is a large move in the market.
MIN ORDER AMOUNT - Set the minimum child order quantity expressed in euro that will be sent
by TradeMind.
All the parameters (except Opening and Min Order Amount) can be modified in real time without
cancelling the order.
actual trade volume
historical volume
rt
pa
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EXAMPLE
DESCRIPTION
Buy 10 000 BMW, try to match
VWAP, but limit the volume
participation at 25%. Start at
10:00h and finish it at 17:00h.
ENTERING THE ORDER
Enter BUY order for 10 000 BMW
and fill the VWAP parameters:
> Start Time = 10:00h
> End Time = 17:00h
> Max %of Volume = 25%

6. TWAP - Time Weighted Average Price
EXAMPLE
The TWAP strategy executes the order uniformly over the period.
All the parameters are the same as in the VWAP strategy.
DESCRIPTION
Buy 10 000 BMW between
11:00h and the market close time;
participate in the closing auction
and do not pay more than 30.00.
ENTERING THE ORDER
Enter BUY order for 10 000 BMW
with limit price set to 30.00
and fill the TWAP parameters:
> Start Time = 11:00h
> Closing = Yes
actual traded volume
participation rate
OPEN - Opening Auction
The OPEN strategy allows you to send an order that will participate
in the opening auction.
CLOSE - Closing Auction
Using CLOSE allows you to create an order during the day that will be
executed in the closing auction. TradeMind will release the child order
up to one minute after the official closing time of the regular trading
phase. The order will be released with the correct order type
depending on the market rules of each exchange.

7. RESERVE - Iceberg/Hidden Orders
The Reserve strategy allows the user to send Iceberg or Hidden orders
at the limit price. The user has the option to either mimic the Iceberg
functionality locally by TradeMind or use the Iceberg order function of the
exchange. If the Iceberg functionality is simulated by TradeMind locally, the
entire parent order quantity will not be sent to the exchange, but only one
small order with the display quantity (Show Qty) at the limit price. Once
filled, the next small order will be sent. This procedure is repeated until
the parent order quantity is fully filled.
START TIME - Specify the time you wish to start trading. If this field is left empty, TradeMind will
start trading as soon as it receives the order
END TIME - Specify the time you wish to stop trading. If this field is left empty, TradeMind will
finish trading before the closing auction.
FUNCTION - This function toggles between TradeMind and Exchange. If set to TradeMind,
software will mimic the Iceberg functionality locally. If set to Exchange, the Iceberg order
function of the exchange will be used.
SHOW QTY - Enter the display quantity for all the child orders sent by TradeMind. If you do not
fill in the Show Qty field, TradeMind will automatically calculate the display quantity based on
the sizes available on the book at that time and the rules of the relevant exchange.
RANDOMIZE % - Set the maximum difference from Show Qty expressed as a percentage. If set,
the Show Qty will be randomized by having the value in the range from Show Qty – r% to Show
Qty + r%, where r%= Show Qty * Randomize %
This parameter is available only if the parameter Function is set to TradeMind.
MAX SHOW QTY - The maximum display quantity. If set, the Show Qty will be taken as the
minimum value and Max Show Qty will be taken as the maximum value. This parameter
is available only if the parameter Function is set to TradeMind.
RELOAD % - Specify a percentage to refill the order. As soon as the order is partially filled for
more than the given percentage, TradeMind sends a new order with the full Show Qty. This
parameter can only be used if the Function parameter is set to TradeMind.
OPENING - If you indicate you want to take part in the opening auction TradeMind will send an
order with entered or calculated Show Qty to participate in the opening auction. This parameter
can only be used if the Function parameter is set to TradeMind.
CLOSING - If you indicate you want to take part in the closing auction TradeMind will send an
order with entered or calculated Show Qty to participate in the closing auction. This parameter
can only be used if the Function parameter is set to TradeMind.
ALL IN AUCTION - Send the entire parent order quantity to participate in the opening and/or the
closing auction. As the large part of the total daily volume is traded in the auctions, the user
may decide to place the total parent order quantity in the auctions to minimize the chance of
missing the volume at the limit price or better. This parameter is available only if the Function
parameter is set to TradeMind.
MIN ORDER AMOUNT - Set the minimum child order quantity expressed in euro that will be sent
by TradeMind.
EXAMPLE
DESCRIPTION
Buy 26 000 BMW showing only
2 000 at a time, for the whole day.
ENTERING THE ORDER
Enter BUY order for 26 000 BMW,
and fill the RESERVE parameters:
> Show Qty = 2 000

