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X_TRADER®

Limits on Market Orders

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

Market Limit functionality provides price protection when submitting market orders and declares how many ticks into the inside market you are willing to pay to execute the order. The Synthetic SE converts a Market order into a Limit order (or a Market Limit Market order on SFE) priced a specified number of ticks into the market. The balance of any unexecuted portion of the Market order will be worked as a Limit order at that price.

 

The Market Order Limit property is available on the global PropertiesOrder Entry tab and is enabled by default.

 

The Market Limit box appears checked on the Order Panewhen you...

  • Select a Market order.
  • Select Market as the Leftover Action for Time Sliced, Volume Sliced, Time Duration, and Volume Duration orders.
  • Select Market as the End Behavior for orders with an End Date/Time.

You can uncheck the box or modify the number of ticks you are willing to pay for each entered Market order.

Market Limit functionality is also available in the Orders and Fills Window. You can select one or more Synthetic SE parent orders and use the Go To Market button with the number of ticks you are willing to pay. This functionality applies to parent orders held on the Synthetic SE and is not available for child orders currently working in the market.

Note: Market Limit functionality is not available in MD Trader and does not affect the Liquidate functionality.