Commodity Spread Limit Orders question

[etemtezcan]

hi
in autospreaders , there are many configuration options, you can select which legs of the spread, autospreader should actively quote

then also options like
a. market order second leg,
b. limit order second leg upto xxx seconds, if not filled go market order etc.
for detailed info check docs under
https://www.tradingtechnologies.com/autospreader
cheers
etem

 

[bone]

Quote from Epic:

Does the autospreader hold the orders back until the prices line up and then submit a market order? Or does each leg sit on the exchange as a resting order and Autospreader keeps it outside of the b/a spread until the target price is achievable?

With the AutoSpreader, you have alot of flexibility. You can use the SmartQuote function to stay off ( away ) from the market until prices line up to your pre-defined levels. This is important for compliance with the trading exchange 'message-to-fill' ratio policies. You can also specify "slop", which is a cushion or window you define so that you are not messaging the system with every price change. Again, this is to avoid ECN sanctions from the exchange. Also, with the AutoSpreader, you can define 'pay-up tics'; you do not necessarily have to 'go to market'.

In terms of the exchange spreads, they will accomodate any type of order that a flat price instrument can use - including OCO, MOC, MOO, defined stop limits, etc.

I rarely use the AutoSpreader and AutoTrader functionality any more. I am, however, actively pursuing the ADL algo design lab feature for TT.