Settlement Pipeline · NSCC member 009917 CFR 240.15c6-1
Pending T+1—trades awaiting CNS net
At-risk fail—borrow / locate gap
Settled today—delivered T+1
T-timeSymQtyStateT+0 → T+1DTCC ref
SEC 17 CFR 240.15c6-1 · T+1 effective May 2024 · NSCC CNS nettingNext cycle in —s
Modify Working Order35=G
FIX 4.4 OUT preview—
OrderCancelReplaceRequest chains the existing working order via Tag 41 OrigClOrdID to a fresh Tag 11 ClOrdID. Exchange responds with ER ExecType=5 Replaced (or 8 Rejected if too late). Queue priority is not preserved — that's the trade-off.
TradeX Institutional Terminal
Portfolio Demo · Ed Chen · Senior Product Designer
Design lens · viewing as Traderexecution-first · what does the trader need to act in 200ms?
What this demonstrates
Every design decision in this terminal is derived from a real protocol constraint — not from Bloomberg screenshots. The FIX 4.4 session monitor, Tag 39 OrdStatus lifecycle, partial fill states, and L3 order book scope are all direct translations of FIX Protocol rules into UI decisions, documented through production institutional FIX work (12+ institutional clients, 67% support ticket reduction).
FIX 4.4 Protocol Layer
Live FIX session state machine (TCP → Logon 35=A → Active → Heartbeat 35=0 loop). Real-time message stream with tag parsing. Tag 39 OrdStatus badges (A Pending → 1 PartFill → 2 Filled). NewOrderSingle (35=D) FIX message preview in Order Entry. Order execution triggers live FIX message flow. HeartBtInt=30s countdown ring.
Design Mode (🎨 button)
Toggle Design Mode to reveal annotation overlays showing exactly why each UI element was designed the way it was — every annotation maps to a FIX protocol constraint or institutional UX decision. This is the designer's layer: Protocol → Design decisions made visible.
Technology
Pure HTML/CSS/JS — no frameworks. LightweightCharts v4.2.0. ResizeManager (col-resize + row-resize drag). FloatingPanel (grab drag + SE-corner resize). FIX 4.4 message simulation engine. Canvas API for Depth chart. All data is simulated with realistic random walks seeded from real market structure.