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Set Default Allocations
The default allocation refers to the allocation that will be used automatically when you create an order. You can modify the allocation on a per trade basis, and change the default allocations at any time.
To set default allocations
- On the Edit menu select Global Configuration.
- In the left pane, select Advisor then select Default Allocation.
Define settings described below:
- Use currently subscribed account - check this button to automatically allocate trades to the account or group selected in the Account dropdown on a trading screen, as shown above.
- Use specified default - check this button to set a specified absolute default allocation.
- Automatic Allocation - choose a user-defined Account Group and method to use for default allocation.
- Manual Allocation - choose an Allocation Profile to use as the default.
- Single Account Allocation - choose an individual account to use as the default allocation. NOTE: To allow the last selected individual account to be used for the default allocation going forward, select the Use currently subscribed account radio button at the top of the page.
- Preserve default - select to always use the default set up in the Default Allocation window regardless of changes you make on a per-order basis. If this is checked, you will need to use this window to modify the default allocation.
- Use last submitted as a default - select if you want the default allocation to change to the allocation you set on a per-order basis. If this is checked, the default allocation automatically changes when you change the allocation on an order.
- If one or more accounts fails to meet the margin requirements when an order is submitted...
For each order, all accounts designated for order allocation are vetted before the order is submitted, to ensure that each account has the capacity to support the designated allocation. In cases where one or some account(s) cannot hold the allocation as specified, the advisor can elect to:
- Reject the entire order - The entire order is rejected.
- Reduce the size of the order - The order size is reduced by the quantity that cannot be held, and this quantity is deactivated.
Note: Note that once the order has been submitted and is working, the quantity of the working order may still change. For example, if an unrelated fill results in one or more of the accounts no longer being able to support the allocation, the order size will be reduced by that quantity. In an opposite scenario, if an account whose allocation was deactivated can now support the allocation, a quantity that was deactivated during the initial order submission may be reactivated and submitted.
