Order reference
Every order ticket is defined by its parameters. Some parameters are required; others are optional or depend on the type of trade.
- Broker. Who receives instructions to fill the order. The default auto-selects.
- Side. Instructions to purchase or sell the asset.
- Quantity. The number of assets to buy or sell.
- Symbol. The ticker symbol of the asset.
- Order type. The type of order to execute.
- Price: The price at which to buy or sell (for order types such as limits).
- Time in Force. Instructions about how long an order remains active before it executes or expires.
- Custom fields and instructions. Additional parameters and text for the broker.
You must enter the value of open-ended parameters, such as Price and
Symbol. Other parameters, such as Order Type, are limited to a selection
of defined values. Price is forbidden for market-type
orders.
Order side
The Side parameter provides instructions for how to buy or sell an asset. Its values must be one of the following.
| Side | Description |
|---|---|
| Buy | Purchase an asset |
| Sell | Sell an asset |
| SellShort | An order to sell an asset and then repurchase it on a later date |
| SellShortExempt | An order for an exempt short sell |
| BuyMinus | Buy an asset below the current price |
| Cross | Execute a cross trade |
| CrossShort | |
| SellPlus | An order to sell an asset at some amount above the current price |
| Undisclosed |
Order types
The Order Type parameter provides instructions for how to buy or sell an asset. Its value must be one of the following.
| Order type | description |
|---|---|
| Market price | An order to buy or sell an asset immediately as and the current |
| Limit | An order to buy or sell an asset only if the price reaches a pre-defined level |
| MarketOnClose | A market order executed as near to closing price as possible |
| ForexLimit | A limit order in the Forex market |
| ForexMarket | A market order in the Forex Market |
| ForexPreviouslyQuoted | |
| ForexSwap | An order to change one currency for another |
| Funari | A limit order that changes to a market order at the close of day |
| LimitOnClose | A limit order executed only if the closing price is within the limit |
| LimitOrBetter | To buy at the indicated price, or at a more favorable price |
| LimitWithOrWithout | |
| OnBasis | An order to buy or sell at the basis price |
| OnClosed | |
| Pegged | An order to buy an asset linked to a market index |
| PreviouslyIndicated | Order sent in response to an indication of interest |
| PreviouslyQuoted | An order sent in response to a quote |
| StopLoss | An order to exit a position at market price if a price moves to a certain level |
| StopLimit | A StopLoss to sell at a certain price |
| WithOrWithout |
Time in Force
The Time in Force parameter instructs how long an order remains in force. It must be one of the following values.
| Time in force | Description |
|---|---|
| Day | Either filled during the day, or expires when the session closes |
| GoodTillCancel | Stays open till the order fills or is cancelled |
| AtTheOpening | Filled when the market opens (and at opening price) |
| ImmediateOrCancel | Immediately fill as much as possible at the specified price, and cancel the rest. |
| FillOrKill | Immediately fill the entire order or cancel. |
| GoodTillCrossing | Expires immediately before crossing session |
| GoodTillDate | Expires on specified data |
| AtTheClose | Expires at market close |
Additional instructions
Besides the dropdown parameters, these fields accept user-added details.
| Field | Description |
|---|---|
| Text | A free-form text field |
| Account | The account to execute the trade with |
| External Destination | The destination of the trade order |
| Max floor | The maximum order quantity to show in the order book, also known as an "Iceberg Order" |
| Peg to Midpoint | Order at the average of the bid and ask price. The price is set just before the order goes out. |
| Peg to Midpoint Lock | Order at the average of the bid and ask price exactly as seen on Send |
You can also target an order to a broker-specified algorithm with Broker Algos.* Finally, use the Custom Fields parameter to add any additional FIX fields and values