Setting up the Coverage Plugin
To configure the plugin work, one needs to make the following steps.
- To put The MT5 Coverage plugin into the MT5 Main Trades Server "Plugins" folder.
- The plugin should be properly registered on Your Bourse portal.
- The trading, coverage, and auto hedging accounts on the MT5 Administrator should be created and funded.
- The MT5 routing rules should be correctly set up.
Setting up the Plugin
Download the latest version of the The MT5Coverage plugin from Your Bourse portal. It should be put into the Main MT5 Server "Plugins" folder.
Upon putting the plugin in the folder, go to MT5 Administrator -> Plugins, add a module "MT5Coverage.dll", and choose the MT5 Coverage. Double click on the created plugin. There should be the following values available.
To use the plugin one needs to register it on the Your Bourse portal. To register the plugin, one needs to go to the Your Bourse portal -> Section "Plugins" -> "MT5 coverage plugin" and choose "Register a new MT5 coverage plugin"
Upon giving the name to the plugin, one needs to follow the algorithm on the next page. The SenderId, ConfigurationServerHost, ConfigurationServerPort, and Token parameters values should be copied and paste into the plugin's parameters on the MT5 Server.
When it's done, the status for the plugin is changed to the "Online".
It means that the plugin is successfully registered and ready to work.
Creating Coverage accounts on MT5 Server
There’s a need to create three accounts in the MT5 Administrator/Manager. Two of them should be coverage accounts. A-Book Coverage Account and B-book Coverage Account should be created in MT5 and belong to the special group (e.g. "Coverage"). A-book Coverage Account will copy all the positions from A-book trading accounts from the specified group while B-book Coverage Account will replicate the positions from B-book trading accounts.
Both A-book Coverage account and B-book Coverage account should be in Netting group mode and properly funded.
Moreover, the auto-hedging account should be created. This account hedges the volume from the B-book Coverage Account to the Liquidity Provider as per the specified rules. The auto-hedging account should be created in any group besides the group where the coverage accounts are located. The account should be in A-book, the Netting group mode, and properly funded.
Finally, one needs common MT5 trading accounts wherefrom the positions will be copied. They should be in A-book or B-book depending on the flow of the trades. The trading accounts can be both in Netting or Hedging group modes.
The type of hedging multiplier (A-book or B-book) for accounts can be set up on the Your Bourse platform: MT4 Bridge and MT5 Gateway → Manage, "Configure A/B Book" menu. Please find the example below.
At the example, account 3156 is MT5 trading account in B-book, 6977 - A-book Coverage Account, 7977 - B-book Coverage Account, and 8890 - Auto-Hedging account, in A-book.
MT5 Routing Rules
Three routing rules should be created in the MT5 Administrator. To set them up, go to the MT5 Administrator → Routing. There, a new routing rule called “Hedging“ should be created.
The performed action should be “Process to dealers“;
Where request is - all
Where order is - all
Where conditions are: Type - login, Condition - “Equal(=)“ and Value = number for the auto-hedging account. On the tab “Dealers”, the Your Bourse Gateway should be selected.
Besides, modify the already existing “Auto Execution“ routing rule.
As the “Perform action“ should be “Confirm by request price“
Where request is - all
Where order is - all
Where conditions are: Type - Group, Condition - “Equal(=)“ and Value = “coverage” (or another name where A-book Coverage and B-Book coverage accounts are located).
Finally, create the third routing rule, “Your Bourse“, that contains the following:
As the “Perform action“ should be “Process to dealers“
Where request is - all
Where order is - all
Where conditions are: Type - Group, Condition - “Equal(=)“ and Value = “real\real” (or another group name where the trading accounts are located).
On the tab “Dealers”, the Your Bourse Gateway should be selected.
