Book Depth Visibility & Sweeping

This page covers the newest additions to the ElectronX Market Table: the Resting Lots indicator, table-wide Expand / Collapse, the Resting Quote Size order-quantity setting, and the Highlight Sweeps and One-Click Sweeps features. It builds on Order Book Trading 101, so if you have not read that page yet, start there for the basics of bids, asks, and book depth.

What is new in the Market Table

• Resting Lots: see total resting quantity on both sides of a contract without expanding the row.
• Expand / Collapse: open or close full book depth for every contract in the table in one click.
• Resting Quote Size: an order-quantity setting that pre-fills your ticket with the quantity resting at the level you act on.
• Highlight Sweeps: hover into the book on either side and click to draft a single order covering the levels you select.
• One-Click Sweeps: the same interaction as Highlight Sweeps, with the order submitted immediately instead of opening a draft ticket.
• Sweep Selection Summary: a coverage line on the sweep order ticket showing how much of the resting book you are acting on, at what average price, and any quantity that will rest.

Resting Lots

Each contract row carries a Resting Lots figure in bid x ask format, for example 24x15. This is the aggregate resting quantity for a contract across every price level on each side of the book, not only the top of book. Hovering the figure shows a per-side breakdown: bid quantity and ask quantity across a given number of levels.

Resting Lots sits next to the existing depth-levels count, so you can see both how many price levels exist and how much quantity sits behind them, before you decide whether to expand a row.

Expanding and collapsing book depth

A control in the Market Table header lets you expand or collapse every eligible contract in the table at once. Its label reflects the action it will take: it reads Expand when the table is collapsed and Collapse when it is already expanded.

This is table-wide, in addition to the per-row caret described in Order Book Trading 101.

Choosing how order quantity pre-fills

A single Order Quantity setting governs how the quantity field is pre-filled when you click Buy or Sell at any level. It is a choice between two modes, and selecting one turns off the other:

• Default Quantity: a fixed quantity, in MWh, that you set. Every draft order pre-fills with this quantity regardless of which level you clicked, as long as there is enough quantity available to match this fixed setting.
• Resting Quote Size: pre-fills each order ticket with the number of lots resting at the level you act on. Clicking Buy or Sell on the top-of-book row uses the best bid or offer quantity; clicking an expanded depth level uses that level's quantity.

Either way, the ticket opens at the price of the level you acted on, and you can edit the quantity before submitting. The setting only governs what the ticket starts with.

Sweeping the book with Highlight Sweeps

Highlight Sweeps lets you act against several contiguous price levels on one side of a contract in a single hover-and-click motion, rather than placing one order per level by hand.

Turning it on takes two steps: first, turn on Highlight Sweeps in the main settings or via the cog on the Market Table (off by default). Second, select the Highlight Sweeps button in the Market Table toolbar to enter sweep mode. Highlighting is only active while the toolbar button is selected.

Once sweep mode is active, hovering over a contract's price levels highlights every level from the top of book through the level under your cursor, on one side only. As you move the cursor, a preview line updates with the side, the total lots covered, and the price of the deepest level covered, which becomes the order's limit price, for example: Sweep: SELL 18 lots @ $26.13.

Selecting the highlighted level opens a single draft order ticket: a limit order priced at the deepest level you covered, with a quantity equal to the aggregate lots resting across all covered levels. Because the limit sits at the deepest level, the order can take every better-priced level above it. From there, the ticket follows the usual order entry flow: you can review, edit, or cancel it before submitting.

A sweep only ever covers one side of the book. Hovering past the top of book onto the opposite side does not extend or start a new selection there, and a level with no resting quote (shown as a dash) is never included; the highlight stops at the deepest level of a contract with a live price and quantity.

Reading the Sweep Selection Summary

The sweep order ticket carries a summary line so you can see the coverage and estimated price before submitting:

• Coverage. Shown as X of Y lots, where X is the quantity the sweep will take and Y is the total resting quantity on that side of the contract. As you hover deeper into the levels, X moves toward Y. X reflects what the ticket will actually take at its current limit price and quantity, so it never exceeds the order quantity.
• Blended price. The estimated quantity-weighted average price across the levels covered, shown as an approximation, for example @ ~$26.13. This figure is labeled W.A. (weighted average) on the ticket. It covers only the quantity that would execute against the resting book; any residual quantity is excluded from it.
• Residual. If you increase the ticket quantity for your sweep and exceed what is resting on the covered levels, the remainder is shown as REST n and would rest as a new limit order, for example Bids: 30 of 30 lots on the book selected @ ~$26.13 REST 2. This also applies if the resting book shrinks after you draft the sweep but before you submit the order.

The Coverage, W.A., and Residual figures apply only to that ticket. They do not account for any other pending draft orders you have on the same contract. The Residual figures update as you edit the ticket: raising the order quantity without changing the price increases the Residual only, leaving Coverage and W.A. unchanged, while lowering the limit price so that it reaches a further level increases Coverage and recalculates W.A. The summary updates as you edit the ticket quantity.

One-Click Sweeps

One-Click Sweeps uses the same hover-and-highlight interaction as Highlight Sweeps, with one difference: selecting the highlighted level submits the order immediately, without opening a draft ticket first.

One-Click Sweeps is its own setting, off by default, and only becomes available once Highlight Sweeps is turned on; its toggle stays disabled until then. If you later turn Highlight Sweeps off while One-Click Sweeps is on, One-Click Sweeps turns off automatically along with it. This setting requires Highlight Sweeps to be turned on and overrides the standard highlight sweep functionality.

As with Highlight Sweeps, every order placed through One-Click Sweeps still passes through the standard pre-trade risk and self-match prevention checks. These features change how an order is entered, not how it is matched: sweeping does not introduce a new order type or change any component of the matching engine. A sweep submits a single limit order, so it is subject to one collateral check in the same way as any other order you place. Because the book can move between when you hover and when the order is submitted, coverage and W.A. are estimates, not guaranteed fills; the order executes against the book as it stands when it reaches the exchange and may fill in part or not at all.

Turning these features on

The new controls live in two places, kept in sync: Settings > Trading, and the gear icon in the Market Table toolbar.

• Order Quantity: choose between Default Quantity and Resting Quote Size.
• Sweep Settings: turn on Highlight Sweeps to enable sweeping, and optionally turn on One-Click Sweeps once Highlight Sweeps is active.

Settings persist to your profile and follow you across devices.

Good to know

• Sweeping and Buy/Sell actions are disabled if a market is halted or a contract is closed, consistent with existing order-entry behavior.
• A sweep never crosses both sides of a book in one motion; bid and ask sides are swept separately.
• There is currently no maximum number of levels in a single sweep.