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X_TRADER®

Market

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

Market order is an order placed without a price with the intention of hitting the best Bid or taking the best Offer currently available in the market.

Note: Support of Market orders varies by exchange.

Placing Market Orders using the Market Window

To place a Market order...

  1. Click in the appropriate expiration/strike row on the bid or ask side of the Market Grid to seed the Order Pane with a contract.

  2. Set the order quantity.
  3. Set the routing and/or customer information.

    Note: You can setup routing rules and customer profiles, or use the <Default> profile. Refer to Creating a Customer Defaults Profile

  4. In the Order Template section, select Market in the Order Type list.

    This disables the main Price field.

  5. Click Buy or Sell once you have entered the desired order parameters to submit the order.

Placing Market Orders using MD Trader

To place a Market order...

  1. Configure Market order parameters.

    • Create an Order Template using the Order Defaults window.

      - or -

    • Enable MKT in the Enable Order Types section on the MD Properties | MD Trading tab.

      Note: If desired, assign the order type to an order button on the MD Trading tab.

  2. From MD Trader, select the Market order configuration.

    • Click the assigned Order Button.

      - or -

    • Select the Market configuration in the Order Type drop-down list.

  3. Set the routing and/or customer information.

    Note: You can setup routing rules and customer profiles, or use the <Default> profile. Refer to Creating a Customer Defaults Profile

  4. Set the desired quantity.

  5. Click anywhere in the Buy or Sell column to enter the order

    The order will be sent to the exchange for an immediate fill.