- Registration of a Personal Page
In case you haven’t had a trading account with Teletrade before, please proceed to create your personal TeleTrade page first. For that, please click ‘Open an account’ button and then press ‘Continue’.
In the registration page that appears please put down your first name, your mobile phone and your email address. Your mobile phone will be used for identification and setting up a password. Your email address TeleTrade will use to send important communications, trade confirmations and account statements.
Further, please select the location of the TeleTrade office closest to where you are. This is going to be the office that will manage your account. In case you believe the automated detection of the closest TeleTrade office is not correct, you can tick ‘Show all’ and select the applicable office manually from the drop down list. Click on the ‘Registration’ button to proceed to create your personal page.
Upon creation of your personal page, an email and a text message containing your login detail will have been sent to your email address and phone number. You can now proceed to set up your personal page and confirm your contact detail so as to enable opening of the trading accounts.
Please go to ‘Account Details’, ‘Personal Data’. At this stage you will be prompted to verify your email and phone address. Upon clicking on ‘Verify’ or ‘Change’, verification codes will be sent to your email address and phone number on file with TeleTrade. Please enter these verification codes into respective fields to get both your email address and phone number confirmed with TeleTrade.
Now please click ‘Edit’. Fill in your Surname, Middle or Second name if it shows on your ID, your date of birth, the serial number of your ID. Upload a scanned copy of your ID. Please note that the image of the document should be legible and must contain a photo of the holder and the serial number of the document. Please also note that you may be asked to physically present the original of your ID to your local TeleTrade office, or to submit a certified copy by post for verification purposes.
Please fill in your contact detail, and attach a document confirming the address on file with TeleTrade. Such document could be a utility bill, a bank statement, a tax authority bill, or a certificate issued by address registration bureau or equivalent authority. At any rate, the document has to clearly show issuance date, your name and your address, and should be not older than six months as of the submission date. Please click ‘Save’ to store your inputs in your personal profile with TeleTrade.
- Registration of a WSE Account Page
The following steps should be taken in order to create a WSE Account Page after a Client’s persnal page has been created at the TeleTrade web site.
Please proceed to the ‘Investments’ item in the personal page menu on the left hand side, and select ‘Warsaw Stock Exchange’. You will be directed to the online questionnaire containing a series of questions on your personal detail, financial background, trading experience and your trading goals on WSE.
First please fill in your personal detail such as Gender, education, citizenship, date of expiry of your ID and landline telephone number, if applicable. Please note that your name, address, date of birth and ID number are copied from your general personal detail that you inputted during creation of your personal page. In case you or your immediate family member hold a position in any governmental body, or held it in the last 12 months, please indicate this in the Public Function checkbox, and provide information on the title of the position held, name of governmental body and degree of relationship, in case the above relates to a family member.
In the ‘Financial Background’ section, please choose the most appropriate selection for your employment status, and provide necessary specifics. Also, please indicate the net income and net worth brackets that apply to you, and the major source of funds that will be used for trading as well as the approximate amount of your first deposit. Please note that the amount of your initial deposit may have implications as for the amount of discount applicable to your trading fees. Please check the current version of Trading Conditions and Fees prior to making your initial deposit.
In the ‘Trading Experience’ section, please provide details of your prior trading experience – how long and how often you have been trading before, and how sizeable your trades have been. Also, please indicate if you have previously attended any educational events, or assumed any job responsibilities, or operated a demo trading account, or otherwise obtained experience or qualifications useful for trading on stock exchange. Please note the risk warning that appears based on your answers.
In the ‘Fitness Test’ section, please answer three questions relating to your previous trading experience, so as to let us determine whether you could be considered a professional investor within the European regulatory meaning.
In the concluding detail, please inform us of the intended purpose of your trading, and expected frequency and size of trades that you intend to make. In case you, or any of your related persons, is a director or senior officer of a company admitted to the Regulated Market that you intend to trade in, or an authorized person on account, or a beneficial owner of more than a 10% stake in such a company, please indicate this fact, and identify such company and the position of a person at question.
