The Tailor Made Combination (TMC) functionality supports the creation of user-defined combination order books in the central system. It enables market participants to place working good-for-day multi-leg orders that, when matched at the given net price, trades simultaneously all the legs without any execution risk.
Once created intraday, the TMC is visible to the entire market and lives throughout the trading day. Working TMC orders are ranked and matched as normal outrights orders according to 1) price and 2) time.
As with pre-defined combination order books like the OMXS30 futures roll, matching of a TMC order can be performed within the combination order book and also against outright orders and quotes. In order to maximize the probability of execution, the central system generates implied orders (a.k.a. derived orders) for the component legs of a TMC.