This help document is designed for those who would like to fully utilize RPM functionality. It includes an in-depth guide to RPM account details, trading/settlement details for options and futures, and portfolio analysis functions. 本帮助文件专为希望充分利用 RPM 功能的用户设计。它包括 RPM 账户详情、期权和期货交易/结算详情以及投资组合分析功能的深入指南。
It is suggested that you read the Quick Start Guide for students and try using RPM before reading this document, since the document focuses heavily on details of RPM functions. 建议先阅读《学生快速入门指南》并尝试使用 RPM，然后再阅读本文档，因为本文档主要侧重于 RPM 功能的细节。
RPM Account Details RPM 账户详细信息
Currency: different types of currencies 货币：不同类型的货币
Balance: only cash balance in your account 余额：账户中的现金余额
Holdings: value of your portfolio holdings in corresponding currency 持有量：以相应货币表示的投资组合持有量的价值
Balance (CAD): sum of balance and holdings in base-currency (CAD in this example) 余额（加元）：以基准货币（本例中为加元）计算的余额和持有量之和
Portfolio Value: sum of amount in Balance (CAD in this example) 投资组合价值：余额（本例中为加元）之和
Buying Power: the money a user currently has available to purchase securities 购买力：用户目前可用于购买证券的资金
Margin Account and Buying Power 保证金账户和购买力
If margin accounts are allowed in the class settings, users can purchase securities and have additional exposure to their available capital (buying power) by using the securities they purchased as collaterals. 如果在类设置中允许保证金账户，用户就可以购买证券，并通过将所购证券作为抵押品，增加可用资金（购买力）的风险。
Buying power example with stocks 股票购买力示例
Stocks fall into two categories: high margin, or low margin. Stocks with an average daily turnover (average daily trading volume * last price) Million fall into the high margin category. The users who hold high margin securities can borrow margin loan of of the value of the securities, assuming that the high margin securities are held as collateral. 股票分为两类：高保证金或低保证金。日均成交额（日均交易量 * 最后价格） 百万的股票属于高保证金类别。持有高保证金证券的用户可以借到证券价值 的保证金贷款，前提是持有高保证金证券作为抵押品。
For example, let's assume that a user had $200,000 USD in cash and bought 100 shares of Google (GOOG) at . The user spent USD ( shares) to buy the shares, and has USD in cash remaining in his account. 例如，假设用户有 200,000 美元现金，以 的价格购买了 100 股 Google (GOOG)。该用户花了 美元（ 股）购买股票，账户中的现金剩余为 美元。
When margin accounts are not allowed, the user's buying power is USD (which is simply the current cash balance) as this is what is currently available for the user to spend on buying/selling more stocks. However, with margin accounts available, the user can access 'more' money by using his current shares as collateral to a broker. In this example, the user can put up his 100 shares of Google as collateral, and take out additional cash to invest. Since Google shares are classified in the high margin category, a margin loan is available for the user. The margin loan is then reflected in the user's Buying Power, which results in a total of $183,500 USD. (= Original cash balance margin loan amount shares ) 在不允许使用保证金账户的情况下，用户的购买力为 美元（即当前的现金余额），因为这是用户当前可用于购买/出售更多股票的资金。但是，有了保证金账户，用户就可以用当前的股票作为抵押，向经纪商申请 "更多 "的资金。在这个例子中，用户可以将其持有的 100 股谷歌股票作为抵押，然后取出额外的现金进行投资。由于 Google 股票属于高保证金类别，因此用户可以获得 保证金贷款。这笔保证金贷款将反映在用户的购买力中，从而产生总额为 183,500 美元的购买力。(= 原始现金余额 保证金贷款额 股票 )
If the price of the 'collateralized' stock increases, then the margin loan amount will increase, and as a result, the user's Buying Power will also increase. Continuing from the same example, if Google's share price increases from to , the buying power also increases from to . (= Original cash balance ( margin loan amount shares = ) 如果 "抵押 "股票的价格上涨，那么保证金贷款额就会增加，因此用户的购买力也会增加。继续举例说明，如果谷歌的股价从 上升到 ，购买力也会从 上升到 。(= 原始现金余额 ( 保证金贷款金额 股票 = )
From this perspective, the Buying Power in RPM is calculated as 从这个角度看，转速购买力的计算公式为
Buying Power Base Cash amount 购买力 基本现金额 High Margin Stock price * long position 高保证金股票价格 * 多头仓位
(1.3 * High Margin Stock price * short position (1.3 * 高保证金股票价格 * 空仓 Low Margin Stock price * long position) 低保证金股票价格 * 多头头寸)
[(Futures Price * Position * Contract multiplier) * 0.05] [（期货价格*持仓量*合约乘数）*0.05] [（期货价格*持仓量*合约乘数）*0.05]。 Value of Bonds * long position 债券价值 * 多头头寸
(1.3* Value of Bonds * short position) (1.3* 债券价值 * 空头头寸)
( 0.05 * Value of cash in Non-base Currency converted to Base Currency) ( 0.05 * 转换为基准货币的非基准货币现金价值)
Short Options Margin* 空头期权保证金*
*Short Options Margin is calculated depending on the type of options as follows; *空头期权保证金根据期权类型计算如下；