Please carefully study all of the attached agreements. They contain detailed description of services provided by TeleTrade as well as important information regarding conditions of these services, your rights and responsibilities in relation to TeleTrade, and disclosure of risks inherent in trading and investing in stock market. Note that by filling in checkboxes against the names of agreements you explicitly acknowledge that you read, understood and accepted the terms of such agreements.
By pressing ‘Next’, your finish editing the profiling questionnaire. Please note that once the questionnaire is recorded in the TeleTrade data storage, it will not be available for further editing other by communicating necessary changes to our customer support. If all required fields have been completed correctly, you will be redirected to your WSE Account page.
- Setting Up Terminal and Trading Account
Once your WSE Account Page has been created, you can proceed to set up a trading account and link it to your trading terminal. Please unfold the article on ‘Terminal downloading and installation’, and find a link to the archive with the terminal application.
Download it to a known location, unzip and run the QUIK executable file. Choose the suitable and easily accessible location for the terminal files. You will need access to the QUIK folder later on to be able to install your personal keys, so the shorter is the path, the easier it will be to subsequently locate the application files. Proceed with the installation procedure as suggested. Don’t launch for now. Open your File Explorer and locate the folder with QUIK files, a subfolder called KeyGenEng. Run the application named KeyGen. In the application, please choose where your key files will be placed, which is the folder called REALkey found inside your QUIK installation.
Type in your desired login and your password. Confirm your password.
Press ‘Next’ as the program prompts for the file public keys of systems since the default Teletrade key link is correct.
Press ‘Finish’ on the summary of keys parameters to complete the creation of keys.
Now, in the REALkey folder you will see files called pubring.txk and secring.txk. This is the electronic key that will be used to personalize your instance of QUIK terminal and link it securely to your trading account. Secring.txk is the private part of the key, which you must store securely. Teletrade will never ask you to share the secring.txk file, and you should not, under any conditions, share it with anyone. Pubring.txk is the public part of the key that Teletrade will need to establish dedicated and secure connection with your terminal. Please upload this Pubring.txk file to the ‘Files’ section of the ‘Account Details’ of your personal page.
After that, return to the WSE account page and send a ticket to TeleTrade’s support to request registration of your QUIK record with your trading account. Please file the ticket under ‘Registration of the QUIK key and WSE trading account’, and inform us that you uploaded your public key, and also of the fee plan that you chose. Please check with the current Schedule of Trading Conditions and Fees to see what plans are available. Press ‘Create Ticket’ to submit your request. You will be notified when it will have been processed by TeleTrade.
You will receive a message in the ‘Support > Question’ section of your personal page, containing confirmation of the account registration.
Your WSE Account Page will now show the Account box that will take you to the account data where you will see your trading data (which of course is empty at this stage), a tab containing payment detail for depositing funds into the account, and a tab for phone service password creation.
Please create a phone service password to be eligible to place or amend your orders by phone in cases when your terminal application is not accessible or you don’t have internet connection.
Currently, your account has zero balance. You can deposit cash into your account so as to enable TeleTrade allocate you a trading limit by a bank transfer. Details for the transfer for your specific account are generated in your WSE account page upon pressing ‘details for depositing’ button. Please note that you should send your funds to TeleTrade with the exact details generated by your personal WSE account page. These detail contain your account identification, in the absence of which there may be delays in placing your funds into your account.
- Launching and Customizing Terminal
Now that your trading account has been opened, and your terminal has been registered by Teletrade, you can launch QUIK.
In case you see any warnings from Windows Protection or from your antivirus software, please add QUIK to the respective list of exceptions and allow it to run. QUIK is guaranteed by TeleTrade to be free of malware.
In the ‘User Identification’ window that pops up after the launch of QUIK, please input your User Name and your Password, exactly as you specified them when you created your QUIK electronic keys via KeyGenEng.
Also, make sure that the connection is set as ‘TeleTRADECY 184.108.40.206:15100’. It is originally pre-defined this way, yet, it could have changed in case you previously tried demo access to simulated environment.
