Limit (LMT)

Order that is triggered when the specified limit price is hit.

Market (MKT)

Order at the best available current price.

On Close (OC)

Order filled near the market close. If the order cannot be filled at the close, then it is cancelled. For a limit-on-close order, the order is executed only if the price is better than the limit price.

On Open (OO)

Order placed at the market open price. If the order cannot be filled at the open, then it is cancelled. For a limit-on-open order, the market open price must meet the limit condition.

Stop (STP)

Market order that is triggered when the stop price is hit.

Stop Limit (STL)

Limit order that is triggered when the stop price is hit.

Order Type

Description

Bracket (BRKT)

A multiple leg Order-Places-Order (OPO). The first leg is an order with any regular order type (main leg). Once that leg is filled or partially filled, either one or two additional orders are placed.

For example, filling a buy order can trigger either a sell OCO (a profit target order and a stop loss order), a profit target order, or a stop loss order. In the case of an OCO, if one of those orders is filled, then the other order is cancelled.

DOM-Triggered Stop (DTS)

Any type of stop order that behaves like a stop order, but is not triggered until the bid/ask quantity is equal to or less than the order’s trigger quantity (DOM threshold).

DOM-Triggered Stop Limit (DTSL) orders are also available.

Funari

Order that requires any unfilled order quantity be executed as a market order at either the morning close or afternoon close (market-on-close).

Iceberg Limit (ICBRG)

Limit DAY or GTC orders that have both a total quantity and a display quantity that is shown publicly on the order book.

Iceberg Strategies are also available.

Market If Touched

Limit order that becomes a market order once the limit price is reached or passed through.

Market Limit (MLM)

SFE-specific. Order that is filled according to the three best prices.

Order-Cancels-Order (OCO)

A multi-part order. If one part of the order is executed, then all other parts are cancelled.

OCO Strategies are also available.

Trailing Limit (TLMT)

Order that tracks the market and automatically adjusts its price level position in the exchange’s order book. For a buy order, as the best bid/offer/trade (depending on your settings) moves up, your order moves up with it based on the trailing offset. When the best bid/trade/offer trade moves down, your order holds. When the best bid/offer/trade matches your order price, the order executes.

Trailing Stop (TSTP) and Trailing Stop Limit (TSLT) are also available.

TSTP = Order that adjusts its trigger price in concert with the direction of the market on a tick-by-tick basis, initially trailing the market with the same distance to the market price when the order is first placed. The trigger price of a trailing sell stop order automatically steps higher with the market for each up tick, but does not step lower.

TSTL = Order that adjusts its trigger price in concert with the direction of the market on a tick-by-tick basis, initially trailing the market with the same distance to the market price when the order is first placed. The trigger price of a trailing sell stop order automatically steps higher with the market for each up tick, but does not step lower. 

DAY

Order cancelled at the end of the trading session if not filled.

DAY GTT

Order that remains open until the time specified by the trader.

Fill and Kill (FAK)

Order that requires any remaining quantity after a partial fill be cancelled.

Fill or Kill (FOK)

Order that requires the entire quantity be executed immediately or the order is cancelled.

Good-till-Cancelled (GTC)

Order that remains open until canceled by the trader.

Good-till-Date (GTD)

Order that remains open until the date specified by the trader.

Good-till-Time (GTT)

Order that remains open until a specified time. At that time, any unfilled lots are cancelled.