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X_TRADER®

Canceling and Replacing an Order

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

In most cases, when you change an order in X_TRADER, you are canceling the order and replacing it with a new order. This function is called Cancel/Replace. It gives you a new position in the queue and (for most exchanges) assigns a new order number. The exception to Cancel/Replace is when you are decreasing the order quantity. If you decrease the order quantity, you can choose to click Change and resubmit the order with the same order number without losing your place in the queue.

Notes:

  • You can enable the Floating Order Entry on the context menu, and use the Floating Order Entry to cancel/replace an order.
  • If the second half of a cancel/replace order fails, it is no longer in the Order Book or the market. However, if any part of that order fills before the cancel/replace happens, you are responsible for the position incurred.
  • If an Order Deleted or Filled message appears in the Audit Trail after a delete or change request, the order was already deleted or filled by the exchange.

Tip: If you are simply decreasing the order quantity, use the Change button. This ensures the order does not lose its place in the queue.

To cancel and replace an order:

  1. Select the order to cancel/replace by clicking any cell in the appropriate row.
  2. Change the order information as necessary from the Order Modification Pane.

    Tip: Use the Up Tick and Down Tick buttons when you are adjusting the price by just one tick.

  3. Click the Cancel/Replace button.

The original order’s Status temporarily displays: Replaced.

The Audit Trail receives the first of two messages, reflecting the deleted order with a zero working quantity. The second message details the new order information and the new order number.