Call option: Call Price + Maximum (( * Underlying Price - Out of the Money Amount), (10% * Underlying Price)) 看涨期权：看涨期权价格 + 最大值（( * 标的价格 - 价外金额), (10% * 标的价格))
Put option: Put Price + Maximum (( * Underlying Price - Out of the Money Amount), ( * Strike Price)) 看跌期权：看跌期权价格 + 最大值（( * 标的价格 - 价外金额), ( * 行使价格))
Margin Call 追加保证金
If a user's buying power is less than of the current portfolio value, a warning message will be sent to the user to keep his/her buying power greater than of the portfolio value. Once the buying power reaches zero, RPM Administrators will manually sell off the user's holdings in order of the largest position (or the highest liquidity) to restore the buying power such that it is greater than of the portfolio value. 如果用户的购买力小于当前投资组合价值的 ，则会向用户发送警告信息，要求其保持购买力大于投资组合价值的 。一旦购买力为零，RPM 管理员将按照仓位最大（或流动性最高）的顺序手动卖出用户持有的股票，以恢复购买力，使其大于投资组合价值的 。
Advanced Order Management 高级订单管理
Submitting Orders 提交订单
There are four order types available in RPM and the behaviour of each order type can be found below. RPM 有四种订单类型，每种订单类型的功能如下。
Market order 市场订单
Users are only required to specify a volume of the trade. A market order will be transacted at the real-time price while market is open. If a market order is submitted once market is closed, the order will be queued and transacted at the market open price in the next day. Users are allowed to cancel these queued orders from Trades - Trade Management - Open tab. 用户只需指定交易量。在市场开盘时，市价订单将以实时价格成交。如果在收市后提交市价订单，订单将被排队，并在第二天以市场开盘价成交。用户可以通过 "交易"-"交易管理"-"打开 "选项卡取消这些排队订单。
Limit order 限价订单
A limit order requires users to specify both a volume and a price. The limit orders are "Good 'Til Cancelled" (GTC) orders that will be placed and stay in the system until it gets executed or cancelled. 限价订单要求用户指定交易量和价格。限价订单是 "有效直至取消"（GTC）订单，下达后将一直留在系统中，直至执行或取消。
Market-On-Close (MOC) 收市价 (MOC)
A market-on-close order is a market order which will be transacted at the daily close price of the security. Users will need to specify a volume of trade, and the MOC orders are scheduled to be executed in the system at (EST) on every business day. 收盘价市价订单是按证券每日收盘价进行交易的市价订单。用户需要指定交易量，收市价订单将在每个工作日的 （东部标准时间）在系统中执行。
Stop-loss 止损
A Stop-loss order requires users to specify both a volume and a price. Once the security price reaches the price that the user has specified in the order, a stop-loss order is triggered and the security will be transacted at the next available price. 止损订单要求用户指定交易量和价格。一旦证券价格达到用户在订单中指定的价格，就会触发止损订单，证券将按下一个可用价格成交。
Basket Trader 篮子交易员
In order to manage and submit multiple orders at once, you can use the "Basket Trader" feature available under the "Trades" module. This feature allows you to set up multiple orders for different securities using a spreadsheet. You can click on the Basket Trader button to open the window. If you are using this feature for the first time, you will need to click on the "Download Excel Template" hyperlink to download a spreadsheet order template. 为了同时管理和提交多个订单，您可以使用 "交易 "模块下的 "篮子交易员 "功能。该功能允许您使用电子表格为不同证券设置多个订单。您可以点击 "一篮子交易员 "按钮打开窗口。如果您是第一次使用该功能，则需要点击 "下载 Excel 模板 "超链接下载电子表格订单模板。
Once you specify the file name and the location, the template will be downloaded and you will be able to set up multiple order specifications as shown below. 指定文件名和位置后，模板将被下载，您可以设置多个订单规格，如下图所示。
A
B
C
D
E
1
Ticker 滴答声
Buy/Sell 购买/出售
Quantity 数量
Type 类型
Price 价格
2
GE-US
BUY
3000
MKT
3
AAPL-US
BUY
2500
MKT
4
TD-US
BUY
1000
LMT
5
MSFT-US
SELL
1000
MOC
6
IBM-US
SELL
1500
STOP
130
7
7203-JP
SELL
2000
MOC
You can save this Excel template and go back to the "Basket Trader" module in RPM. Then click on the "Load Excel File" button and choose the Excel template to load your order specifications. You will see that the orders are loaded onto the Basket Trader module, and click on "Submit" in order to submit your orders after verifying them. Any orders that are not submitted successfully (e.g. incomplete order information, wrong ticker, etc.) will have a blank box under the "Submitted" column. 您可以保存此 Excel 模板，然后返回 RPM 的 "Basket Trader "模块。然后点击 "加载 Excel 文件 "按钮，选择 Excel 模板来加载订单规格。您将看到订单已加载到 "Basket Trader "模块，然后点击 "Submit（提交）"，以便在验证后提交订单。任何未成功提交的订单（如订单信息不完整、股票代码错误等）都将在 "已提交 "栏下显示一个空框。
When trading options using RPM, you will first need to find the options that you would like to trade. Let's assume that you want to buy 50 call options for General Motors with a strike price of and expiration on June 18, 2021. 使用 RPM 进行期权交易时，首先需要找到想要交易的期权。假设你想买入通用汽车公司的 50 份看涨期权，行权价为 ，到期日为 2021 年 6 月 18 日。
