CQG Integrated Client updates User Defined Strategies functionality
The new version of CQG Integrated Client (CQG IC) has updated the User Defined Strategies functionality to include over two-hundred strategies.
User-Defined Strategies (UDS) are multi-leg, tradable options strategies created by an individual and registered by an exchange for general open market trading. The formula includes legs composed of an operator, ratio, and contract.
Generally, a definition of UDS is exchange specific. Some common UDS are recognized by exchanges, but they may have different specifications.
You should be aware of these differences and should refer to specific exchanges for detailed information. For example, Exchange A and Exchange E may recognize certain butterflies, but Exchange A may require their specification from the buy side, while the Exchange E may support buy and sell side specification.
In CQG, UDS are built in to Strategy Analysis (on the Strategy drop-down menu). The menu includes several common strategies as well as strategies that are not tradable (such as covered UDS). You can also create custom UDS.
UDS are saved as QFormulas, and you work with them in that format. QFormulas can be created through Strategy Analysis or using Formula Builder and the User Defined Strategy (UDS) function.
UDS data can be viewed on:
- Time and Sales
- Monitors
- Strategy Analysis ((options)
- Trading Applications, including Spreadsheet Trader