Overly frequent order cancellations from FOK and FOK trading orders will be counted as abnormal trad

Do you often use FOK and FAK orders ?

  • yes

    Votes: 0 0.0%

  • no

    Votes: 4 100.0%
  • Total voters
    4
L

lx008

https://mp.weixin.qq.com/s/cZc90ilA1EtKCgyB9CnTCA

On July 4th, the Shanghai Futures Exchange announced its intention to revise the "Administration of Abnormal Trading Behaviors Rules of the Shanghai Futures Exchange" and is now publicly soliciting opinions. The main content of this revision is to cancel the exemption for abnormal trading behaviors caused by the FAK(Fill and kill) order and the Fill-or-Kill (FOK) order.
 
lx008 said:
https://mp.weixin.qq.com/s/cZc90ilA1EtKCgyB9CnTCA

On July 4th, the Shanghai Futures Exchange announced its intention to revise the "Administration of Abnormal Trading Behaviors Rules of the Shanghai Futures Exchange" and is now publicly soliciting opinions. The main content of this revision is to cancel the exemption for abnormal trading behaviors caused by the FAK(Fill and kill) order and the Fill-or-Kill (FOK) order.
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Sorry, but what's a Fill-and-kill order again? (When it comes to Chinese, I ain't sure I should roll my eyes. I really should though.)
 
schizo said:
Sorry, but what's a Fill-and-kill order again? (When it comes to Chinese, I ain't sure I should roll my eyes. I really should though.)
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It's an exotic order type that fills at a certain level and then cancels at another.

These people that you see FAK are not traders per se...They are peeps that are trying to bustle their positions for the long term, IMHO.
 
Overnight said:
It's an exotic order type that fills at a certain level and then cancels at another.

These people that you see FAK are not traders per se...They are peeps that are trying to bustle their positions for the long term, IMHO.
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Listen, bro. There is only FOK order. FAK orders, on the other hand, don't exist and cannot exist. And here's why.

"Fill-or-kill" (FOK) order, by definition, is supposed to execute your entire order at once or be cancelled. So if you send a buy order for 1000 shares of XYZ, it supposed to get filled within x-amount of time, otherwise it gets cancelled.

Now how will that be possible for "Fill-AND-kill" order? This is utterly contradictory. How can you fill your order AND kill your order at the same time?

Maybe it's just Chinglish semantics. I mean, I have seen "Made from China" a few times in the past. o_O
 
Overnight said:
I love you Schizy, but will you just shut up man?

  • Fill and Kill (FAK) Order - FAK orders are immediately executed against resting orders. Any quantity that remains unfilled is cancelled.
"https://www.cmegroup.com/tools-information/webhelp/autocert-ilink-2x/Content/Definitions.html"

I don't make shit up.

Happy Independence day? You learned something new.
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Helps a lot when you bomb 2500 contracts into E-Mini S&P Futures and have to slice/dice the aggregated volume. Otherwise, E Mini trading would be BORING....
 
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