TT Order Types

TT Order Types

TT Timed

Timed orders are used to manage a trading day (e.g., exit by market close). For instance, you might want to submit an order as soon as the market opens, or exit a position just before the market closes. Timed order parameters schedule an order's start date and time and/or end date and time and may be included as part of all TT orders.

The following describes the life cycle of a TT Timed order:

  • An order submitted with a Start Date/Time is in the Waiting state.
  • When the Start Date/Time is reached, the order goes into the Pending Trigger or Working state.
  • When the End Date/Time is reached, the Algo Server deletes the parent order and associated child orders. If the trading session is closed when the End Date/Time is reached, the delete request will fail, leaving working GTC child orders on the exchange. It is the user’s responsibility to delete these orders when the exchange re‐opens.

    Note: Time in Force settings can override the End Date/Time. The Algo Server deletes timed orders when the exchange cancels the order. For example, when the exchange cancels GTD orders at the end of the trading session, the Algo Server deletes the order even if the End Date/Time has not been reached.

For example, suppose you want to submit a Limit order at a price three ticks away from the Last Traded Price that would be canceled if it is not filled by 13:41:00.500 local time. You would specify the following TT Timed order parameters.

TT Timed order parameters

The following parameters are required:

  • Exch ord type to set the type of exchange-native order to use for the order.

    Possible values include:

    • 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" and a specific price is desired.

    The offset is based on the following price:

    • LTP
    • Ask
    • Bid
  • 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
  • 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