CY GROUP TRADING
LASER PLATFORM
DIRECT ACCESS TRADING SOFTWARE RELEASE NOTES

 Latest Version  Release Date  Updates
Laser-6.5.400 3/28/2011

Introducing LASER 6!

1. Please manually remove previous version if you donot want to keep old copy. This release

   come with a new product code and will be installed in a new default folder.

2. Customized Hotkey

    I. Shares: rename Fixed to Manual Input, add Position Mindful and Tier Size, add Adjust

       shares with Scale and Truncate. Position Mindful mode: when order is the same side

       as position, use tier size, otherwise use min(position, tier size), pending shares

       are included.

    II. Reserve Shares: add Symbol Specific and custom Reserve Size.

    III. Add Custom Hotkey to a website to review news for symbols in Customize Hotkeys popup

         box.

3. Add two columns in NYSE Imbalance (All): Ref-Clr and Ref-Book

4. Fix the Chg% display issue on WatchList when decimal is specified.

5. Add automatic stock locate entry in Blotter Borrow.

6. Fix a ribbon bar account asynchronize issue with Mainbar view in last release.

7. Fix the a close position update display on Position Activities view.

8. Pin status of the popup order box is retained now.

Laser-5.3.354.msi 9/23//2009

We added multiple features such as floating window for order entry, new routes, TSX support, ARCA imbalance info, and new smart routing.

1.       Added LavaFlow order entry – the method is FLOW. Also added a new DOT line, called NYSE.

2.       Support for TSX data and trading – we should have this operational very soon. We will have full depth of book with all TSX ECN’s and the ability to route to each of them individually. Trades will be done in CAD in real time, but will convert to USD overnight.

3.       ARCA imbalances – under Alerts menu.

4.       Multiple routing strategies for EDGA and EDGX: EDGA supports: Add Liquidity only, EDGA only, RDOX, RDOT, ROUT, ROUC. You can choose the routing strategy under Route->Routing Strategy (EDGA). EDGX supports: Add Liquidity only, EDGX only, RDOX, RDOT, ROUT. You can choose the routing strategy under Route->Routing Strategy (EDGX).

Please note: the routing strategy must use with correct route out flag, the route out flag should be off for the first two strategies, it should be on for other strategies. This is under the Route menu. The ROUC strategy is particularly interesting, sweeps the EDGA book then dark pools then low cost destinations and then routes out, so ECN based smart order routing – EDGE claims fills < 45ms and average cost of .0011.

5.       We revamped the Direct Hit menu with new routing logic – you can set whichever ECNs you want to hit, in whichever order, it will hit the best bid or best ask, in the sequence you select. This is under trade settings – direct hit. The keyboard shortcuts are under “direct buy” in Program keyboard.

6.       We added floating order entry to Laser under View à Order entry.  Please provide feedback on how to improve this feature.

Laser-5.3.344.msi 6/10/2009

Release notes below – note the TFTY NASDAQ strategy has been added – details on TFTY - http://www.nasdaqtrader.com/TraderNews.aspx?id=ETA2009-28. Pricing as follows – you can save .0004 on NYSE orders which are normally charged .0018 to remove.

· Orders that execute on BX will receive the $0.0006 per share rebate for removing liquidity in Tape A and Tape C securities, and will be charged $0.0014 per share for Tape B securities.

· Orders that execute on market centers with low-priced liquidity will be charged $0.0005 per share for all U.S. equities.

· Orders that execute at the NYSE will be charged $0.0014 per share for Tape A securities.

· Orders with a Time-in-Force of Day have the ability to route to NASDAQ. They will be charged a remove fee of $0.0030 and receive a rebate for adding liquidity based upon a firm's volume tier.
Reminder:  NQBX pays .0006 to remove, and GETCO is free. If you want to be added to daily distribution list of top volume symbols for NQBX, pls let me know.

Laser release notes:

1.       Add prefered symbol support for eSignal.

2.       Add Merrill Lynch LOO/LOC hot key

3.       Add Option to turn on/off Odd Lot orders to ARCA and MLCO in Trading Settings -> General

4.       Add BATS POST only routing strategy.

5.       Add Trader Error Lookup tool. API users can type the error code in the Error lookup dialog to see the meaning. Under Menu Tools->Error Lookup. It's also available from your Programs -> Genesis Laser.

6.       Add MOO Close out All position.

7.       Add Calculate Average Price on Blotter Trades. When users right click on the Blotter Trades, a new average price window will be popped up for you to select trades to calculate the average price.          