In order to access the ticker symbol of this specific options contract, please first open the Ticker Search window and click on Options tab. Then, type in the ticker symbol of General Motors in RPM, which is "GM-US". Once you hit Submit, you will be able to see the options chains for the security. 要获取该特定期权合约的股票代码，请首先打开 "Ticker Search（股票代码搜索）"窗口，然后点击 "Options（期权）"选项卡。然后，在 RPM 中输入通用汽车公司的股票代码，即 "GM-US"。点击 "提交 "后，就可以看到该证券的期权链。
Please scroll down to the correct expiration date and the strike price in order to find the call option ticker symbol with a strike price of with June 18,2021 expiration. In this case, the ticker symbol is "GM#210618C00060000". Once you double-click on the ticker, an order entry window will pop up with the ticker already written in the section, so that you can simply submit an order. Or you can take this ticker and put it on the Market Watch window in order to access pricing information including the last price, % change, Bid, Ask, etc. In this example, the last price at which the options contract was traded was . (Please note that it may take a few minutes depending on its popularity when pulling the options pricing information from the Market Watch window). 请向下滚动到正确的到期日和执行价格，以便找到执行价格为 、2021 年 6 月 18 日到期的看涨期权股票代码。在本例中，股票代码为 "GM#210618C00060000"。双击该股票代码后，会弹出一个订单输入窗口，该部分已写入股票代码，您只需提交订单即可。或者，您也可以将该股票代码放在市场观察窗口中，以获取定价信息，包括最后价格、百分比变化、买入价、卖出价等。在本例中，期权合约的最后交易价格为 。(请注意，从 "市场观察 "窗口调出期权定价信息可能需要几分钟时间，这取决于期权的受欢迎程度）。
Now please go to the "Trades" menu on the top toolbar, and click on "New Trade". Type in the ticker symbol and the volume (the number of contracts in this case), choose your order type, and input the price in the case of a limit order or stop order. In this case, let's assume that you would like to buy this options contract at using a limit order. 现在请进入顶部工具栏的 "交易 "菜单，点击 "新建交易"。输入股票代码和交易量（本例中为合约数量），选择订单类型，如果是限价订单或止损订单，请输入价格。在这种情况下，假设你想使用限价订单以 的价格买入该期权合约。
5 New Trade 5 新贸易
Ticker 滴答声
Volume 卷数
Price 价格
i18C00060000
BUY
50
LMT
1.5000
Submit BUYY: 提交 BUYY：
Once you click on "Submit BUY", you will see a pop-up window to confirm this order. If you click on "Submit BUY" again, your order will be placed on the "Open" tab in "Trade Management", found under the "Trades" menu. 点击 "提交买入 "后，您将看到一个弹出窗口确认该订单。如果您再次点击 "提交买入"，您的订单将被放置在 "交易 "菜单下的 "交易管理 "中的 "打开 "选项卡上。
Please note that your order has been submitted, but not "executed" (i.e. you do not own the options yet). This is because your order is a limit buy order with a price of , and the current price is . Hence, your order will be executed once the options price falls below . While your order is still "open", your cash balance will stay the same. 请注意，您的订单已经提交，但尚未 "执行"（即您尚未拥有期权）。这是因为您的订单是限价买入订单，价格为 ，而当前价格为 。因此，一旦期权价格低于 ，你的订单就会被执行。当你的订单仍处于 "未结 "状态时，你的现金余额将保持不变。
You can also cancel your order before it gets executed. Simply click on the "Cancel" button on the right, and your order will be cancelled. Please be careful when cancelling your order since there is no confirmation window after you click the "Cancel" button. (Your order will be automatically cancelled once you click it.) All of your cancelled orders can be found under the "Cancelled" tab. 您也可以在订单执行前取消订单。只需点击右侧的 "取消 "按钮，您的订单就会被取消。取消订单时请务必小心，因为点击 "取消 "按钮后不会出现确认窗口。(您可以在 "已取消 "标签下找到所有已取消的订单。
Exercising Options 行使期权
Once your order is transacted, you will have the options position in your portfolio. Remember that your cash balance decreased by as the cost you paid for the options contract. (# of contracts * contract size * options price ) 一旦订单成交，你的投资组合中就有了期权头寸。请记住，你的现金余额减少了 ，这是你为期权合约支付的成本。(合约数量 * 合约大小 * 期权价格 )
The system allows you to exercise your options at any time prior to the expiration date in the case of American options. If you click on the "X" button under "Exercise" on the far right side, a confirmation window will appear to inform you that exercising the options will add the underlying securities to your portfolio at the strike price. Continuing from the example above, it will be 5000 shares ( 50 contracts of options * a contract size of 100 shares per options contract) added to your portfolio at per share. 如果是美式期权，系统允许你在到期日之前的任何时候行使期权。如果点击最右侧 "行权 "下的 "X "按钮，系统会弹出一个确认窗口，通知你行权后将按行权价把相关证券加入你的投资组合。继续上面的例子，将有 5000 股（50 份期权合约 * 每份期权合约 100 股）以每股 的价格添加到你的投资组合中。
Confirm Action 确认操作
