Support Board

Date/Time: Sun, 19 May 2024 03:47:57 +0000

Post From: Bracket order and OCO order between Lmax and Sierra

[2018-09-01 12:37:26] Link To Thread - Link To Post [Go To First Post]
gomifromparis - Posts: 244
This works well with the following limitations : * Since the orders are not considered as attached SL/TP by the LMAX server, it will consume twice the margin, when compared with the web SL/TP orders. * Since the SL/TP are not attached to the trade, you can have side effects. For instance, on a couple occasions, I closed manually my order very near to the SL or TP, and the server didn't have the time to close its own SL/TP before it was executed, and I was left with a naked position in the market. First time it happened it was very unpleasant since it was last trade of the day, I closed it manually and closed Sierra immediately. When I opened it again later in the afternoon I saw I had a naked (red of course) position that was running, it was opened the same time I closed manually my position. Apart from that it works well, however I would feel more confortable if they were on the LMAX server instead of the Sierra server (anything can happen :-)). Unfortunately the LMAX SL/TP is not available on FIX protocol, so it's unlikely to happen...