When you click "Process Approved" from the Trading Dashboard, Autopilot generates an executable file for you to upload into Enhanced Trading, where your trades will automatically be grouped into blocks. If block trades are new to you, get a quick overview by reading our article: What is Block Trading?
Uploading Trades to Enhanced Trading
If you're new to using LPL's Enhanced Trading platform, the steps below might look a bit daunting. Never fear! Autopilot is doing the heavy lifting for you, and in just a few minutes you'll have your trades sent.
Best practice when uploading Autopilot trades is to make sure that your Enhanced Trading order management dashboard is currently clear (completed trades are fine). This makes sure you are applying the instructions below only to Autopilot-generated trades.
There are five basic steps to uploading and sending trades with Enhanced Trading. Enhanced Trading checks orders at each step, and will show you any errors before you release your trades for execution.
1. Upload the Autopilot File
- Open Enhanced Trading
- Go to Trade>Trading Tools>Multiple Order Entry
- Click Upload, towards the top center of the screen
- Upload the Autopilot file
2. Generate Orders on the Accounts Traded Screen
- Click Generate Orders>All Accounts
- Verify that the scenario selected is "Multiple Order Entry" with the current time/date stamp
- Click "ok" to proceed
3. Modify Orders on the Trades Not Released Screen
- Click Modify Orders>All Orders
- Leave "Client Ticket Charge" blank
- Under Order Receipt Info, click 'Current Date/Time'
- Enter your Rep ID in "Received From"
- Set "Discretion Exercised" and "Solicited" to Yes or No as appropriate
4. Verify Orders on the Trades Not Released Screen
- Click Verify Orders>All Orders
- Valid orders will move to "Ready to Release"
- Orders with errors will move to "Trades not Released - Error Status"
5. Release orders on the Ready to Release tab
- Select all Sell orders. Click Release Orders>Selected Orders>OK.
- Select all Buy orders. Click Release Orders>Selected Orders>OK.
Hooray! Your trades have been processed. Time to sit back and relax.
Settlement & Sync with Riskalyze
Now that your trades have been submitted, simply wait for them to settle. Your LPL dashboard may display the new positions as soon as the following day. However it typically takes T+2 for custodians to send the new positions to Riskalyze. You do not have to take any action to see updated positions, Riskalyze automatically updates them as soon as they are received from the custodian.
Frequently Asked Questions
Q: Autopilot asked me for a "Block Account Number" after I approved trades?
A: If you are prompted to enter a Block Account Number when generating your Autopilot Trade File, enter "0". LPL Enhanced Trading does not require this information.
Q: Where can I get help with Enhanced Trading errors?
A: If you received any validation errors or have questions on Enhanced Trading, Download the Enhanced Trading Guide for more detailed information. Alternately, contact the Enhanced Trading help desk and let them know you are calling in regards to uploading trade files.