? Exercising GM#210618C00060000 will result in 5000 shares of GM-USA being added to your portfolio at per share. Are you sure you want to do this? ?行使 GM#210618C00060000 将导致 5000 股 GM-USA 股份以每股 的价格加入您的投资组合。您确定要这样做吗？
If you click "OK", your options will be exercised and you will buy 5000 shares of General Motors at (strike price). Please note that you cannot exercise options when you have insufficient buying power. 如果点击 "确定"，你的期权将被行使，你将以 （执行价格）购买 5000 股通用汽车公司的股票。请注意，在购买力不足时不能行使期权。
You can confirm this in your transaction log. Your options position will be decreased by the total amount, and you will buy the underlying security at the strike price. Please note that your cash balance will be deducted accordingly by the value of the security. In this case, your cash balance will decrease by (Number of contracts * contract size * strike price . 你可以在交易日志中确认这一点。您的期权头寸将减少总金额，您将以执行价格买入相关证券。请注意，您的现金余额将根据证券价值相应减少。在这种情况下，您的现金余额将减少 （合约数量 * 合约大小 * 行权价 。
Expiration 到期
If you choose to hold your options until the expiration date, your options will be settled automatically in RPM. Please refer to the options expiration calendar below for detailed information. 如果您选择持有期权直至到期日，您的期权将在 RPM 中自动结算。详细信息请参阅下面的期权到期日历。
In this case, the General Motors options contract (GM#210618C00060000) will be expired and settled on June . You can choose the settlement type (i.e. cash or stock) for the options contracts prior to their expiration date. 在这种情况下，通用汽车公司的期权合约（GM#210618C00060000）将于 6 月 日到期并结算。你可以在期权合约到期日之前为其选择结算类型（即现金或股票）。
Click on "Expiry Behaviour" under Portfolio Watch, and you will see two options - Cash or Physical. Assuming your options contract expires in-the-money upon settlement, your options will be settled in cash (i.e. your cash balance will increase) if you choose "Cash" under "Expiry Behaviour". In the case of "Physical" expiry behaviour, your options will be physically settled (i.e. you will be given the underlying security or it will be deducted from your account depending on the type of your options contract) when the options expire. 点击 "投资组合观察 "下的 "到期行为"，你会看到两个选项--现金或实物。如果你在 "到期行为 "下选择 "现金"，假定你的期权合约到期时是价内结算，你的期权将以现金结算（即你的现金余额将增加）。如果选择 "实物 "到期方式，则期权到期时将以实物结算（即根据期权合约的类型，您将获得标的证券或从您的账户中扣除标的证券）。
Let's assume that, in this case, you have selected the cash expiry behaviour and the last price for General Motors on your options' expiration date was . Since you bought call options with a strike price of (in-the-money), you will realize a profit of: 假设在这种情况下，你选择了现金到期方式，通用汽车在你的期权到期日的最后价格是 。由于你买入了执行价为 （价内）的看涨期权，你将实现的利润为：
price difference per share * contract size # of options contracts 每股价格差异 * 合约大小 期权合约数 .
Hence, your cash balance will increase by this amount, and your options positions will be closed out to 0 . 因此，您的现金余额将增加这一数额，您的期权头寸将被平仓至 0。
In the case of physical expiry behaviour, you will automatically purchase 5000 shares of General Motors upon the expiration of your options contract. Hence, your cash balance will be decreased by ( strike price * 5,000 shares of the underlying stock) and your holdings of General Motors will increase by 5000 shares. 在实物到期行为的情况下，你将在期权合约到期时自动购买 5000 股通用汽车公司股票。因此，你的现金余额将减少 （ 行权价 * 5,000 股相关股票），而你持有的通用汽车股票将增加 5000 股。
*AIternative approaches to accessing options price and options book *获取期权价格和期权账簿的替代方法
FactSet - Options Montage FactSet - 期权蒙太奇
If you have access to the FactSet platform, please follow the instructions below in order to access options pricing information. 如果您可以访问 FactSet 平台，请按照以下说明访问期权定价信息。
Type in "Options Montage" (or @OPT) on the top-left corner of the initial FactSet screen. Then, on the top-left corner text box, type in the underlying security name (e.g. GM or General Motors). Once you select the underlying security, you will see a table with options chain with pricing information will be populated. The left-hand side displays all the call options and the right-hand side shows all the put options for GM. You can view the expiration date and the strike price on the middle. 在 FactSet 初始界面的左上角键入 "Options Montage"（或 @OPT）。然后，在左上角文本框中输入标的证券名称（如 GM 或 General Motors）。选择标的证券后，你会看到一个包含期权链和定价信息的表格。左侧显示 GM 的所有看涨期权，右侧显示 GM 的所有看跌期权。你可以查看中间部分的到期日和执行价格。
Once you type in the ticker "GM" and press "Enter" in Yahoo Finance, you will be directed to a Summary page for General Motors. Click on "Options" on the top menu bar in order to obtain options price. 在雅虎财经中输入股票代码 "GM "并按下 "回车键 "后，就会跳转到通用汽车公司的摘要页面。点击顶部菜单栏上的 "期权"，以获取期权价格。
