Staged Order Management
Modifying Staged Orders
You cannot make the following modifications to staged orders:
- Change the instrument
- Change the Buy/Sell direction
- Change child order quantities to exceed the staged order’s remaining available quantity
- Place a staged order (or related child order) on Hold
- Inquire the exchange for a status since staged orders are not placed on the exchange
Note: The user who created the staged order can send a request to the owner of the staged order to modify the price and quantity. Requests are sent automatically when the user attempts to change the price or quantity, and the owner can approve or deny the request. Changes can be requested for open and partially-filled staged orders.
Tip: Standard native and synthetic order modifications apply to related child orders. If you modify the quantity of a working child order, the remaining quantity of the staged order is adjusted accordingly. You cannot modify child order quantities to exceed the staged order's remaining available quantity..
Note: If you are using X_TRADER® 7.12.6 or lower, you need an X_TRADER Pro license in order to submit and manage staged orders. If you are using X_TRADER 7.12.7 or higher, you do not need an X_TRADER Pro license for this functionality.
Go To Market
The Go To Market button is disabled when the owner (or administrator) selects a staged order while in the Working (W) or Partially Filled (P) state, preventing the user from sending a staged order to the market for immediate execution. However, standard Go To Market functionality is available for related child orders.
Approving or rejecting a staged order cancel or change requestIf you are currently the owner of a staged order and you receive a cancel or change request from the originator, the order remains in the Pending Cancel or Pending Change state until you approve or reject the request. No child orders can be entered for the parent staged order in this state. Requests are sent automatically by a user who attempts to change the price or quantity of a staged order owned by another user. To accept or reject a cancel or change request:
- Right-click the staged order with TTStatus of Pending Cancel or Pending Delete flashing in the Order Book.
- Optionally, click Details in the context menu before approving or rejecting the request. This opens a confirmation box providing details of the proposed change.
- In the context menu, click Approve or Reject.
When you click Approve for a cancel request, the staged parent and child orders are canceled. When you click Reject, the staged order status from the Order Book will return to Working.When you click Approve for a change request, the quantity or price is updated as requested by the originator, and the new values are displayed in the Price and/or Order Qty fields.