Order Book

Order Book

Synthetic order types overview

A synthetic order is an order managed within TT that submits orders to the exchanges. A synthetic order consists of a parent order and the child orders it submits to the exchanges. TT supports a variety of synthetic orders, including:

  • ADL® algos
  • Aggregator orders
  • Autospreader orders
  • Staged orders
  • TT order types

The Order Book displays synthetic orders with child orders nested below the parent order.

  1. ADL Algo parent synthetic order. ADL algo parent orders show ALGO in the Exch column and list the name of the algo (Limit w Offset) in the Contract and Type columns.

    In this example, you can see that the parent order manages one child limit order.

  2. TT Order Type synthetic parent order. TT Order type parent orders show the exchange name followed by an asterisk (CME*) in the Exch column and the name of the TT Order type (TT Time Sliced) in the Type column.

    You can see that this parent order manages the three child limit orders shown in the rows below it.

  3. Autospreader parent order. Autospreader parent orders show ASE in the Exch column and the name of the spread (ZBZN) in the Contract column

    Here, you can see that the parent order manages the two child limit orders below it.

The Order Book allows you to hide child orders by collapsing their parent orders.

The TTOrderID, ParentID, and Child Orders columns also provide information to identify parent synthetic orders and their associated child orders.

  1. All parent and child orders have a TTOrderID.
  2. Child orders also show the order ID for their parent orders in the ParentID column.
  3. The Child Orders column displays the number of child orders being managed by each parent synthetic order. Child orders always show 0 in this column.