Add to watchlist 添加到观察清单
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Summary Chart Conversations Statistics Historical Data Profile Financials Analysis Options Holders Sustainability
You will be able to see a table with prices for options with different expiration dates and strike prices. If you would like to check call options contracts with a strike price of expiring on June 18 th, 2021, you can choose the expiry date by using the dropdown bar on the top-left corner to June . 你可以看到一个表格，其中列出了不同到期日和执行价格的期权价格。如果你想查看行权价为 、于 2021 年 6 月 18 日到期的看涨期权合约，你可以使用左上角的下拉栏选择到期日 。
In order to trade this options contract on RPM, simply type in the ticker symbol of General Motors in the Options Chain tab from the Ticker Search window and double-click on the options symbol to open an order entry to submit a trade. 要交易 RPM 期权合约，只需在 "Ticker Search（代号搜索）"窗口的 "Option Chain（期权链）"选项卡中键入 "General Motors（通用汽车）"的股票代码，然后双击期权符号，即可打开订单条目提交交易。
June 18, In The Money Show: List Straddle 6 月 18 日， 《金钱秀》：名单跨越
Option Lookup 选项查询
Contract Name 合同名称
Last Trade Date 最后交易日期
Strike 罢工
Last Price 最新价格
Bid 投标
Ask 询问
Change 改变
% Change 变化百分比
Volume 卷数
Open Interest 未平仓合约
Implied Volatility 隐含波动率
GM210618C00020000
2021-04-30 2:29PM EDT 美国东部时间 2021-04-30 下午 2:29
20.00
36.93
35.70
38.70
0.00
23
71
GM210618C00024000
2021-02-01 4:22PM EDT 美国东部时间 2021-02-01 下午 4:22
24.00
27.60
28.65
29.40
0.00
-
1
59
GM210618C00025000
2021-04-19 11:28AM EDT 美国东部时间 2021-04-19 上午 11:28
25.00
32.75
32.20
32.45
0.00
5
191
GM210618C00026000
2021-01-22 2:17PM EDT 美国东部时间 2021-01-22 下午 2:17
26.00
29.40
24.30
29.00
0.00
-
1
0
GM210618C00027000
2021-03-15 3:33PM EDT
27.00
31.00
29.60
33.05
0.00
1
39
GM210618C00028000
2021-04-01 12:02PM EDT 美国东部时间 2021-04-01 12:02pm
28.00
29.60
28.35
30.30
0.00
2
86
GM210618C00029000
2021-04-23 12:07PM EDT 美国东部时间 2021-04-23 12:07pm
29.00
28.20
28.20
29.05
0.00
-
9
58
GM210618C00030000
2021-04-13 2:01PM EDT 东部时间 2021-04-13 下午 2:01
30.00
26.88
26.95
27.60
-1.57
1
596
GM210618C00031000
2021-04-21 1:22PM EDT 美国东部时间 2021-04-21 下午 1:22
31.00
25.75
26.00
26.65
0.00
2
267
GM210618C00032000
2021-04-12 3:24PM EDT 美国东部时间 2021-04-12 下午 3:24
32.00
27.85
24.80
25.70
0.00
-
6
202
GM210618C00033000
2021-03-22 10:15AM EDT 美国东部时间 2021-03-22 上午 10:15
33.00
23.80
23.70
24.75
0.00
-
4
109
GM210618C00034000
2021-04-21 3:33PM EDT 美国东部时间 2021-04-21 下午 3:33
34.00
23.40
22.30
24.55
0.00
-
2
117
GMว10618C0ก035000 GM10618C0ก035000
2071-04-30 12-36PM FDT
35.00
27.76
27.70
77.55
0.00
-
5
4.760
Trading Futures 期货交易
Submitting Orders 提交订单
In order to trade futures on RPM, you need to know the ticker symbol for the futures contract that you would like to trade. Please go to the "Ticker Search" menu, click on "Futures", and find the ticker symbol of the futures contract. In this example, let's assume that we would like to trade futures contracts on silver with an expiration date of December 2021. 要在 RPM 上进行期货交易，您需要知道要交易的期货合约的股票代码。请进入 "Ticker Search（代号搜索）"菜单，点击 "Futures（期货）"，找到期货合约的代号。在本例中，假设我们想交易到期日为 2021 年 12 月的白银期货合约。
If you scroll down in the "Ticker Search" window, you will find "Silver" under the "Commodity" column in the "Precious Metals" table. Note that the contract code is SI. The expiration codes can be found in the Expiration Code Table in the same window. The code for December 2021 would be Z21. 如果在 "Ticker Search "窗口中向下滚动，就会在 "Precious Metals"（贵金属）表的 "Commodity"（商品）栏下找到 "Silver"（白银）。请注意，合约代码是 SI。到期代码可在同一窗口的到期代码表中找到。2021 年 12 月的代码是 Z21。
Futures symbols in RPM combine the contract code and the expiration code followed by a country code (in this case, the symbol would be "SIZ21-USA"). Please note that different futures will have varying active contract months but can be traded on any trading day. Therefore, please make sure that the futures contracts you're planning to trade have the delivery months that you are satisfied with. For all the futures contracts traded on the CME, you can find the necessary information by accessing the following link: RPM 中的期货符号由合约代码和到期代码组成，后跟一个国家代码（在本例中，符号为 "SIZ21-USA"）。请注意，不同期货的有效合约月份各不相同，但可以在任何交易日进行交易。因此，请确保您计划交易的期货合约有您满意的交割月份。关于在芝加哥商品交易所交易的所有期货合约，您可以通过访问以下链接找到必要的信息：
For futures traded on the ICE, the information can be found using the following link: 对于在 ICE 上交易的期货，可通过以下链接查找相关信息：
https://www.theice.com/homepage.jhtml
