A Synthetic Order Algo (SOA) in ADL is similar to an Order Ticket Algo (OTA) in that it's launched at order entry like a TT Order Type. However, an SOA differs from an OTA in three significant ways:
When the SOA is deployed, it also appears in the list of order type values, as shown.
Both the parent and child orders submitted by an SOA are displayed in the MD Trader widget. If the algo creator enables Synthetic Algo Order (SOA) setting in ADL, the Show algo order on ladder setting is automatically checked (and cannot be disabled).
When a Synthetic Order Algo order is submitted, the order initially displays 0 for the working quantity of the parent order and * for the undisclosed quantity. Child orders appear as normal working orders. If a child order is placed at the same price level as the parent SOA order, the working quantity reflects the total working quantity of all child order placed at that level. If the child orders are placed at a different price level, the parent order working quantity continues to display 0.
(1) SOA parent synthetic order with child exchange orders at the same price level
Note: To see the submitted quantity of the parent order, middle-click the order to display the Floating Order Book.
Note: If an SOA delays submitting its first child order, the working quantity of the SOA parent order will remain 0 until the first child order is submitted.