TT Order Types

TT Time Sliced order

TT Time Sliced order

A Time Sliced order slices a large quantity order into smaller disclosed orders. Child order portions are sent to the market at fixed time intervals. The resting portion might not be filled before it is time to disclose the next portion.

For example, suppose you want to create a time sliced order that places a market order for 10 percent of its order quantity every 30 seconds. You would specify the following TT Time Sliced order parameters.

In addition to adjusting the size and timing of child orders, you can:

  • Adjust the leftover actions to specifies how to handle a child order at the end of a time slice.
  • Define a trigger condition to begin submitting child orders into the market.
  • Set a time and date to start working your TT Iceberg parent order.

TT Time Sliced order parameters

Time Slicer details parameters

  • Interval: Sets the length of the slice.

    Valid time units include:
    • Min (minutes)
    • Sec (seconds)
    • Ms (milliseconds)

    Note: A time slice must be 100 ms or greater.
  • Display: Sets the displayed quantity, or the amount that is visible in the market.

    The displayed value can represent:
    • Qty for an specific number of contracts
    • % for a percentage of the total order

    When the displayed quantity is specified as a percentage:
    • If the quantity is less than 1, the quantity rounds up to 1.
    • If the fractional portion is less than .5 (e.g. 3.2), the quantity rounds down.
    • If the fractional portion is greater than .5 (e.g. 3.7), the quantity rounds up.
    • If the fractional portion is exactly .5, the quantity rounds up.
  • Child order type: Sets the type of exchange-native order to use for the order. Possible values include:
    • Limit
    • Market
    • MLM (Market Limit Market)
  • Offset — Sets the number of ticks away from the specified price to submit the order. This parameter is optional if the order type is "Limit".

    The offset can be based on one of the following prices:
    • LTP
    • Ask
    • Bid
  • With a Tick: Sets the threshold for the With A Tick behavior that reprices the order one tick toward the market when available quantity at the opposite inside market is at or below the specified quantity threshold.

    The quantity can be specified as:
    • Qty for an absolute number of contracts
    • % for a percentage of the initial quantity for this order
  • Leftover action to specify how to handle any existing unfilled order quantities when it is time to send the next portion. Options include:
    • Leave to leave the resting child order portion in the market.
    • Payup to change the price based upon the buy/sell direction of the order and the Payup Ticks value.
  • Payup ticks: Sets the number of ticks to add or subtract from your Bid or Offer to determine the price of the limit order.

    The limit price is based on the buy/sell direction of the order.
  • Auto-Resubmit Upon GTD Expiry: Valid only when the child order TIF is Day (GTD). If any child orders are not completely filled by the session close, the exchange will expire the child orders; when the market reopens, the parent order will then resubmit the child orders with the same parameters as when they expired.

Trigger parameters

  • Trigger: Sets the type of order trigger for the parent synthetic order

    Possible types include:
    • Stop
    • If-Touched
  • Price Type: Sets the price at which to trigger the parent synthetic order.

    Possible values include:
    • LTP: Last Traded Price
    • Ask: Best Ask
    • Bid: Best Bid
    • Same Side: Evaluates the trigger using the inside market price in the Buy/Sell direction of the order:
      • Best Bid for Buys
      • Best Ask for Sells
    • Opposite Side: Evaluates the trigger using the inside market price in the opposite Buy/Sell direction of the order:
      • Best Ask for Buys
      • Best Bid for Sells
    Note: Using Same and Opposite sides instead of Bid and Ask lets you create a single order template that works when submitting either Buy or Sell orders instead of requiring separate templates for Buy and Sell orders.
  • Trigger: Sets the type of order trigger for the parent synthetic order

    Possible types include:
    • Stop
    • If-Touched
  • Trail (ticks): Specifies the number of ticks away from the specified Price Type the order should trail the market.

Timing parameters

  • Start: Sets the date and time to start executing the order

    Possible values include:
    • Now to start the order immediately
    • Time to display a date/time picker for you to indicate when to start the order
  • End: Sets the time to stop executing the logic of the order

    Possible values include:
    • GTC, which leaves the order working until canceled
    • Time, which displays a date/time picker for you to indicate when to stop the order
    • Day, which leaves the order working until the market closes

    If End Time is selected and the End Time is reached, the order is deleted and the specified End Action is applied to its child orders. If the trading session is closed when the End Time is reached, the delete request will fail, leaving working GTC child orders on the exchange. It is your responsibility to delete these orders when the exchange re-opens.
  • At End Action: Sets the action to take for any unfilled balance when the End time is reached.

    (Visible only for a custom End time) Possible values include:
    • Cancel to delete the remaining contracts