Other useful information can be found using the above links, including contract sizes, settlement dates, and market hours. 您还可以通过上述链接找到其他有用信息，包括合约大小、结算日期和市场时间。
To access pricing information for the futures contract that you wish to trade, open up the "Market Watch" window and type in the ticker symbol ("SIZ21-USA" in this example). Please be aware that the pricing information in RPM's Market Watch is at least 15 minutes delayed, while trades are executed based on real time prices. In this example, the last price for SIZ21-USA is . 要获取您希望交易的期货合约的定价信息，请打开 "Market Watch "窗口并输入股票代码（本例中为 "SIZ21-USA"）。请注意，RPM 市场观察中的定价信息至少有 15 分钟的延迟，而交易是根据实时价格执行的。在本例中，SIZ21-USA 的最后价格为 。
Now please go to the "Trades" menu on the top toolbar, and click on "New Trade". Type in the ticker symbol and the volume (the number of contracts in this case), choose your order type, and input the price in the case of a limit order or stop order. In this example, we are submitting a market order for 10 futures contracts, which will execute immediately at the current market price. 现在请进入顶部工具栏的 "交易 "菜单，点击 "新建交易"。输入股票代码和交易量（本例中为合约数量），选择订单类型，如果是限价订单或止损订单，请输入价格。在本例中，我们提交的是 10 份期货合约的市价订单，订单将以当前市价立即执行。
(3. New Trade (3) 新贸易
x
Ticker 滴答声
Volume 卷数
Price 价格
SIZ21-USA
BUY
10
MKT
0.0000
Submit BUY 提交 购买
Once you click on "Submit BUY", you will see a pop-up window to confirm this order. If you click on "Submit BUY" again, your order will be executed immediately and shown in the "Transacted" tab in "Trade Management" under the "Trades" menu. Note that if the market is currently closed, your order will be placed on the "Open" tab and will be executed as soon as the market opens. Market hours vary for different types of futures contracts, so please be aware of the hours for your chosen futures contract before you trade. 点击 "提交买入 "后，会弹出一个窗口确认该订单。如果您再次点击 "提交买入"，您的订单将立即执行，并显示在 "交易 "菜单下 "交易管理 "的 "已成交 "标签中。请注意，如果市场目前处于休市状态，您的订单将显示在 "开市 "选项卡上，并在市场开市后立即执行。不同类型的期货合约的市场时间各不相同，因此请在交易前了解所选期货合约的市场时间。
Day-to-Day Settlements 逐日结算
In RPM, futures contracts are marked-to-market at the end of each trading day. Now that you have bought your futures, you should note these occurrences in the "Transaction Log" window under the "Futures" tab. The current value of the futures in your portfolio will be based on these mark-tomarket settlement prices. In this example, we bought 10 contracts of SIZ21-USA at per contract. Upon the purchase of the contracts, your cash balance will not change. Let's assume that at the end of the day on which you purchased them, the contracts were marked-to-market at a settlement price of . 在 RPM 中，期货合约在每个交易日结束时按市价计价。现在您已买入期货，应在 "期货 "选项卡下的 "交易日志 "窗口中记录这些情况。您投资组合中期货的当前价值将基于这些按市价结算的价格。在本例中，我们以每份 的价格买入10份SIZ21-USA合约。买入合约后，您的现金余额不会发生变化。假设在买入当日收盘时，这些合约以 的结算价按市价计价。
On the day the contracts are purchased, the difference between the purchase price and the settlement price is multiplied by the number of contracts purchased and the contract size of the futures to result in the profit/loss on your futures positions. In this example: price difference * # of contracts * contract size . For each following day, the difference between the settlement price on that day and that of the previous trading day will be multiplied by the number of contracts you own and the contract size of the futures, resulting in the profit/loss on your futures positions. 在买入合约当天，买入价与结算价之间的差额乘以买入的合约数量和期货合约大小，就得出了期货头寸的盈亏。在这个例子中：差价 * 合约数 * 合约大小 。接下来的每一天，当日结算价与前一个交易日结算价的差额将乘以您持有的合约数量和期货合约大小，得出您期货仓位的盈亏。
You can view your futures positions, contract sizes, expiration dates, as well as the most recent settlement prices under the "Futures" tab in the "Portfolio Watch" window. 您可以在 "投资组合观察 "窗口的 "期货 "标签下查看您的期货仓位、合约大小、到期日以及最新结算价。
Expiration 到期
Futures are marked-to-market for the last time at the end of the last trading day, specific to each type of contract. On the expiration date, your positions will automatically be closed out in RPM, i.e. if you are long futures contracts, these will be sold, and if you are short futures contracts, they will be bought back. Hence, your futures position will be 0 after the close-out. 期货在最后一个交易日结束时最后一次按市价计价，具体到每一种合同。在到期日，您的头寸将在 RPM 中自动平仓，即如果您持有多头期货合约，这些合约将被卖出，如果您持有空头期货合约，这些合约将被买回。因此，平仓后您的期货头寸将为 0。
Portfolio Analysis 投资组合分析
The portfolio value is updated on a daily basis after market is closed. 投资组合价值在每天收市后更新。
Historical Returns 历史回报
