AlgoOrder  Volume-Triggered Cancel (VTC)

A VTC order is a type of GTC order.

When you place a VTC order, the system places and works an initial limit order, while the VTC application monitors the book looking for DOM volumes equal to or below the threshold (see parameters) at that price.

When the threshold is met, the order action is triggered.

The order action is either cancel or replace:

Cancel = cancel the initial order

Replace = cancel the initial order and place an order on the opposite side using the same price of the initial order. The order quantity may be changed for this order.

If the threshold is not met before the initial order is filled, the VTC order is cancelled.

If you modify the initial order before the threshold is met, the VTC parameters do not change.

To modify the price of a VTC order, you must cancel it and place a new order.

Installing, running, and stopping VTC

1.  Open CQG software, and log on to trade.

2.  From CQG’s website, download and run the installation program for VTC (AlgoOrder VTC.msi).

If you plan on using the source code in any way, make sure to install the application and the source (Custom Setup).

3.  Go to Start > All Programs > CQG > AlgoOrderVTC to register the type, so that it can be viewed in the software.

4.  In the CQG software, open a trading application. Note that the AlgoOrder type is now listed on the special orders menu.

The VTC application runs in the background of the CQG software. The VTC icon is visible in the system tray when it’s running.

Right-click that icon to open a menu of options, explained later in this topic, associated with VTC orders.

Use this menu to stop the VTC application. When you do so, the initial order remains active, but the VTC portion of the order is cancelled.

VTC parameters

Monitoring and cancelling VTC orders

Right-click the VTC icon in the system tray, then click Monitor to open the Monitor window. The window lists working orders with associated data:

•      Algo Order ID, format COVTCxxxxyyyy, where:

xxxx = Serial number of the algorithmic order placed through the application's current session. This value is reset after restarting the application.

yyyy =  Serial number of the leg for the xxxx algorithmic order. This value is reset for each algorithmic order.

Z = multi-digit serial number of orders placed through the given instance of the application.

•      Status

•      FCM Account ID

•      Account Name

•      Instrument Name

•      Side

•      Type

•      Limit Price (initial order)

•      Stop Price

•      Total Quantity

•      Filled Quantity

•      Threshold

•      Order Action

•      Use base quantity

•      Replace Quantity

To cancel one or some of the working orders, select them and then click the Cancel Checked Orders button. You can also right-click the order.

To cancel all working orders, click the Cancel All Orders button. You can also right-click the order.

To obtain log files, right-click the VTC icon in the system tray, then click Show Logs. The local folder that contains logs is opened: C:\Users\<name>\AppData\Local\CQG\AlgoOrder_VTC\Logs

VTC Profile Manager

Set parameter values using Profile Manager. Right-click the VTC icon in the system tray, then click Profile Manager.

VTC Configuration Manager

Change naming, tooltip, and log settings using Configuration Manager. Right-click the VTC icon in the system tray, then click Configuration Manager.