ArizetTHE DESKSYNDICATIONStart trading
Trader Guide ·  Chapter 20
Chapter 20 of 20: all chapters
  1. 1. Syndication in one page
  2. 2. Your accounts and your syndication balance
  3. 3. A tour of the Terminal
  4. 4. The three trade settings
  5. 5. Watchlist and instruments
  6. 6. Chart and Backtest Allocation
  7. 7. Pre-open: what the Desk would do
  8. 8. The earnings projection
  9. 9. Placing a trade: the Execute ticket
  10. 10. What happens after you press Buy or Sell
  11. 11. The Allocation panel
  12. 12. The Activity panel
  13. 13. Managing open positions
  14. 14. Pending orders
  15. 15. Closed trades, replay and sharing
  16. 16. Money: balance, fees, overnight charges and payouts
  17. 17. The Terminal on your phone
  18. 18. The Desk page
  19. 19. Questions traders ask
  20. 20. Glossary
Chapter 20 of 20

Glossary

AllocationThe capital the Desk puts behind your trade, shown as a share of your size.
Allocation LadderThe levels at which the Desk can add to its allocation, with the price and move needed for each.
BankedYour share of what the Desk's partial sales locked in on a trade. Part of your earnings, not added to them.
Basis point (bp)One hundredth of one percent of the price.
ContractThe unit of size on the ticket. The fee is charged per contract.
Desk average entryThe average price of the Desk's allocation. It moves when the Desk adds; a partial sale does not move it. Drawn as a thin light line on the chart and in replays.
Desk stopThe Desk's own stop on its allocation. It starts at the disqualification level and trails as the trade moves your way.
Disqualification levelThe price at which the Desk's stop starts. If price reaches the Desk stop, the allocation is Out.
EarningsWhat the Desk pays you: your share of what its allocation makes on your trade.
FeeThe flat syndication fee per contract: $15 Normal, $25 High-Risk.
Initial AllocationThe Desk's share of your size when it joins.
LegOne stretch of the Desk's allocation at a constant size, between two changes.
Level (rung)A step on the Allocation Ladder.
OutThe Desk's stop was hit; the remaining allocation settles at nothing.
Overnight carryThe charge for holding a syndicated position through the daily rollover.
Peak allocationThe highest share the Desk held on the trade.
Platform timeThe time used across the Terminal: New York time plus 7 hours.
Profit appetiteHow much of your earnings you are willing to give back once the trade is in profit.
QualifiedThe allocation is running.
Reward splitYour share of the qualified reward: 90%.
Risk toleranceHow far the Desk stays with you when the trade moves against you. Sets the fee.
Partial sale / buy backThe Desk selling part of its allocation when the price pulls back towards its stop, banking what that part made, and buying back when the move resumes.
SettledThe allocation has finished and its earnings are final.
SyndicateAsk the Desk to put its capital behind your trade, for the fee.
Syndication balanceThe balance, in units, that pays fees and overnight charges.
Syndication endedThe Desk has left the trade while your own position may still be open.
TimeframeHow fast the Desk moves with you: Intra-Day or Multi-Day.
Underlying P&LThe profit or loss of your own position on your trading account.
UnitOne contract's worth of syndication balance.
WalletWhere earnings go when you move them; withdrawals are made from it.

Estimates, projections and backtests in the Terminal describe how the Desk behaves. They are not promises of future results.

The screens come from a demonstration account; prices, sizes and amounts are sample data. Estimates, projections and backtests in the Terminal describe how the Desk behaves. They are not promises of future results. Trading involves risk.