From the "Historical Returns" tab, you can see a graphical presentation of your daily portfolio performance over time along with the Sharpe ratio. If you right-click on the graph, you will be given the option to copy either the data or the chart to clipboard. 在 "历史回报 "选项卡中，你可以看到每日投资组合长期表现的图表以及夏普比率。右键单击图表，可以选择将数据或图表复制到剪贴板。
Once you choose "Copy Data To Clipboard", you can simply open up Excel and paste them (Ctrl + V). Then you will see your daily portfolio value and the Sharpe ratio on a time-series basis. Using this raw data, you can create your own charts and perform your own analysis. 选择 "将数据复制到剪贴板 "后，只需打开 Excel 并粘贴即可（Ctrl + V）。然后，您就可以看到每日投资组合价值和夏普比率的时间序列。利用这些原始数据，您可以创建自己的图表并进行分析。
Asset Allocation 资产配置
The will show you how your assets are allocated in your portfolio. You can view your asset allocation based on Vehicle Type, Country, Sector, Industry, and Ticker by selecting the "Filter By" options. Each filter is based on the specific classification of the securities, and your cash balance is classified as "None" when filtering by Sector, Industry, or Ticker. 这将显示您的资产在投资组合中的分配情况。您可以通过选择 "筛选条件 "选项，根据车辆类型、国家、部门、行业和股票代码查看您的资产分配情况。每个过滤器都基于证券的具体分类，在按部门、行业或 Ticker 过滤时，您的现金余额会被归类为 "无"。
Furthermore, you can view how securities in each category (industry, in this case) are allocated by left-clicking on each section of the pie chart. You can keep filtering it by other categories until it reaches the last sub-category. 此外，您还可以左键单击饼图的每个部分，查看每个类别（本例中为行业）的证券是如何分配的。您可以继续按其他类别进行筛选，直到最后一个子类别为止。
You can also right-click on the chart to copy either the data or the chart. This feature is available for all the analysis and allocation tabs under the Portfolio Analysis section. 您还可以右键单击图表，复制数据或图表。该功能适用于投资组合分析部分下的所有分析和分配选项卡。
Benchmark Analysis 基准分析
This tab allows you to compare your portfolio performance to various benchmarks. You can choose four types of benchmarks for this analysis; Class Benchmark, Class Average, User, and Custom. 通过该选项卡，您可以将投资组合表现与各种基准进行比较。您可以选择四种基准进行分析：类别基准、类别平均值、用户基准和自定义基准。
Class Benchmark: a default benchmark set by the professor/instructor of your class Class Average: an average of the daily portfolio performance of the students in your class User: the daily portfolio performance of another student in your class, selected by you Custom: a benchmark that can be set manually by you 班级基准：由班级教授/导师设置的默认基准 班级平均值：班级学生每日投资组合表现的平均值 用户：由您选择的班级其他学生的每日投资组合表现 自定义：可由您手动设置的基准
Note: When using an index as a "Custom" benchmark for your analysis, please make sure to use a correct ticker according to the RPM ticker symbology. (e.g. ".SPX" for S&P 500 Index) The tickers for different indices can be found under the "Indexes" tab in the Ticker Search window on RPM. 注意：在使用指数作为分析的 "自定义 "基准时，请确保根据 RPM 代码符号使用正确的代码（例如，".SPX "表示标准普尔 500 指数）。(例如，".SPX "表示标准普尔 500 指数）不同指数的代号可在 RPM "代号搜索 "窗口中的 "指数 "选项卡下找到。
Note that you can view performance indicators (i.e. alpha, beta, tracking error, and information ratio) on the top-left corner. These values will automatically change depending on the benchmark and time period you choose from the top menu. 请注意，您可以在左上角查看绩效指标（即阿尔法、贝塔、跟踪误差和信息比率）。这些数值会根据您从顶部菜单中选择的基准和时间段自动更改。
Again, you can right-click on the graph to copy the data in order to perform your own analysis. 同样，您可以右键单击图表复制数据，以便进行自己的分析。
Attribution Analysis 归因分析
This analysis section illustrates how your current and/or previous holdings have contributed to the performance of your portfolio. The attribution percentage is calculated as the profit or loss from each security divided by the portfolio value at the beginning. 本分析部分说明您当前和/或之前持有的证券对投资组合业绩的贡献。归因百分比的计算方法是：每种证券的利润或亏损除以投资组合开始时的价值。
You can view the attribution based on vehicle types, countries, sectors, industries, and/or tickers. You can also use multiple categories to filter the attribution analysis by left-clicking on the bar graph and choosing a specific category. 您可以根据车辆类型、国家、部门、行业和/或股票查看归因。您还可以使用多个类别来过滤归因分析，方法是左键单击柱形图并选择特定类别。
Please also note that you can right-click on the graph to copy the data and paste it in a spreadsheet to perform your own analysis. 还请注意，您可以右键单击图表，复制数据并将其粘贴到电子表格中，进行自己的分析。
Custom Categories 自定义类别
This function allows users to change the properties of securities that you currently hold in your portfolio for the purpose of portfolio analysis. Such properties include the Country, Sector, Industry, and Vehicle Type of each security. Using this customization feature, users can individually classify their portfolio holdings for their needs; in other words, these customized categories will be applied to the whole portfolio analysis section. 该功能允许用户更改当前投资组合中所持证券的属性，以便进行投资组合分析。这些属性包括每种证券的国家、部门、行业和车辆类型。利用这一自定义功能，用户可以根据自己的需要对投资组合中持有的证券进行单独分类；换言之，这些自定义类别将应用于整个投资组合分析部分。
