TT's Position Transfer service prevents self-matching on the same account, and provides the added benefit of internally matching trades that may potentially cross. Virtual fills are generated and included in each trader's position and P/L. Position Transfer provides the following benefits:
Position Transfer is enabled using the Order Cross Prevention field when creating a new account or modifying an existing account. If set on a parent account, any child sub-accounts of that parent account also inherit the Position Transfer setting.
When a matching order is detected in an account with Position Transfer enabled, the resting order is canceled or the working order quantity is reduced by the size of the aggressive order. A fill is created by TT and sent to each account. Virtual fills are generated and included in each traders position and P/L.
If the aggressive order was larger than the resting order, then the remainder of it will be sent to market. In the TT Trade application, the results of the position transfer are logged in the Audit Trail and Fills widgets.
Once your order is submitted and it is determined that there is a working order that matches and could potentially fill the order, the new order is held and Position Transfer attempts to cancel or change the existing order based on the quantity of the new order as follows: