Using Reload Orders
Reload is an order that lets you execute a total spread order quantity by splitting the spread order into smaller disclosed quantities. When a disclosed spread order quantity is filled, the next disclosed quantity order is submitted until the entire spread order quantity fills. Reload orders can be used in conjunction with Sniper orders and can be submitted from either MD Trader or the Market Grid.
When quoting in more than one leg and one of the leg orders is filled, the remaining quoting orders will continue to work in the market to keep your queue position for the next disclosed spread order quantity.
Note: Algos cannot be used in conjunction with the Reload feature.
Example: A Reload spread order with a quantity of 10 can be disclosed to the market 2 at a time.
Once submitted, the MD Trader the spread pane shows a working quantity of 2 (W=2) and an undisclosed quantity of 8 (U=8).
Using the RLD button, you can set the Reload order to enter the market at the same price or a set number of ticks from the previously disclosed spread order.
In the example above, a Reload offset of 1 is set for the 10 lot Reload spread order that is working a 2 lot disclosed quantity at spread price of -0.0800 (W: 2 U: 8 B: 0). Once the 2 lot disclosed quantity is completely filled at -0.0800, a new 2 lot disclosed quantity is automatically submitted at a spread price of -0.0825 (W: 2 U: 6 B: 2).
You can set the Reload Offset on the MD Trader sidebar which is accessed from the Spread Pane. The Reload Offset is applied to new spread order submissions and the offset values cannot get modified for existing Reload orders working in the market.