What are the products included in Visual Trader?
There are two products:
- The Multi-Market Terminal, created basically for use in the trading rooms of stock exchange broker and broker/dealers. The product is designed to handle the order volumes generated by institutional clients.
- VT Gateway, a point-to-point connection allowing bank and savings bank host and order management systems to access a multi-market and multi-broker system using a single interface. VT Gateway is designed for the large order volumes generated by retail clients.

What are the advantages of Visual Trader?
The system offers the following possibilities:
- If a company wishes to channel orders to various markets but is not a member of any, it may connect to Visual Trader and select from over 300brokers to carry out transactions in 40 markets.
- If a company is a member of a stock exchange, it may connect to Visual Trader both to channel orders to the remaining markets and to act as a potential intermediary for the exchange of which it is a member. Additionally it will have the possibility of receiving orders from over 700institutional clients in Spain and abroad.

I am a member of the Madrid Stock Exchange. One of my customers is a savings bank which needs to send orders to a number of different markets. Which Visual Trader product should I use?
The savings bank should connect to VT Gateway. It should therefore develop the interfase and apply for a point-to-point line with the head offices of Visual Trader. At a minimum, your organisation should install a Visual Trader Filter Monitor to control the flow of orders received from the savings bank.

I want to receive orders for the SIBE of a financial institution located outside Spain. What are my options?
If the financial entity is reasonably large and you expect a considerable volume of orders, the matters explained in the previous point are applicable. If not, the following alternatives exist:
- An order monitor could be installed at the financial institution for manual inputs. This is the quickest option to start trading, but also the most limited (it does not include real time information).
- If the intermediary has installed the Visual Trader Multimarket Terminal solution, remote Multimarket terminals served from the intermediary can be installed in the financial institution. In addition to real time prices, the terminal offers virtually unlimited functionalities (risk control, filters, etc.).
- Finally, if the financial institution is a a member of one of the international routing networks already connected to Visual Trader, it is possible to receive its orders through the connection of the Visual Trader central system to these networks without the need of installing harware or software different from Visual Trader.

I have a basket trading program on an Excel spreadsheet. How can I connect it to Visual Trader to obtain automatic entry to the market?
The Multimarket Terminal is capable of automatically receiving orders from Excel spreadsheets and other more complex systems through COMs (Component Object Models). The user manuals contain various examples of how to do this.

My organisation is a member of a number of markets. We have also developed an in-house order input system for those markets using their API’s. Would we be able to connect to VT Gateway to receive orders from users and send them on to the markets using our connection?
Yes. The interface to which you would be connected would be the VT Gateway two-way access, which allows entities to receive orders from other Visual Trader users and send them on to the markets where members have a direct interface using in-house systems. The organisation would thus act as a “market provider” for Visual Trader.