In case all of the above were done correctly, you will see a message from QUIK server that connection is successfully established. Also, you will see a green indicator dot in the bottom right corner of the terminal screen. You will also notice that the upper left corner of the terminal shows the number of your Personal Page at the Teletrade website, and that both cash and securities limit table show your trading account number.
In case QUIK reports that connection cannot be established (the indicator in bottom right corner is yellow or red, or an error message from QUIK shows up), please verify that your electronic keys are indeed placed in the ‘REALkey’ folder of the QUIK installation, that you provide the very same login and password that you selected during the creation of electronic keys, that you have internet connection and that QUIK’s connectivity is not jammed by antivirus or firewall software installed on your PC. In case you still experience some issues that prevent QUIK from connecting, please send us a ticket from your WSE personal page, under Warsaw Stock Exchange > Issues with QUIK Terminal.
Your trading terminal comes pre-set by Teletrade to show the most important windows:
- Quotes – showing current quotes for all available instruments
- Level II Quotes – showing depth of trading interest at different quote levels, for both buying and selling
- Charts – showing historical price and trading data on the selected financial instrument
- Cash limits – showing your funds available for trading, adjusted for unfulfilled buy orders and unsettled ‘sell’ orders
- Securities limits - showing your positions in securities, including those allocated for pending sale orders
Additional tables that are not yet on the screen, but can easily be invoked from the ‘Create window’ menu are:
- Time and sales – showing all transactions taking place in the market and updating in real time
- Trades – history of your trades during the current trading session
- Orders – your orders submitted, withdrawn, executed or pending during the current trading session
- Account state – extended information on cash and securities positions in your account
Please note that by default, all windows containing market data are linked by means of having the anchor button on. This results in all windows showing information on the same financial instrument selected in the ‘Quotes’ window. Unpressing the anchor button will allow you to see different instruments in different windows simultaneously.
All informational windows can be customized to provide content and representation of data that suit your specific needs best. For that, right-click on the window that you would like to customize and select ‘Edit Table’. For instance, for the ‘Quotes’ window you can select instruments you would like to see, and the specific parameters you are interested in. For the ‘Charts’ window, you can change appearance, grid and colours of the charts, and also add parameters that you are interested in. In the ‘Level II Quotes’ you can customize appearance of quotes, colours, and header parameters.
You can also rearrange windows to your best convenience and have them fixed to a specific part of your QUIK desktop by ‘docking’ them. Also, you can remove window headings to save space, and also make selected window to always appear on top, unobscured by other windows that you have on the desktop.
- Submitting Orders in Trading Terminal
There are several ways to submit trading instructions in the Terminal, depending on the type of the order and your preferences. The simplest way is to select the desired security in the Quotes window, and press F2 or right-click on it and select ‘New Order’.
In the menu that appears, please indicate the direction of trade (Buy or Sell), make sure Trading Account shows ‘WSE_CL’, put down price and quantity of your trade, and select your trading account in the Client Code field. Please note that you can either specify buy or sell price explicitly, which will result in a Limit Order, or can instruct the terminal to accept best market price for your trade available for execution. In the former case, please input your target price into the Price field. In the latter case, please tick ‘Market’ checkbox below. In either case, the terminal will prompt you on the maximum quantity of securities to be bought, based on the relevant price, and the available cash balance in your account. Also, you can specify Execution condition for your order, i.e. Put in queue (in which case your order will be stand until it is fully filled at the price you specified), Fill or Kill (in which case your order will either be filled in full quantity at once, or will be cancelled in full), or Withdraw balance (in which case the order will be filled at your target price to an extent current market supply allows, and the unfilled balance will be cancelled).
Upon pressing ‘Ok’, you will see a summary of your order with all essential conditions. You should check carefully before confirming it. While you may be able to promptly withdraw a limit order in case you realize it was placed in an error, it is not possible to withdraw a market order since it will typically get executed within split seconds.