8.       Add back shave functionality for ARCA, NASDAQ, NYSE (BELZ, MLYN, and OES) and BATS.

9.       Fix bug in Trading Settings -> EDGX reserved share setting.

10.   Fix bug in EDGA bid (hidden).

11.   Add TFTY strategy for NASDAQ.

Laser-5.3.336.msi 2/11/2009

Release notes:

NYXI is the NYSE market imbalance menu
Dark Routing Strategies include the new NIX and Stealth strategies (NYFX and BATS)

1. Move route from Trade menu to a new separated menu. All route related operations are moved from Trade menu to Route Menu.

2. Add dark routing strategy for BATS and NYFX (These functions will work after we upgrade BATS server and NYFX server).

3. Move Alert related window to a new separated menu Alerts, including NOII, NYXI-ALL, NYXI-SELECTED, NYSE Alert.

4. Add Filter in NYXI-ALL view. Filter can be ON/OFF and user can set filter settings.

5. Fix the data display problem when NYXI window is opened from menu.

6. NYXI Select – added display of L2-Linked symbol for NYSE Imbalance.

7. Automatic sort for NYXI-ALL view (occurs every 3 seconds if data has changed).

8. NYXI Select – added display of L2-Linked symbol for NYSE Alerts.

9. Add GETCO entry on level2.

10. Add Merrill Lynch MOC/MOO and Buy/Sell hot key

Nix: our smart order router that will sweep both displayed and non-displayed venues.
Nix is a great tool for situations where a trader is looking to hit/take a stock and would like to sweep as many venues as possible. The dark pool access will help a trader oversize the quote, reduce market impact and obtain price improvement.
Stealth: a pure dark algorithm that is designed for less aggressive trading situations.
Stealth will help a trader find liquidity in stock without moving it.
Unlike Nix which will ping dark pools, Stealth only rests orders in order to maximize dark exposure.
Darkscan: Dark strategy for BATS

Laser-5.3.335.msi 11/25/2008 ***Note: Added NSX route, which offers a rebate for all stock traded under a dollar - .10% of trade value. Add credit is .003 on amex and .0026 on Nasdaq/Nyse, remove is .003, route is .0029.***

Complete list of new features below:

1.      Add font/color selection for highlighted symbol in "NYSE Alert" window. This will help the trader the find the Alert easily when it is linked to the "Level 2" window. The color of the letters is blue in previous version and it is hard to see. Right click the Alert window and you will get a pop-up dialog to select the font/color you want.
2.      Add the highlight ability in "NYSE Imbalance All" window when linked to the "Level 2" window. Font/color selection is also supported. Right click the Imbalance-All window and you will get a pop-up dialog to select the font/color you want.
3.      Support double sort in "NYSE Alert" view and "NYSE Imbalance-All". PRESS CTRL if you want to select a column as the secondary sorting column. Without CTRL key, the column you selected will change to the primary sorting column.
4.      Add average price window in Blotter. The average price window will provide useful information for the volume weighted average price for all transactions. It's calculated by per symbol/per side. This is new COOL feature.
5.      Revolving ECN Bid/Offer. Add a new tab "Favorite ECNs" in property Trading Settings. You can select only your favorite ECNs to Level 2 window from all available ECNs. Switch your favorite ECNs by define the hotkey in program keyboard "Switch Favorite ECN".
6.      Tick Message Window - This window tracks a trader's position tick by tick with a corresponding message. For Example: If a trader buys 500 shares of XYZ and the next tick on the stock is a high bid for 100 shares on ARCA. The message window would display a green tick with the following message: 11:50:36 (Time) 500 (Trader's Position) 21.32 (Average Price) ARCA High Bid (message). Right now we use the time and sale data to track the position. It may be changed according to the requirements.
7.      Add NSX prints.
8.      Add NSX hot key: Bid, Ask, Buy, Sell
9.      Add EDGA support for NYSE symbols
10.     Turn on command line login. To login in command line, run Laser with command parameter like this: trader /u:USERNAME /p:password
Laser-5.3.30.msi
10/2/2007 This has the new ARCA PO+ order type to replace INET DOTD. ARCA PO+ is the cheapest way to hit NYSE stocks via specialist. Only .0008/share flat fee to remove and free to add liquidity.
API USERS - arca PO+ order routing strategy is POP. PO routing strategy is POO.

