Access Markets Allows traders to enter and trade markets they are cleared to trade in. Account Funding Feature for making quick and easy payments for an account. Performed using American Express, MasterCard, Visa, Pay Pal or by mailing traditional checks. Account Info Trader’s summary information including account balances, trading status, buy and sell limits for markets, payment methods used. Active Order Window The screen where trades occur in each market. Arbitration A process for disputing a trade. Balance The trader’s cash balance modified by transactions they engage in, including commissions. VERIFY! Differs from buy limits and sell limits. Bilateral Trade Deals between two traders are guaranteed by each individual and not through a third party clearinghouse. Bilateral traders trade at their own risk. Buy Limit Trading amount available to conduct transactions in each specific market. This dollar amount reflects trading capacity and not actual cash available. Buy Order An order to buy a specific commodity in a market. Buyer Info View another party’s personal profile, deal information, and deal feedback. Cancel Removes orders from the Active Order window or ‘Tickets’ screens. Cleared Trades Both executing parties are backed by clearing houses which assume risk associated with the deal. Clearing House A third party that assumes risk associated with trading on Flett Exchange. Clearing houses typically charge a fee for this service. Commissions Fees charged by Flett Exchange for conducting business on the exchange. Commissions Reports Spreadsheet of commissions paid to Flett Exchange. Commodity A generic, defined good which is bought and sold in large predetermined contracts for delivery. Commodity Cost Amount to be paid for a commodity purchased. (Does not include commissions). Commodity Futures Trading Commission (CFTC) A U.S. federal agency established by the Commodity Futures Trading Commission Act of 1974. It ensures the open and efficient operation of the futures markets The CFTC guards investors from manipulation, abusive trade practices, and fraud. Counter Offer Offer placed on existing buy orders or sell orders in the marketplace via the Active Order window. Counter Party A competing trader placing bids or offers in an active market. Date Calendar date and time are provided for transactions. Deals Once a buyer and a seller have entered into negotiation for a contract the ticket becomes a deal. A third party can still place counter offers on the deal up until the originator has accepted the deal. Deal Status Established (Pending), Verified (Partially Completed), Completed, Arbitration Deal Information same as ‘description’ Deal Feedback shows feedback for transactions completed from counter parties. Description Includes the deal number, status, market and counter party. Otherwise transactions are listed as either a Deposit or a Withdrawal. Edit Traders can edit their active orders by selecting their orders from the Active Order Window and right clicking on them to bring up the ‘Re-submit Order Ticket’. Edit any fields and resubmit the order ticket. Edit Account Traders can edit their personal information, trade notifications, and view market permissions Exchange Commission (Exch. Comm.) The dollar amount Flett Exchange charges traders for completing transactions on its platform. This rate varies by market. Expiration Date The expiry defaults to ‘Never Expires’. If desired, the trader may select a date that the order is no longer available. The expiration date allows expiration of the order rounded to the whole minute. Financial Reports Report showing the trader’s deal information such as the deal date, description, total amount, trading limits, and exchange commissions. Financial Statement Report showing the trader’s deal information such as the deal date, description, trading limits, total amount, and exchange commissions. Geographical Information Geographical Information helps provide accurate calculation of transportation fees and taxes which may apply. Grey Area Details Trademark feature of Flett Exchange that allows Traders to modify the standardized contract in order to meet their specific needs. Intermediate/Everyday Commodities are bought and sold by consumers who intend to make or take physical delivery of the commodity. Legally, Intermediate Commodities are not used for speculating purposes because they are not regulated by the CFTC. Margin Money required to place an order to buy or sell on the exchange. The margin is calculated as a percentage of the commodity value. Buyers and sellers must post margin. Margin may be subject to forfeiture if the party does not perform according to the contract. Markets A platform for trading a particular commodity in Flett Exchange in which traders place buy orders, sell orders and counter offers. This is performed through the Active Order window. National Futures Association (NFA) The NFA is An independent self-regulatory non-profit organization created by the CFTC that helps regulate the futures markets. One Cancels Other (OCO) Feature located at the bottom of self-created tickets which allows orders to be grouped so that they work in concert under a rule structure. For instance, if a suspend limit is reached remaining orders in the group are automatically suspended. Order A ticket which has been published to the marketplace. Partial Fills Feature that allows sellers and buyers to participate in a transaction at a volume less than the total volume offered. Price Transparency Concept that provides real time price discovery for the buyers and sellers of any commodity on Flett Exchange. This allows individuals and corporations to view current market activity and prices. Public Markets Public Markets can be viewed by everyone including non-members of Flett Exchange. This allows price transparency, a primary benefit of Flett Exchange. Real-Time Chat This feature allows traders to communicate instantly through Flett Exchange and is especially useful for establishing ‘Grey Area Details’ without resubmitting Order tickets. Chat Status may be set to Unavailable. Requires Suspending After Crash If activated, this feature will manually resubmit a users’ orders if the computer server becomes unavailable. If this feature is not activated orders will be automatically suspended and must be reactivated to be viewed in the active market. Save Settings Saves the filter settings in the Active Order window for a specific market so that each time they access the market their chosen settings will be in place. Sell Limit The dollar amount available for transactions in that specific market. This amount decreases each time a commodity is sold. Sell Order An order to sell a specific amount of a commodity at a specific price and conditions. This is a ticket which is published in the marketplace. Seller Info allows traders to view each other’s personal profile, deal information, and deal feedback. Set Filter Once a trader has accessed the Active Order window they can filter out orders viewed by region and other criteria specific to the market. Accessed via the ‘settings’ menu. Status (Deal Status) Established (Pending), Verified (Partially Completed), Completed, Arbitration Suspend Inactive status for a Ticket. Suspend After any Deal Feature belonging to an OCO order. Suspends all the deals selected as a part of this option after one of the deals has been completed.