For example, assume a user has an ETF (i.e. XRB-CA) that mimics the performance of the iShares Canadian Real Return Bond Index in the user's portfolio which is only consisted of equities (i.e. stocks, or ETFs). This ETF, by default, will be classified as a stock with other similar ETFs and equities in the portfolio. 例如，假设用户的投资组合中只有股票（即股票或 ETF），而该投资组合中的 ETF（即 XRB-CA）模仿了 iShares Canadian Real Return Bond Index（iShares 加拿大实际回报债券指数）的表现。默认情况下，该 ETF 将与投资组合中的其他类似 ETF 和股票一起被归类为股票。
This user's portfolio asset allocation will be shown similar to the pie chart below. 该用户的投资组合资产配置将显示为类似下面的饼图。
As mentioned earlier, the asset allocation by vehicle type will show only cash and stocks, since it only consists of equities. However, let's assume that the user wants to "classify" this particular ETF (XRB-CA) as a "Bond" for the purpose of the portfolio analysis, because the user wants to analyse the portfolio performance based on the "nature" of contents of individual ETFs, which, in this case, consists of bonds. 如前所述，按工具类型划分的资产配置将只显示现金和股票，因为它只包括股票。但是，假设用户希望将这只 ETF（XRB-CA）"分类 "为 "债券"，以便进行投资组合分析，因为用户希望根据单个 ETF 内容的 "性质 "分析投资组合的表现，在本例中，ETF 的内容包括债券。
Then the user will go to the "Custom categories" tab under Portfolio Analysis, and "customize" the properties of the ETF, XRB-CA, as shown below. Please make sure to press "Enter" after changing the properties. 然后，用户将进入 "投资组合分析 "下的 "自定义类别 "选项卡，"自定义 "ETF XRB-CA 的属性，如下图所示。请确保在更改属性后按下 "回车键"。
Now if you go back to the Asset Allocation tab under Portfolio Analysis, you will see that a section of your allocation pie chart is classified as "Bond" when filtered by Vehicle Type. If you would like these custom categories settings to remain in place after you log out of RPM, please make sure to click the "Save" button in the top left. Please note that these settings apply to the Attribution Analysis tab as well, which shows the attribution of current/previous holdings to the performance of portfolio. However, this will not change the information displayed in the "Portfolio Watch" under the "VType" column as the value is directly pulled from our data vendor for this module. 现在，如果您回到 "投资组合分析 "下的 "资产配置 "选项卡，就会看到在按 "车辆类型 "筛选时，您的配置饼图中有一部分被归类为 "债券"。如果您希望这些自定义类别设置在退出 RPM 后保持不变，请务必点击左上角的 "保存 "按钮。请注意，这些设置也适用于 "归因分析 "选项卡，该选项卡显示当前/之前所持资产对投资组合表现的归因。不过，这不会改变 "VType "栏下 "投资组合观察 "中显示的信息，因为该模块的值直接来自我们的数据供应商。
Historical Charting 历史图表
To access historical pricing information and perform select technical analysis on a security, open the "Historical Charting" module. Enter the ticker in the field labelled "Security", select the desired time range, and click "Submit". Use the "Chart" drop-down menu to change the type of chart shown from candle (default) to line or bar (OHLC) as required. Click on the green (○) button to choose from the list of available technical indicators. If necessary, set the appropriate parameter when prompted and click OK. 要访问历史定价信息并对证券进行精选技术分析，请打开 "历史图表 "模块。在 "证券 "字段中输入股票代码，选择所需的时间范围，然后点击 "提交"。使用 "图表 "下拉菜单，根据需要将显示的图表类型从蜡烛图（默认）改为线形图或条形图（OHLC）。点击绿色 (○)按钮，从可用技术指标列表中进行选择。如有必要，在出现提示时设置相应参数，然后单击 "确定"。
To remove an indicator, click on the red button and select it from the drop-down menu. 要删除指标，请单击红色 按钮，然后从下拉菜单中选择该指标。
When changing the security or time frame to display, click on "Submit" after making the desired change. Click and drag horizontally to zoom in on a time period, and use the green arrows button to the left of "Submit" to revert to the original chart. 更改要显示的证券或时间段时，请在做出所需更改后点击 "提交"。点击并水平拖动可放大某个时间段，使用 "提交 "左侧的绿色箭头按钮可还原到原始图表。
Right click anywhere on the chart and check/uncheck "Legend" to add/remove it. You can also right click anywhere to copy the data or chart so that it can be pasted into Excel. 右键单击图表上的任意位置，选中/取消选中 "图例 "以添加/删除图例。还可以右键单击任意位置复制数据或图表，以便粘贴到 Excel 中。
Copyright (c) 2016, Rotman School of Management. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means - electronic, mechanical, photocopying, recording or otherwise - without the permission of Rotman School of Management. 版权 (c) 2016 年，罗特曼管理学院。未经罗特曼管理学院许可，不得以任何形式或手段（电子、机械、影印、录制或其他方式）复制、在检索系统中存储、在电子表格中使用或传播本出版物的任何部分。
