Date/Time: Sun, 20 Sep 2020 20:55:04 +0000
Flatten command sent Market order with invalid price causing Rejection
|ADRTvent - Posts: 9 | Ending Date: 2020-09-27|
I am using the latest version of SC and today I used the "Flatten" function to exit a position in the E-Mini S&P500 December2020 futures contract (symbol ESZ20). Normally pushing the Flatten button sends a "Market" order which should exit any open positions and cancel any open orders in the chart. Today I received a rejection from the clearing firm (Gain Capital) which makes no sense. They are saying that SC placed a market order but also attached a price which was outside the allowable bands, so they rejected the order (which should NEVER happen,since market orders should execute regardless of price). I received the following rejection message from Gain capital:
"""Order price is outside the bands ‘Bid of 339775.00 violates high band 339600.00 using Delta .00, C.Last equals 338400.00’ Exchange rejectcode =2179"""
I contacted Gain capital and they pointed the finger at Sierra Chart saying those price numbers are wrong or invalid and that the market order was sent with those prices.
My question is how does the "Flatten" function actually work? does it send a true exit at market order or does it send an actual price ?
please advise, I need to be sure that when I use the Flatten function I never get rejected and just get whatever the market price is at that time.
Sierra Chart Engineering - Posts: 89759 | Ending Date: 2021-04-05
We specifically looked at this and in the case of a market order there is no price sent to the OEC FIX server.
does it send a true exit at market orderYes absolutely. A market order is a market order. It does not have a price.
Sierra Chart Support - Engineering Level
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Date Time Of Last Edit: 2020-09-17 10:12:10
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