DO NOT SELECT SECURE LOGIN WHEN LOGGIN IN

1. Add bid, ask, buy, sell hot key for ARCA PO+ order.
2. Add NSX order entry.
3. Fix NYSE Alert Volume and percentage sort.
4. Add NYSE Imbalance (For test). NYSE Imbalance data available in two view: selected and All.
5. Add hot key for ISEQ buy and sell order.
6. The login server setup is changed.
7. Fixed pnl display in Blotter
8. Fixed hotkey for ISEQ offer
9. Fixed island LOO/LOC order
10. Add LOC, LOO, MOC, MOO hotkey for ARCA Bid/Ask, Buy/Sell
11. Support ARCA PO order and PO+ order under Trade à Routing Strategy (ARCA). ARCA PO+ order is pending SEC approval.
12. Add Market Close out All (Global) function. This function is going to market close out all open position for the current account. The closes out orders are sent as market orders to NASDAQ. Since NASDAQ only supports market order during market hours, it's only working during market hours.
13. Add NASDAQ Cross Alert. If the client enables NASDAQ Cross Alert under View menu, an Alert Message Box will popup two minutes before NASDAQ intra-day and post cross at 10:45, 12:45, 2:45 and 4:30. The client can enable/disable the Alert at anytime.
14. On level 2 montage, if you double click the time display, it will switch to net percentage change. It will switch back to time when double click again.

Things need to be noted:
1. The load time will be longer than normal at the first time login to the system after the upgrade. This is due to the system searching for the executor. After the first login, the system will remember the executor and the load time will be normal (you will login to the system immediately after input the right user name and password).
2. If you change the login setup, it will take the computer some time to update the server's settings because we add more entries there. Usually it will take about 3-4 seconds.
Laser-5.3.319.msi
12/11/2007 1. Added a new order type of add-liquidity-only to EDGA and EDGX.
2. Fixed open P/L.
Laser-5.3.318.msi
12/06/2007 1. Fixed the issue of flashing last price/size in BoardView+.
2. Added a new option for Anti wash trade in Trade Setting/Level II/Anti Wash Trade. If it is ON (checked), Laser will automatically check if a buy/bid order can potentially hit the sell/offer orders in the same account, vice versa. If yes. Laser will reject the order with rejection message: "Possible Wash Trade Order!"
3. Added new IP addresses and ports of Internet quote servers up to 20.
Laser-5.3.317.msi
11/28/2007

1. Order Management System (OMS) module release – for STOP ORDERS and MORE
OMS module is under Modules --> OMS. It can keep placing orders to the market until the order is completed. The buttons on top with the chart icons are used to enter/duplicate/remove orders for staging, while the PLAY button activates the orders and the STOP button stops them – mouse over each button for details.
These orders can only be cancelled from the OMS module, NOT from the pending order window. The OMS module will cancel and replace orders as the market moves.

When adding orders, two key points:
A) What “Speed” means
Slow: Best bid price for buy order. Best offer price for sell order.
Normal: (Best bid price + Best offer price) / 2 –-> midpoint
Fast: Best bid price for sell order. Best offer price for buy order.
Fixed: Use the price specified by the user.
B) Price Indicator if Speed is Fixed
There are 4 types: Limit, Market, Stop, Stop Limit.
The properties key (blue hand holding paper) allows for selection on methods to send orders, in order of preference, percentage sent to a certain method, etc.
Please inquire with your group leader or sales rep regarding the OMS API for algorithmic trading.

2. Added a new option of Real-time T&S into Board View+. If it is OFF, Board View+ will not load T&S data for all the symbols in the list in real time. Right-click on Board View+, then click “settings”, and look for the option on top right.

The default is OFF. Users have to turn it ON and save/load the layout if they want to see the T&S data in Board View+ like before. When it is OFF, it can save a lot of bandwidth.

To set the updating speed during OFF time, go to Quote, then Level 1 Server Buffering. LOW setting means it will update frequently, in the range of 100ms. EXTREMELY HIGH means it will updateless frequently, around 2 seconds (20 times slower but still very frequent).

Genesis highly recommends you keep the Board View+ updating as slow as possible to conserve bandwidth. The new quote servers utilize a batching algorithm to send market data.

3. Added "Credit Suisse" route in Laser, which is a gateway to multiple dark pools. Please consult your group leader or rep regarding cost.

4. Bug fix that Laser crashes when it loads a layout file with more than 1000 symbols in Board View+. Bug fix when Laser crashes because of memory overflow. You should also see improvement in quotes during busy market times.

