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X_TRADER® Documentation

Market On Auction (MOA)

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A Market On Auction (MOA) order sends Market orders for contracts in an auction state. This type of order is only valid for contracts in an auction state, and can only be sent during an auction. When the auction expires, the order is deleted from the exchange Order Book and is no longer working on the exchange.

Note: The Synthetic SE does not support orders with the On Auction order restriction; these orders will be rejected.

To place a Market On Auction order from the Market Window...

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

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

    This disables the main Price field.

  3. Select On Auction in the Time-in-Force list.

  4. Specify the order quantity.
  5. 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

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