| OrdType | Execution on strategy subaccounts and broker accounts | Execution on virtual accounts |
|---|---|---|
| Market | Sent directly to broker | Executed by the next tick price |
| Limit | Sent directly to broker | Executed by the limit price |
| Stop Market | ||
| Market If Touched* | Triggering checked against the next tick price internally. Once triggered, is converted a market order and sent to the broker | Triggering checked against the next tick price. Once triggered, is executed by the tick price. |
| Stop Limit | Triggering checked against the next tick price internally. Once triggered, is converted to a limit order and sent to the broker | Triggering checked against the next tick price. Once triggered, converts to the limit order. |
** — Market if Touched behaves like a stop order, but the triggering conditions are those of a limit order.*
There are 3 fields responsible for identification of an order:
When submitting an order, it can be linked to other orders. There are two link types: One-Triggers-Other and One-Cancels-Other. The reference to the order is by ClOrdId.
There are two options:
If an order is placed as suspended, it will not be sent for execution or triggered (for limit and stop orders) until activated. The order is activated: