SCREENS AVAILABLE ON ASTROID

SCREENS AVAILABLE ON ASTROID

Two different screens are available on the Homepage of ASTROID platform:

(a) Normal Market Watch
(b) Spread Market Watch

NORMAL MARKET WATCH:

The ‘Normal Market Watch’ screen consists of details of all the 12 Standard instruments available for trading, and allows the users to place Normal Bid/ Offer orders for those 12 instruments.

SPREAD MARKET WATCH:

Swap spread trades (Swap spread is the swap rate differential between the two maturities of a Swap curve) are trades where the two swaps are executed simultaneously in the market, but in opposite direction, in order to take a forward view on the slope of the swap curve (steepening/flattening). To enable Spread Trading, a separate screen namely ‘Spread Market Watch’ is made available on the homepage of ASTROID platform.

The ‘Spread Market Watch’ screen consists of details of Spread instruments available for trading. The Spread Trading can happen between two Intentional Spread orders or between Intentional and Inferred spread orders:

(i) Intentional Spread Orders: Intentional Spread Orders are Bid/ Offer Spread orders placed by Member users in Spread Market Watch.

(ii) Inferred Spread Orders: Inferred Spread Orders are Spread Orders created from best Orders (as per rate-time priority) of Normal Market Watch Window using two Standard Instruments corresponding to the instruments permitted in the Spread Market Watch Window, the notionals of which are in PV01 neutral ratio. Based on their PV01 neutral ratios, these Normal Market orders are inferred into a Spread Order by the system and placed automatically in the Spread Market Watch screen, without any user intervention.