canAutoExecute on TWS API tick events.

C

Craig66

The documentation on this flag is as follows...

Specifies whether the price tick is available for automatic execution. Possible values are:

• 0 = not eligible for automatic execution
• 1 = eligible for automatic execution

By 'automatic execution' do they mean 'placing an order'? If so, what is the point of sending ticks which are not eligible?
 
When you place an order through the API you can set a flag that tells TWS to execute the order immediately. For stocks this seems to be available all the time. However, when you place option orders like this it won't work. The order will appear on the screen but you still have to click the "T" button to actually place the order. (I think it's an exchange policy.)

It's probably related to this behavior.
 
no I believe the thing you're talking about is Transmit, which is a seperate field from autoexecution.

My understanding of autoexecution is that it's a hold-over field from the pre-hybrid days.... on the NYSE they used to have two exeuction platforms, one that was manual through the floor specialists and one that was automatic through a computer system... the computer-based orders would only handle a certain volume, so orders that could be autoexecuted and hit on the automated system were tagged for the trader.

However in 2007 they upgraded their automated system and moved everything that way, so I think 99-100% of orders posted to the book should be able to be executed automatically (no human intervention required to hit the bid or take the offer).
 
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