Queue holders (stacked orders) are additional orders placed in the queue at specified price levels away from the initial working order. Several parameters apply specifically to these stacked orders.
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Parameter |
Description |
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Min number of holders Max number of holders |
Sets the minimum and maximum number of orders to include in the queue. For example, a setting of 5 and 9 indicates that the minimum number of price levels (i.e. the minimum number of stacked orders) is 5 and the maximum number of price levels is 9. The system cancels the stacked orders when a leg is filled. Risk management margin requirements are calculated assuming that all of the orders have the potential to fill. Allowed values: 1-10 Default = 1 |
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# of levels |
Indicates how many price levels to skip between orders in the queue. For example, a setting of 3 indicates that an order be placed at every third price level. Allowed values: 1-5 Default = 1 |
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Order size restore threshold |
Indicates how far the market should run before maximizing size of a recently placed order that is now part of the group of stacked orders. The size of the working order is based on the currently available size in the monitored leg and the size of the orders in the group of stacked orders at the maximum order size. This setting overrides that system behavior in order to cut down on messaging. For example, a setting of 3 tells the system to update the order quantity in the queue only when the market moves 3 price levels. Default = 0 The value for this parameter must be less than the smallest number in the Number of holders field. So, if Number of holders = 5-9, then Order size restore threshold ≤4. |