Try TT Now

X_TRADER®

Algo Behavior at Market Close

You are viewing X_TRADER Version 7.17 and higher. For earlier versions, click here

ADL provides order block parameters which when used in combination allow you to specify how to handle your algos when the trading session ends:

 

Parameter

Description

Ignore Market State
  • Applies to entire algo (i.e., parent and all related child orders)
  • When enabled, the algo continues to run even if an instrument used by the algo closes

Note: By default, parent algo orders are paused when the market closes

Leave Orders on Pause
  • Applies to an algo child order
  • When enabled and the parent algo order is paused, the child order continues to work in the market
Leave Orders on Cancel
  • Applies to an algo child order
  • When enabled and the parent algo order is canceled, the child order continues to work in the market
Good 'til Cancel (GTC)
  • Applies to an algo child order
  • When enabled, the child order is sent to the exchange as a GTC order

Note: By default, GTC orders are canceled according to exchange rules

 

The following table provides examples of how these parameters can be used to instruct Algo SE to take specific actions on the algo order and its related child orders at the end of the trading session.

Note: In the table below, Order X represents a child order to which these parameters are applied.

 

Ignore Market StateLeave On PauseLeave On CancelGTCActions Taken Upon LaunchActions Taken Upon Market Close

Algo immediately begins operation, submitting relevant child orders

  • If order is rejected, algo pauses and attempts to delete all child orders; Algo leaves Order X (assuming Order X was successfully added)
  • If all orders are accepted, algo continues operation

The algo will continue to run past the close and Order X will stay in the market untouched

 

The algo will continue to run past the close. Exchange will delete Order X from its book since the order is not a GTC order

  

Algo immediately begins operation, submitting relevant child orders

  • If order is rejected, algo pauses and attempts to delete all child orders
  • If order is accepted, algo continues operation

The algo will continue to run past the close and Order X will stay in the market untouched.

   

The algo will continue to run past the close. However, the exchange will delete Order X from its book since the order is not a GTC order.

 

Algo waits for all instruments used by the algo to be in the “Trading” state and then begins operation.

The algo will pause but leave Order X in the market. The exchange will also recognize Order X as a GTC order and leave it untouched.

  

The algo will pause but leave Order X in the market. However, the exchange will delete Order X from its book since the order is not a GTC order.

   

The algo will pause and delete Order X.

    

Tip: Parent order Time-in-Force restrictions of Fill or Kill (FOK), Immediate or Cancel (IOC), Good in Session (GIS), and Good 'til Date (GTDate) are not supported.