Variables are keywords that define characteristics of the barter order such as (1) closeness of the buy-side and sell-side dollar amounts, (2) industry closeness of the two legs, (3) volumes, (4) market capitalizations, etc. Additionally, you can use variables to test for inclusion in default symbol lists, such as the S&P500, or in symbol lists that you define using the Symbols menu in the Toolkit.
Operators are usually equality and inequality signs, but change to <IN> and <NOT IN> when a variable is testing for inclusion in a symbol list.
An example of a condition is:
Delta < 10%,
where Delta is a measure of the closeness of the buy-side and sell-side
dollar amounts. A delta of 10% means that the dollar amounts of the two
barter order legs differ by 10% of the greater amount.
Another example of a condition is:
buy_symbol IN "Big Tech",
where "Big Tech" is the name of a symbol list that the user has
defined.
In the example shown in the toolkit, "Inventory_Buy_Val" represents the
dollar amount of our inventory in the symbol that we're buying. The
rule filters for an incoming barter order in which we're short at least
$500,000 of the symbol that we have to buy, and long at least $500,000
of the symbol that we have to sell. If these conditions are satisfied,
we can afford to be very aggressive in setting our offer price and size.
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