**Trading -> Instruments** in your admin dashboard.

What your traders can trade is decided in two places. We decide which data
providers your firm has, as part of your plan. You decide what you offer from
them: which packages are on, what they cost, and which single instruments you
add, remove or price differently.

You need the `view_instruments` permission to open the screen and
`manage_instruments` to change anything on it. Without it you see everything,
with the fields switched off and a line saying why.

## The screen

A column on the left holds three things: **General** at the top, a row per
data provider below it, and then the instruments themselves. Pick a row and it
fills the rest of the screen. Each row ends in how it is set up right now, so
the column alone tells you what your firm offers: whether swap is charged, how
many packages of a provider are on, and whether an instrument is on, off or
removed from its package.

Whatever you change, anywhere on the screen, waits in the bar at the bottom
until you save. Retune a package, switch three instruments off and turn swap
on, and **Save** sends it all at once. **Discard** puts everything back as it
was saved, and Cmd or Ctrl+S saves from the keyboard. A dot beside a row marks
one with unsaved changes. When a save fails, every row holding an error gets a
red dot and the screen jumps to the first one.

What is open is part of the address (`?provider=binance`,
`?instrument=inst_...`), together with the search and filters of the list, so
a link opens exactly what you were looking at.

## General

Two switches decide something for your whole firm:

- **Overnight swap fees.** Whether positions still open at the 5 PM New York
  rollover are charged swap, at the prices you set per package and instrument.
- **Show the data provider.** Whether the provider's logo is drawn next to each
  instrument on the trading page, so traders see whose prices they trade on.

Below them are your data providers, and beside them how many instruments you
offer per category. Click a category to see those instruments in the list.

## Data providers

Each provider row says whether its prices are coming in. When they are not, it
says why:

| State                          | What it means                                                                                      |
| ------------------------------ | -------------------------------------------------------------------------------------------------- |
| Not live on the platform yet   | We are still bringing this provider online for everyone. Your settings are kept until it goes live |
| Propper is finishing the setup | The provider is yours, but something on our side, such as your dxFeed key, is not in place yet     |
| Prices are not coming in       | The connection has a problem. Ask us in Platform support if it lasts                                |

Nothing from a provider is offered to traders until its prices come in. You can
still switch its packages on and price them, so it is ready the moment it is.

Want another provider? **Request one**, beside the heading of the providers,
lists the providers we already run and lets you name any other, and opens a
ticket with us in Platform support. If we run it, switching it on is quick. If
we do not, we look into it and get back to you there. Providers are part of
your plan, so we switch it on for you rather than it being a switch here.

### Packages

A package is a set of instruments from one provider that you switch on as a
whole: the crypto majors, the micro futures, the index ETFs. We compose and
maintain them. Two kinds exist:

- **Curated**: a fixed list we keep up to date. When we add an instrument to it,
  your traders get it too.
- **Live list**: everything the provider lists in a market, such as all USDT
  perpetuals or all US shares. It grows and shrinks with the provider.

Packages marked **Recommended** are switched on for you when a provider is first
granted. Switch any package off and its instruments disappear from your traders'
terminal, except the ones you also added yourself.

Each package carries its own prices: a spread in ticks, a commission per lot, and
the overnight swap if you charge one. Every instrument in it gets those prices
unless you set its own. Each package also says how many instruments it holds,
how many of those you offer and how many you took out, and shows its
instruments in the list with one click.

:::info Your own selection
Below the packages of each provider is **Your own selection**: the prices for
instruments from that provider you add one by one, outside any package.
:::

## The instruments

The list holds every instrument your providers list, fifty to a page, grouped
by category. It opens on what you offer. The search finds an instrument by
symbol, name, base currency or `inst_` id. The filter menu shows what you
offer, what you do not, what you added yourself, what you took out of a
package, what has settings of its own, or everything. It narrows to one
category, one provider or one package, sorts by category, symbol or the last
change, and can show only the instruments with unsaved changes.

J and K walk the list and open each instrument they rest on. A right click on
a row offers to switch it on or off, to make it follow its package again, and
to copy its symbol, id or link.

The list shows what is saved. Switch a package on or off and the list says so
above its rows, and its instruments move in or out once you save.

Per instrument you can:

- **Switch it on or off.** Off on an instrument a package brings in removes it
  from that package for your firm only. On for an instrument no package brings
  in adds it to your own selection from its provider.
- **Pick its price source**, when more than one of your providers lists it.
  Automatic uses the provider of the package it comes from, otherwise the first
  of your providers that lists it.
- **Set the leverage** traders get on it, from 1:1 to 1:500. A challenge can
  still set its own on top. Without one an instrument has the leverage of its
  kind: forex 1:100; energy, agriculture and interest rates 1:50; indices,
  metals and other futures 1:20; shares 1:5; crypto 1:2; event contracts 1:1.
  An open position keeps the leverage it was opened with, so lowering it never
  raises the margin of a trade already running.
- **Set its own spread, commission or swap.** An empty field follows the
  package, and shows the package's value in grey so you can see what it gets.

**Follow the package** puts the price source, the leverage and every price
back to following the package, and leaves the instrument on or off as it was.

Beside the form, the screen turns all of this into money: what a trader pays
per lot in spread, commission and swap, the quote right now and what one tick
is worth, whether the market is open and until when, the contract, and where
the instrument comes from: the packages that bring it, the providers that list
it, and when it was last changed.

### Changing many at once

**Change all**, above the list, acts on every instrument the list holds with
its current search and filters, not only the page on screen. It offers them
all, stops offering them all, sets one price on every offered instrument, or
lets them all follow their package again. A list of more than 5,000 asks you
to narrow it first. Nothing is saved yet: the changes join the bar at the
bottom like any other, so you can look them over and discard them.

## What the prices mean

The **spread** is a markup in ticks on the market quote. Traders see the wider
price, are filled at it, and their stops and margin are measured against it.
Two ticks of spread on a contract worth 12.50 per tick costs a trader 25 per lot
on the round trip.

The **commission** is either a flat amount per lot, in the trader's account
currency, or a percentage of the notional (price times lots times contract
size). A percentage of 0.05 is 0.05 percent.

The **swap** is charged on positions still open at the 5 PM New York rollover,
and only while **Overnight swap fees** is switched on under General. With swap
off the fields are hidden, and the screen warns you if a package still carries
a swap price.

## Warnings

Beside each part of the screen is what will not work as set:

- Instruments you switched on that none of your providers can price any more,
  usually because a provider was taken off your plan. They are not offered.
  General lists them by symbol. Open one and **Clear what you set on it**, in
  its menu, removes it with the next save.
- Instruments waiting for a provider whose prices are not coming in yet, or
  packages switched on from such a provider.
- A package that holds no instruments.
- Swap prices set while swap is off for your firm.
- Nothing on offer at all.

## In the older designs

Propper - OG and Tactical keep the screen as it was: two switches and the
provider cards at the top, with **Packages** and **Instruments** as tabs below
them. A package's contents unfold under it, the round arrow at the end of a row
puts an instrument back on its package, and **Set one price** writes one field
across the instruments loaded in the list. Narrowing the list to one provider
or package, sorting it, an instrument's market hours, contract and origin, and
changing every instrument of a filtered list at once are only in the standard
design.