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Please the enumerated description of how Globex handles various order types
... it's all there. I posted it no more than a hour or two ago.
Earl
----- Original Message -----
From: "AndrewN" <tradera@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, May 02, 2003 12:02 PM
Subject: RE: [RT] Stop Orders
> Earl,
>
> I had always understood that, for most brokers, Globex held STOP orders
on
> a separate computer and sent them in to the main matching engine as a
> simulated market order when elected. I recall that this was the subject of
> much discussion last year when comparing IB's method of holding stops on
its
> own computers versus those of Globex.
>
> I note from IB's web site on Globex orders that Globex has a simulated
stop,
> which would be what I 'm referring to. Has this changed?
>
> Andrew
> -----Original Message-----
> From: EarlA [mailto:earl.a@xxxxxxxxxx]
> Sent: Friday, May 02, 2003 1:36 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] Stop Orders
>
>
> To be clear, when referring to Stop Limit orders, two prices should be
> specified: Stop price which triggers the order and Limit price which
> specifies the limit for execution.
>
> If your order is 10.00/10.00 and price passes from 10.02 to 9.99 in a
> single
> trade, your order is triggered but will not be filled until price trades
> at
> 10.00 or higher. I would not hesitate to use a 10.00/10.00 for entry but
I
> would use either a Stop Limit with very wide spread or a straight Stop.
> The
> choice depends upon order handling at the exchange being traded.
>
> Earl
>
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