If all order parameters are correct, you will get a message confirming that your orders has been successfully routed into the order book of the exchange. In case you, by mistake, submitted an order to sell more securities than you have, or securities for which another sell order is already pending, or an order to buy securities in excess of your available cash limit, you will get a notification about limit excess, and you order will not have been routed to the exchange.
In case of market orders, you would expect your order to be executed immediately and information about such execution to be updated in your terminal within seconds. You will see, in the window ‘Table of Orders’, your order showing as ‘Filled’, and in the window ‘Trade tables’ you will also see the record of respective transaction, showing actual price of the transaction and the number of securities transacted. Also, the transaction will be reflected in the window ‘Table of limits for securities’, where you will see the list of available securities changed.
In case of limit orders, your order will be executed upon your limit condition being met in the marketplace. Until then, a limit order will be pending execution, and you will see it marked as Active in the ‘Table of orders’ window. Also, you will see the amount of funds necessary to execute the transaction shown as ‘Reserved’ in the Cash Limit Table. If limit conditions are not met till the end of the trading session, the order will be automatically removed from the trading book of the Exchange at the market close, and respective cash limits will be recalculated.
Stop orders can be placed in a similar way, by selecting the desired security in the Quotes or Table of Limits for Securities window, and then pressing F6 or right-clicking on it and selecting ‘New Stop Order’.
For a stop order, you’ll be asked to provide validity period (which could be Today, a defined date, or Good Till Cancelled), limit order conditions (direction of trade, price and quantity of securities), and also a condition that activates your limit order. Such condition could be a stop price for the traded instrument, a stop price for another instrument, take profit offset and spread, or an execution of a linked order. Upon execution, stop orders will show up as completed trades in the same Trade Table window, as market or limit orders.
Placed stop orders will be seen separately from market and limit orders, in a window called ‘Table of Spot Orders’, as Active, or Filled upon their execution. Please note that stop orders that are not executed within a trading session will not be withdrawn as market or limit orders, but will rather be carried over to the next trading session so long as specified in your Validity condition. For example, Good Till Cancelled orders will be carried over and over indefinitely until it executes or is explicitly cancelled.
The alternative way of placing a market or a limit order is to directly match an available market offering showing in the Level II Quotes window. This window shows Buy and Sell offers currently outstanding in the Exchange’s order book, ranked by price. By clicking on a specific offer, you’ll be able to complete a matching offer in the New Order form, with the price and quantity of the securities being already matched to the market offer that you selected.
Yet another possible way to place an order is to do it directly from the Charts window. Please hold down Ctrl button and left-click on the chart at the price level that you chose. This will invoke the New Order form, with the Instrument and Price field already filled with the corresponding values from the chart. The rest of the New Order form is empty and is to be completed as discussed previously.
- Personal Page and Client Statements
While the results of the transactions that you made will be immediately available online in the QUIK terminal, in the Trades table, please note that this information will only be kept by the terminal till the end of the current trading session. At the next market opening, all information on trades and outstanding orders will be cleared. You will, however, still be able to access to and analyze the historical information on your transactions, your trading portfolio and your fees from 2 auxiliary sources.
First, after the market close, information on your trades is added to the online archive of your trading data available in your WSE personal page. The page shows securities currently held in your trading account (Open Positions), the entire history of your transactions (Trades), and the entire history of account deposits, withdrawal and charges (Non-Trading Operations). You can select a specific time period for which the data will be displayed, and you can sort the data by each of the data types.
Second, every day that you made a transaction, or that one of your earlier transaction has cleared, or that a fee was charged to your account, and also as of the end of each month, you will receive a transaction confirmation from TeleTrade in the form of an email statement. You can see the sample of such a statement here. The statement will show all orders executed on the statement date, all orders settled on the statement date, the list of orders executed, but not yet settled as of the statement date, all non-trading operations (trading or non-trading fees, cash deposits or withdrawals), and also balances of cash and securities in your trading account. Please note that statement will clearly identify settled vs. unsettled securities, as well as free cash balances vs. cash balances blocked to secure payment for unsettled securities.