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Expired Order Status Identification

Overview

The TT Gateway 7.16.9 or higher sends an expired order status identifier to FIX Adapters when orders are expired by the Exchange (e.g., expired GTD order).

TT Client Impact

FIX Adapter 7.8.5 and higher includes a configurable option (Send Expired Order Status) that enables Order Routing and Drop Copy FIX Adapters to send an expired order status to FIX clients. These FIX Adapters only send the expired status if it’s received from the TT Gateway. For more details about the FIX Adapter impact, refer to TT FIX Adapter Reference Manual.

For all other TT client trading applications, the expired order status identification is transparent to the end-user and there is no impact.

Gateway Behavior

After a user's order is expired by the exchange host, the TT Gateway identifies the order as being expired by the Exchange and forwards the order status to the client trading applications.

The TT Gateway identifies the order status as being expired by the Exchange in the following scenarios:

  • Orders that are removed at the end of the session due to expiration (e.g., day orders or GTDate orders that expire at the end of the Exchange's trading session).
  • Orders that are removed at the end of the session due to the contract's expiration, including GTC orders.Orders that are removed by the Exchange due to an order session disconnect.

Exceptions

Some TT Gateways (e.g., BrokerTec, MEFF) can provide an expired order status, but not until the next trading day after orders are expired at the Exchange. The exceptions listed in this section apply to TT Gateways that cannot provide an expired status at the end of a trading session on the same day for the following orders:

  • GTC orders that are canceled by the Exchange due to an expired contract if the Exchange does not notify the TT Gateway at the end of the trading session on the last day of the contract. This may occur on the following exchanges:
    • CFE
    • Eurex
    • NYSE Liffe
    • TFX
    • TSE
  • Day orders (GTD) on BrokerTec and MEFF if there are working orders when the exchange closes.
  • GTDate orders on Exchanges using LIFFE CONNECT Gateways.
  • Orders canceled by the Exchange or a third-party application while the TT Gateway is down.
Note

There are specific situations that affect the overall behavior of the expired order status identifier. Due to the variety of possible scenarios, this list is not comprehensive but provides a general view of what can impact this functionality.