Order Management Algos (OMAs)
Order Management Algos (OMA) overview
TT provides order management algos (OMAs) to let you create an order that manages other orders in the market.
The following provided algos can launched from MD Trader, please consult Launching OMAs from MD Trader.
The TT OCO 2 public algo lets you select two working orders and apply an OCO (one-cancels-other) OMA to them. When one order is fully-filled, the other order is canceled. Also, when partial fills are received for one order, the quantity of the other order is reduced accordingly. .
The TT Conditional public algo lets you set one order as the trigger condition for working a second order. The algo submits the first order directly into the market and submits the second order on hold. As the first order receives fills, the algo submits the held order into the market and automatically increments the quantity of the second order.