After claiming a staged order in the Order Book, the owner can submit child orders related to the parent staged order using the Order Ticket. The child orders can be sent to the exchange in the same account as the parent order, or sent in different accounts. The different accounts can be the owner's direct market access (DMA) accounts that are inaccessible to the originator, or can be child accounts that are part of the same parent-child account hierarchy accessible to the originator.
Child orders can be sent in multiple accounts to fill the same staged order. If you use the account default functionality, those predefined rules will seed the execution accounts based on markets, product types, and specific products.
Child orders can be submitted simultaneously or at different times, allowing the staged order to be worked based on market conditions. When owners work a staged order at any point in time, they have access to a full Audit Trail of the order. The Audit Trail includes information about when the order arrived and was claimed, as well as when the order was filled, modified, and/or canceled and replaced, etc.
When submitting a child order for a claimed staged order, the owner cannot:
To submit related child orders:
Click the B (Buy) or S (Sell) button in the B/S column for the staged order.
The Order Ticket opens seeded with the staged order details, and shows either the Buy or Sell button based on whether the parent staged order is a Buy or a Sell order .
If you change the quantity that is seeded in the Order Ticket, you cannot exceed the staged order quantity. You can submit multiple child orders at lower quantities, but the sum of the child order quantities cannot exceed the staged order quantity. Also, you can change the price if it betters the trade (i.e., buy at a lower price or sell at a higher price).
All native exchange order types and TT synthetic order types are supported when submitting a child order.
Click the single BUY or SELL button in the Order Ticket to submit the child order to the exchange.
Note: After submitting the order, you can click the plus sign (+) in the working staged order row in the Order Book to show all child orders related to the parent staged order.