Time In Force question

[Operandi]

Hi

One of our customers is requesting an auction trade entry using IB. Does NT support an auction (AUC) time in force please?

Thanks

Chris

[NinjaTrader_Bertrand]

Hi Operandi,

Please explain in more detail what your customer requests.

We have GTC and Day TimeInForce options, please see also this link here - http://www.ninjatrader-support.com/HelpGuideV6/TimeInForce.html

[Operandi]

Hi Bertrand

AUC (auction) is one of the IB time in force options for some exchanges, as described here (http://www.interactivebrokers.com/en/software/tws/usersguidebook/ordertypes/auction.htm)

I guess NT only supports Day and GTC time in forces. Is that correct?

Thanks

Chris

[NinjaTrader_Bertrand]

Hi Chris,

Correct orders at the COP are not supported.

Only Day and GTC as you stated in your post.

Have a great day!

[Anagoge]

I sometimes use MOC (market on close) orders. Many exchanges support those now. They are basically market orders that execute right at the close at as close to the closing price as possible. It would be great if NT could use daily historical data to simulate something close to a market on close order by allowing submit of the order on a closing daily bar in OnBarUpdate, without having to have the larger overhead of loading minute bars and trying to submit an order a couple of minutes before the market close (even though that is more realistic, I've found the differences just average out in real-life and make it not worth the minute bar overhead for fairly liquid instruments).

[NinjaTrader_Bertrand]

Thanks for your input Anagoge, have a great weekend!