TT Order Types

TT Order Types

TT Time Sliced

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. If the child order is still working at the end of the slice, you want to cancel the child order and submit a limit order one tick higher than the market. You would specify the following TT Time Sliced order parameters.

TT Time Sliced order parameters

The following parameters are required:

  • Interval to set 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 to set 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 to set the type of exchange-native order to use for the order. Possible values include:

    • Limit
    • Market
    • MLM (Market Limit Market)
  • 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 resting child order portion in the market.
    • Payup to cancel the resting child order portion and submit a limit order for the remaining quantity; the limit price is based upon the buy/sell direction of the order and the Payup Ticks value.
  • Payup ticks to set 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.

  • 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" and a specific price is desired.

    The offset is based on the following price:

    • LTP
    • Ask
    • Bid

The following parameters are optional:

  • With a Tick — 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
  • 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 order a single order template that works when submitting Buy and Sell orders instead of using one template for Buy orders and other template for 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 to submit the child order, based on the specified Trigger price.

  • Time and Date — to set the date and time to start executing the order

    Possible values include:

    • Start, which sets the date and time to start executing the order
    • End, which sets the time to stop executing the logic of the order
  • Start — to set 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 child orders working until the market closes
    • Time, which displays a date/time picker for you to indicate when to stop the order

    When the End Time is reached, the order is deleted and the specified End Action is applied with its associated 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