StopLimit orders

[tmd]

Using Patsystems and trading through RCG,I placed a stoplimit order to buy 2 emd contracts at 809 this morningand only one contract was filled.Since this was a working order at the CME, I thought that it was resting at the exchange andboth contracts would be filled at 809.If it was resting on my computer, I could understand why both contracts were not filled at 809. But it was resting at the CME. Please help me to understand how a resting stoplimit works at the exchange. Thanks.

[NinjaTrader_Ryan]

Thank you for your note.



The resting locations of your orders are dependant on several variables including broker, order type and exchange type.



It is first important to understand NinjaTrader Order Status types:



PENDING - Order submitted

REJECTED - Order rejected

CANCELLING - Cancel requested but not confirmed

CANCELLED - Cancel confirmed

FILLED- Order filled

ACP_BKR - Accepted at broker

ACP_XCHG - Accepted at exchange





ACP_BKR (light blue color in DOM) and ACP_XCHG (green color in DOM) are the two states we need to be concerned with to determine order resting location. Whenever an order is ACP_XCHG it means the order is resting at the exchange. Should anything happen to your PC or internet connection your order is still alive and working.



If an order is ACP_BKR it can mean several things.

For Patsystems -



It means the order is synthetic and the order is resting on your PC. If your PC crashes or your internet connection goes down, this order will be lost.

How do I know which order types will receive an ACP_XCHG (resting at the exchange) state?



This is dependant on the exchange itself and what order types they choose to support as native exchange order types. For example, all stop order types on ECBOT are NOT exchange supported where GLOBEX stop order types are.

Best regards,

Ryan

[tmd]

I am aware of the post you just sent me and I've read it before. But it fails to answer my question as to why I was only filled on 1 emd contract when both contracts had the state of WORKING (not ACCEPTED)on NT. If the order was merely ACCEPTED then that would mean the order was synthetic and would also explain why I wasn't filled on both contracts. BUTthe state of NT said it wasWORKINGat the exchange, so both contracts should have been filled.Am I missing something?

[NinjaTrader_Ray]

Tmd,

This is outside the scope of NinjaTrader since once an order is at the exchange, our application has no influence on how it is filled. We only receive the order and fill update status from the exchange via the Patsystems server.

What I suggest in this case is get the order id number of this stop order from the NT order tab, contact your broker and ask them to provide an explanation why this order was only partially filled.

I suspect that since it was a stop limit, the market exceeded your limit price and you were not filled on the remaining contract?

Ray