Welcome Guest, you are in: Login
CTS Futures
A Stop Order is entered with the New Order Single (Tag 35=D) message. Following are the most relevant tags to build a Stop Order.

Tag 40=3OrdTypeSpecifier of Stop Order Type
Tag 99StopPxStop Price
Tag 48SecurityIDMarket for which the order is sent
Tag 55SymbolContract for which the order is sent
Tag 207SecurityExchangeExchange for which the order is sent
Tag 167SecurityTypeSecurity Type (e.g. Futures) of this specific market

Sample

In this example, the stop order is triggered when a trade occurs at the (StopPx - Tag 99) price of 149975 or higher. Then, the order is changed into a Market order.

Please note that the exchanges generally place limits on market orders which effectively makes Market orders a limit order with a 10 or 20 tick price limit on it. Hence, you are not guaranteed a fill with a market order in a market that is moving very fast. Please check with the exchange you are trading to determine what their current limits are.

Stop Order
>> 2/21/2013 5:34:45 PM [FIXNEWORDER] 34=104|49=T4Example|56=T4|50=TraderName|52=20130221-23:34:45.539|1=Account1|11=fn-634970648855398608|48=CME_20130300_ESH3|55=ES|207=CME_Eq|54=1|38=1|40=3|99=149975|59=0|167=FUT|21=1|60=20130221-23:34:45.539|204=0|
[FIXNEWORDER]
[MsgSeqNum] 34 = 104
[SenderCompID] 49 = T4Example
[TargetCompID] 56 = T4
[SenderSubID] 50 = TraderName
[SendingTime] 52 = 20130221-23:34:45.539
[Account] 1 = Account1
[ClOrdID] 11 = fn-634970648855398608
[SecurityID] 48 = CME_20130300_ESH3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[Side] 54 = 1 (BUY)
[OrderQty] 38 = 1
[OrdType] 40 = 3 (STOP)
[StopPx] 99 = 149975
[TimeInForce] 59 = 0 (DAY)
[SecurityType] 167 = FUT (FUTURE)
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[TransactTime] 60 = 20130221-23:34:45.539
[CustomerOrFirm] 204 = 0 (CUSTOMER)

<< 2/21/2013 5:34:45 PM  [fixexecutionreport] 34=150|49=T4|56=T4Example|50=T4FIX|52=20130221-23:34:45.586|143=US,IL|1=Account1|11=fn-634970648855398608|17=48010.6417471763_ESH3.6349706488670600006.1.AFAF4C13|150=0|37=AFAF4C13-937A-4F96-B903-2507BBC70B6E|39=0|48=CME_20130300_ESH3|55=ES|207=CME_Eq|200=201303|59=0|107=E-mini S&P 500 Mar13|54=1|167=FUT|38=1|40=3|99=149975|60=20130221-23:34:46.706|21=1|204=0|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 150
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130221-23:34:45.586
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = fn-634970648855398608
[ExecID] 17 = 48010.6417471763_ESH3.6349706488670600006.1.AFAF4C13
[ExecType] 150 = 0 (NEW)
[OrderID] 37 = AFAF4C13-937A-4F96-B903-2507BBC70B6E
[OrdStatus] 39 = 0 (NEW)
[SecurityID] 48 = CME_20130300_ESH3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[MaturityMonthYear] 200 = 201303
[TimeInForce] 59 = 0 (DAY)
[SecurityDesc] 107 = E-mini S&P 500 Mar13
[Side] 54 = 1 (BUY)
[SecurityType] 167 = FUT (FUTURE)
[OrderQty] 38 = 1
[OrdType] 40 = 3 (STOP)
[StopPx] 99 = 149975
[TransactTime] 60 = 20130221-23:34:46.706
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)

Further details on the tags used for this order type are described in the dictionary of the New Order Single message.

Trade how you want, where you want

support@ctsfutures.com (312) 939 0164

111 W. Jackson Blvd., Suite 1408, Chicago, IL 60604

© 2009-2017 Cunningham Trading Systems LLC All rights reserved.