Support Board
Date/Time: Sat, 18 Jan 2025 12:57:44 +0000
[User Discussion] - Documentation update: Stop Orders on the CME
View Count: 1119
| [2018-02-24 18:36:04] |
| tesseract353 - Posts: 66 |
|
I think this documentation should be re-written. It doesn't seem accurate in its current state. Please see: https://www.cmegroup.com/confluence/display/EPICSANDBOX/Order+Types+for+Futures+and+Options and https://www.cmegroup.com/confluence/display/EPICSANDBOX/iLink+Order+Types vs Order Types: Stop Orders on the CME A Stop order with a single price submitted from Sierra Chart and placed through to one of the CME (Chicago Mercantile Exchange) exchanges (CME, CBOT, COMEX, NYMEX), will be converted by the CME to a Stop-Limit order. The Limit price will be set to a price, calculated by the CME, which prevents it from filling if the market moves too far away from the Stop price. The limit price will be significantly far away from the Stop price.
When using some Trading services, like Trading Technologies, you will see the order type change from Stop to Stop-Limit after it has been submitted and accepted by the exchange. You also will see the Price2 order price for the order, set to the actual limit price set by the exchange. Understand that this behavior is all normal and expected and is a safety feature implemented by the CME to maintain an orderly market. |
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