OrderState.Accepted vs OrderState.Working

[kjackson]

I have a strategy that I use on several exchanges, such as Nybot, Hong Kong Futures Exchange, and Eurex.

When my strategy submits stop order on the Nybot or HKE, the stop order goes from PendingSubmit, to Accepted.

However, on the Eurex, a stop order goes from PendingSubmit, to Accepted, to Working.

What is the cause of this? Why is this not the same on both exchanges? Is this expected? As well, is this broker-dependent? I'm using Interactive Brokers right now, if I change my broker, will this behavior change as well?

If I have a strategy that changes the stop order, what state should I be checking for, Accepted or Working? I'm concerned that if I check for both Accepted or Working, it might produce the wrong behavior depending on which exchange this is.

Thanks in advance,

Ken

[NinjaTrader_JoshP]

kjackson,

Are you sure the order is not in the process of being filled when it goes working?

[kjackson]

No, the order was not in the process of being filled. This is my log output:

12/23/2009 12:05:30 AM|1|32|Order='XXX' Name='Stop1' New State=PendingSubmit Instrument='FDAX 03-10' Action=BuyToCover Limit price=0 Stop price=5981 Quantity=1 Type=Stop Filled=0 Fill price=0 Error=NoError Native error=''

12/23/2009 12:05:31 AM|1|32|Order='XXX' Name='Stop1' New State=Accepted Instrument='FDAX 03-10' Action=BuyToCover Limit price=0 Stop price=5981 Quantity=1 Type=Stop Filled=0 Fill price=0 Error=NoError Native error=''

12/23/2009 12:05:31 AM|1|32|Order='XXX' Name='Stop1' New State=Working Instrument='FDAX 03-10' Action=BuyToCover Limit price=0 Stop price=5981 Quantity=1 Type=Stop Filled=0 Fill price=0 Error=NoError Native error=''

12/23/2009 12:16:02 AM|1|32|Order='XXXXXXXXXX' Name='Stop1' New State=Filled Instrument='FDAX 03-10' Action=BuyToCover Limit price=0 Stop price=5981 Quantity=1 Type=Stop Filled=1 Fill price=5981 Error=NoError Native error=''

[NinjaTrader_Austin]

Ken, for the most part, the states your orders go through depend on the exchange. Stop orders, for example, typically only make it to the accepted state, but from the log you posted it looks like stop orders make an additional stop at the working state for the Eurex exchange.

From the page that says where orders are held:
Interactive Brokers
Orders in a state "Accepted" or "Working" are at the exchange or on IB's servers in situations where the exchange does not have native support for an order type.
OCO (One Cancels Other) functionality is natively supported on their servers.