8. STOP – Stop Loss Orders
The STOP strategy will send an order to buy or sell a quantity of shares
at the designated price once the instrument has reached a trigger price
specified by the user. In the Order Type the user can put the Limit Price or
select Market, and the order quantity will be sent using those instructions.
START TIME - Specify the time you wish to start trading. If this field is left empty, TradeMind will
start trading as soon as it receives the order.
END TIME - Specify the time you wish to stop trading. If this is left empty, TradeMind will finish
trading before the closing auction.
STOP LOSS PRICE - Set the price at which to trigger the stop order.
STOP QTY - Set a quantity limit. Stop qty triggers the stop order only when the volume traded
at the STOP price exceeds the specified number of shares.
EXAMPLE
DESCRIPTION
Sell 10.000 BMW at the market
price if the price goes lower
than 25.30.
ENTERING THE ORDER
Enter the SELL order for 10.000 BMW
and fill the STOP parameters:
> Stop Loss Price = 25.30
PEG
The PEG strategy will send an order that will track the best bid
(or offer) of the order book in real time.
START TIME - Specify the time you wish to start trading. If this field is left empty, TradeMind will start
trading as soon as it receives the order.
END TIME - Specify the time you wish to stop trading. If this is left empty, TradeMind will finish
trading before the closing auction.
TIMEOUT - Specify how many seconds the strategy will wait between sending orders.
RANDOMIZE TIMEOUT - Enter the maximum difference from Timeout expressed as
a percentage. The entered value will be randomized and the actual timeout will be in range:
Timeout ± Randomize Timeout.
ICEBERG - If set to YES, the order will not display the full order size, but the quantity set
in Show Qty. If there is no quantity set in Show Qty the strategy will automatically calculate the
amount to display.
SHOW QTY - Enter the display quantity for all the child orders sent by TradeMind.
JOIN - If set to YES, the pegging order will track the reference price instead of going in front of it.
REFERENCE - Set the reference price (Last, Open, Ask…) to track.
% DIFF - Set the difference from the reference price expressed as a percentage.
TICK DIFF - Set the difference from the reference price expressed in number of ticks.
EXAMPLE
CLOSING - Select YES if you want TradeMind to participate in the closing auction. The order
quantity will be calculated based on the historical volume traded at the closing for that stock.
DESCRIPTION
Buy 10 000 BMW, start at 10:00h,
but stop it 16:30h if it has not already
been finished.
JOIN THRESHOLD - If Join is set to YES and Join Threshold is defined, the strategy will join the
current best bid/ask once the price reaches the Join Threshold.
JOIN QUANTITY - If Join is set to YES and Join Quantity is defined, the strategy will join the
current best bid/ask when the quantity on the first limit is less then Join Quantity. Once Join
Quantity is reached, PEG will start sending orders placed in front of the current best bid/ask.
ENTERING THE ORDER
Enter BUY order for 10 000 BMW,
and set the PEG parameters:
> Start Time = 10:00h
> End Time = 16:30h

9. IS
The Implementation Shortfall strategy is used to minimize the risk
connected to trading costs relative to the arrival price by dynamically
adjusting its aggression as a function of real-time market conditions
relative to a chosen reference price.
START TIME - Specify the time you wish to start trading. If this field is left empty, TradeMind will
start trading as soon as it receives the order.
END TIME - Specify the time you wish to stop trading. If this field is left empty, TradeMind will
finish trading before the closing auction.
STYLE - Select a trading style: Passive, Normal or Aggressive. Passive will trade with discretion,
while Aggressive will tend to be ahead of schedule.
OPENING - Select YES if you want TradeMind to participate in the opening auction. At the
preconfigured time before the opening, TradeMind checks the Theoretical Opening Quantity
printed by the exchange and sends an order to participate accordingly. TradeMind does not
monitor the quantity during the last ten seconds. As a result, executed quantity might not match
the desired level of participation.
CLOSING - Select YES if you want TradeMind to participate in the closing auction. One minute
before the official exchange close time, TradeMind checks the Theoretical Closing Quantity
printed by the exchange and sends an order to participate accordingly. TradeMind does not
monitor the quantity during the last minute, so the executed quantity might not match the
desired level of participation.
WOULD PRICE - Define the price at which the strategy will place all the remaining quantity and
at which the user is willing to complete the order. If used, the remaining order quantity will be
continuously placed on the indicated would price in case there is a large move in the market.
EXAMPLE
REFERENCE - Set the reference price (Last, Open, Ask…)
PRICE RANGE - The strategy will participate with a minimal amount when the price is outside
this range surrounding the reference price.
MIN ORDER AMOUNT - Set the minimum child order quantity expressed in euro that will be sent
by TradeMind.
- price range
reference price
participation rate
+ price range
DESCRIPTION
Buy 10 000 BMW, with reference
price set to 15.30 and minimize
the impact on the market.
ENTERING THE ORDER
Enter BUY order for 10 000 BMW
with limit price set to 15.30 and set
the IS parameters:
> Reference = Limit
> Price Range = 40

10. GHOST Orders
The strategy does not place orders on the order book but will trigger
orders with an IOC (Immediate or Cancel) order type if there is an
opportunity to trade at the given limit price or better. The limit price
is a mandatory field.
START TIME - Specify the time you wish to start trading. If this field is left empty, TradeMind will
start trading as soon as it receives the order.
END TIME - Specify the time you wish to stop trading. If this is left empty, TradeMind will finish
trading before the closing auction.
WOULD PRICE - Define the price at which the strategy will place all the remaining quantity and
at which the user is willing to complete the order. If used, the remaining order quantity will be
continuously placed on the indicated would price in case there is a large move in the market.
MIN QTY - It will send the order only if the entered quantity is available on the market.
DELAY - Enter the time the strategy will wait between sending orders.
SERVE % - Limit the quantity of the Ghost IOC order to a specified percentage of the available
quantity for the immediate execution on the best bid or offer.
EXAMPLE
DESCRIPTION
Buy 10 000 BMW until 15:00h,
without placing orders on the
order book, but do not pay more
than 30.00.
ENTERING THE ORDER
Enter BUY order for 10 000 BMW
with limit price set to 30.00
and set the GHOST parameters:
> End Time = 15:00h