1. Your Bourse Platform User Guide
  2. MT5 Coverage Plugin

Configuring the Coverage Plugin Rules

The account settings and other features for the Coverage plugin can be configured via the Your Bourse portal. 

 

Account settings details

 

In addition to creating the accounts on the MT5 Server, the account settings should be properly configured on the Your Bourse portal. Go to Plugins -> MT5 Coverage plugin -> Click "Manage" next to the working plugin and select the "Configure rules" option in the drop-down menu.  

The first table consists of the account settings of the plugin. 

  • A-book Coverage Account - MT5 account that copy all the positions from the A-book trading accounts specified in the "Groups" field
  • B-book Coverage Account - MT5 account that copy all the positions from the B-book trading accounts specified in the "Groups" field
  • Dealer Login Hedging Login Coverage Account - MT5 Manager account 
  • Auto Hedging Login Coverage Account - the special MT5 account that send to the A-book all the volume specified in the Coverage plugin exposure hedging rules (please see below)
  • Groups - trading groups from the MT5 server which positions would be copied
  • Manual Hedging Groups - MT5 groups that can be used for the manual hedging.

B-book Same Side checkbox - when selected, the plugin will copy the positions from the trading account in the same direction (buy or sell). Otherwise, the reverse direction will be used.

 

Coverage plugin symbol mappings

 

The second table allows one to map the traded symbols on the MT5 trading accounts onto the other symbols. Can be used when there are suffix symbols on MT5 Server.

At the example, all positions with the symbol EURUSD.t from the specified group will be copied to A-book/B-book Coverage Accounts with the symbols EURUSD.

To create a new mapping, one needs to click "Add symbol mapping" button. On the new page specify the symbols from which the mapping is done ("From") to the one that will be mapped ("To"). 

 

Exposure Hedging Rules

 

This functionality helps to hedge the exposure from B-book positions to A-book positions. 

The functionality has two modes. The first mode is the conditioned hedging. It's activated if there is 0 in the "Hedging Multiplier" parameter.

In this case, the coverage functionality checks the "Max unhedged exposure lots" parameter. As per the rule, all volume exceeding the max unhedged exposure lots parameter will be hedged to A-book with a step specified in the "Hedging lot increment" parameter. 

For example, according to above screenshot, if a client buy 2 lots of EURUSD, then 1 lot of EURUSD will be hedged to A-book with a step 0,01, that is, 1 lot BUY EURUSD will be sent to the Liquidity Provider. 

The second mode is unconditioned hedging. It applies of there's a value different from to in the "Hedging Multiplier" parameter.

In this mode, the coverage functionality doesn't take into account the "Max unhedged exposure lots" parameter and merely hedges the percent of the exposure on the B-book coverage account. The percent is specified in the "Hedging multiplier" itself.

  • 100% (as on the screenshot above) means that 100% of the exposure volume will be hedged to the Liquidity Provider, maintaining the same side; 
  • 50% means that only a half of the exposure volume will be hedged to the Liquidity Provider, maintaining the same side; 
  • -100% means that 100% of the exposure volume will be hedged to the Liquidity Provider, but the side will be reverse;
  • -30% means that 30% of the exposure volume will be hedged to the Liquidity Provider, but the side will be reverse.

To set up a rule click on the "Add exposure hedging rule" blue button at the right upper corner of the table.