Currently there are no monthly fees or installation charges. It was designed as an order entry device for day orders only. It can send orders to all pre-designated financial and agricultural floor brokers using order receipt devices. It does not handle spread orders at this time. Currently, there are no leasing or installation fees for the device.
Installation takes about four weeks.
These reports are used for audit trail compliance purposes. TOPS and its OR API are being phased out as member firms seek more innovative and robust order management systems. Current TOPS users are expected to have an alternative order management system by May 28, 2001. The trade data is electronically routed to bookkeeping systems where additional account information is automatically added to the trade fill data. It is then sent on to the Board of Trade Clearing Corporation for trade matching, also on a real-time basis.