Stop Limit Orders
ICE Gateways Version 7.3.4 and higher support stop limit orders for futures. The behavior of the stop limit order depends on the type (bid/ask) that is forwarded to the Exchange:
- Stop Limit Order to Buy (Bid): When submitted and the stop price is met, the stop limit order becomes a limit order to buy at a price no higher than the specified price.
- Stop Limit Order to Sell (Ask): When submitted and the stop price is met, the stop limit order becomes a limit order to sell at a price no lower than the specified price.
Submitting Stop Limit Orders
Once submitted, the Order Server sends the stop limit order data to the Exchange and forwards the order’s status as “Pending Trigger” to the client application. Once the stop price is met, the Order Server receives the confirmation from the Exchange and updates the order’s status as “Working”.
The Order Server rejects the following types of stop limit orders:
- Stop limit orders submitted with an invalid stop price.
- Stop limit orders submitted with a reserve quantity.
- Stop limit orders submitted with a restriction (e.g., GTDate) or an order expiration date other than Day.
- Stop limit orders on products not listed in the section called Supported Products.
For complete information on how ICE Gateway handles stop limit orders, refer to the Exchange’s official documentation.
If a disconnect occurs, the Order Server places all stop limit orders on Hold. Once reconnected, all stop limit orders appear as Hold in the Order Book.
The ICE currently supports stop limit orders for the following futures products:
- Canadian Grains and Canadian Oilseeds
- Coffee, Cocoa, and Sugar
- FCOJ, Cotton, Pulp
- Russell Indices
- US Dollar Index
- Foreign Exchange
The Exchange is currently working to provide Stop Limit support for ICE UK Futures. Also, ICE can update the list of supported products at anytime. Please refer to the Exchange’s documentation for the most current information on stop limit support.