Laser-5.2.310A.msi
08/22/2007 1. Added an option "For current symbol only" in Pending Order Window to show pending for current (linked) symbol only. Enable the option in properties window and link the Pending order window to another window for this to work.
2. Added an option "Fast Trade Insertion" in Blotter to speed up the insertion to Trade Tab in Blotter. MOE trades (Genesis journal entires) may be duplicated in Trade list. Access via properties key.
3. Added an option "Fast Cancel Insertion" in Blotter to speed up the insertion to Cancel Tab in Blotter. Access via properties key.
4. Added an option "Max Cancel Lines" in Blotter to limit the number of lines in Cancel Tab in Blotter. All extra lines will be removed automatically. Access via properties key.
5. Added a new toolbar "Reserved Shares", which has INET and ARCA. This will set the default on the fly, both on/off and amounts. Access via View--> Reserved Shares.
6. There is now a default limitation of 3 time and sale plus windows to conserve CPU resources and bandwith. If you need to increase that limit, please contact your group leader or sales rep. There is also a L1 symbol limitation.
Laser-5.2.309.msi
07/24/2007 1. Added hotkeys for TIF IOC and Day.
2. Changed display of INET LOO/LOC to 'I' for keyboard order entry by default.
Laser-5.2.306.msi
07/05/2007 1. Removed downtick check as per new SEC regulations which lift the downtick rule.
2. Changed INET Hidden hotkeys to routing strategy INET only.
Laser-5.2.304.msi
06/22/2007 1. Optimized Level 1 data transmission by over 30%.
2. Enabled L2 window quantity limitation - please contact support@gndt.com for details.
Laser-5.2.303.msi
06/20/2007 1. Added hotkeys for Buy/Sell on INET (LOO/LOC).
Laser-5.2.302.msi
06/15/2007 1. Added Limit Buy/Sell INET/DOTD hotkeys.
2. Added NY-IOC into Method Bar 2 to quickly switch INET Routing strategy to ISNY. (ISO for NYSE)
Laser-5.2.301.msi
06/13/2007 1. Increased the number of module menu to 20.
2. Added function QueryModule int GTI.
3. Added ISO orders for INET.
4. Added a warning message when quote connection is bad. A message box will be triggered after 3 disconnections in 3 minutes.
Laser-5.2.299.msi
06/07/2007 1. Changed MLYN in Method Bar 2 into BATS.
2. Fixed offer Level 2 price.
3. Removed NX 1000 share limit.
Laser-5.2.298.msi
05/18/2007 1. Support NASDAQ Certified Platinum Partners Criteria - Download PDF format
2. Added NYSE Alert.
3. Fixed NAQS in Level 2 box.
4. Increased to 25 orders per seconds in Command Center.
5. Added Cost and P/L in Excel Trades sheet.
6. Added bid/ask on INET only/DOTD keys.
7. Added market buy/sell on INET default/only/DOTD keys.
8. Added BPB/GAB/GXB into hidden-list/top-of-book property page.
9. Changed "Island" in menu to "INET".
10. Automatically remove old version of Laser.
Laser-5.2.0.297-4.msi
05/03/2007 Disabled auto-switching for quote servers due to popular demand.
Laser-5.2.0.297-3.msi
04/16/2007 1. Added new NAT server IP addresses to take advantage of new Internet line for Internet customers.
2. Removed the error message box "Failed to start keyboard log!" when the keyboard hook is installed unsuccessfully in Windows Vista.
Laser-5.2.0.297-2.msi
04/12/2007 Fix bug that Laser may crash when a statistics query window is opened.
Laser-5.2.0.297-1.msi
03/29/2007

Removed these methods from Laser:
INCA,SIZE,SOES,BRUT,ATTN,LSPD,REDI.
These methods do not exist in Laser any more.

Laser-5.2.0.296-1.msi
03/21/2007

1. Added NYF to NYSE Market/Limit hits.
2. Added some methods to Speed Mode.
3. Moved BATS T&S to ECN Only T&S windows.

Laser-5.2.0.296.msi
03/14/2007

1. Added Quote Conditions in Level 2 box.
2. Added version string in Login window.
3. Added Quote Condition link in help menu.
4. Made Show Reserve hotkey available in mouse mode.

Laser-5.2.0.295-1.msi
03/09/2007

1. Fixed the bug to send hidden INET orders.
2. Show BATS book as BATSb.
3. Added "Show Reserve" for INET as well.

Laser-5.2.0.295.msi
03/07/2007

New INET routing strategy SWIM has been added. It is in the menu "Trade" --> "SuperMontage Order Options" --> "Routing Strategy" --> "Strategy SWIM".

Laser-5.2.0.294-1.msi
02/06/2007

New module StockAlerts, which is able to generate some market alerts. Select menu Module, then Stock Alerts to open a new window for it.

Laser-5.2.0.293-1.msi
02/01/2007

Bug fix in version Laser-5.2.0.292, which has a problem to click INET button on Method 2 Bar.