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X_TRADER®

Passing and Accepting Working Orders

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

Passing an Order

You can pass all partially filled, held, or modified working orders except for the following:

  • Child orders (however, the parent order can be passed)
  • Autospreader parent orders submitted via the Desktop
  • Position Reserve orders
  • Staged orders
  • Synthetic parent and child OCO orders (however, native parent and child OCO orders can be passed)
  • Parent and child orders submitted by an algo

Note: You cannot attach an OMA to a passed order.

You cannot pass working (unfilled) Cross orders or any other OTC/wholesale orders; wholesale trading availability varies by exchange.

Orders managed by Autotrader can be passed; however, the order will be deleted when Autotrader is closed (e.g., if the originator shuts down their X_TRADER).

Note: X_TRADER 7.17.40 and higher disables order passing for BrokerTec Gateway connections because BrokerTec requires the originator to always maintain the order. If a trader identifier is changed, the exchange rejects the order. For more information about how each TT Gateway meets exchange requirements for order passing, refer to Order Passing Support.

To pass an order...

  1. Select a working order in the Order Pane of the Order Book window or Order and Fills Window.
  2. Click the Order Passing button, select a caretaker, and click Pass.

    Result: Pending Out is displayed in the Pass State column, and the name of the selected caretaker is displayed in the Caretaker column. When the order pass is accepted by the caretaker, the order row is displayed in italics.

    Click Undo Pass if you want to select a different caretaker before passing the order.

Accepting or Rejecting a Passed Order

When an order originator passes an order to you, you’ll see the following in the Order Pane of your Order Book or Order and Fills window:

  • A highlighted order row with Pending In displayed in the Pass State column
  • The originator name in parentheses displayed in the Caretaker column

To accept an order...

  1. Select the passed order in the Order Pane of the Order Book window or Order and Fills Window.
  2. Click the Order Passing button and click Accept or Reject

    After accepting the passed order, the name of the originator in parentheses remains in the Caretaker column and the Pass State column goes blank.