CME 48 Ticks

[jonmoron]

Hi,

One part of my strategy submits a limit (profit target order) 400 ticks away from the average fill price of the most recent entry order. I was just told by the CME that it will reject orders that are more than 48 ticks away from the current price (profit orders). Is this true? How does NT handle such submissions?

On Monday (on a LIVE account), a strategy I created submitted an order 400 ticks away from the current price. This makes me think that NT is "holding" these orders synthetically. Is this what is happening? Why weren't my orders on Monday not rejected?

thanks

[NinjaTrader_JoshP]

jonmoron,

This all depends on your brokerage. If your brokerage holds it or if it actually sends it to the exchange would determine if the CME rejects it or not. NT does not hold orders except unless explicitly specified here: http://www.ninjatrader.com/support/f...ead.php?t=5349

[jonmoron]

NT_Josh,

This would make sense. However we submitted orders with the Strategy 400 ticks away on Monday through our broker and then submitted orders today using the DOM 400 ticks away (using the ATM) and received REJECTs.

We are looking to move to a ZenFire based broker. Does the description of ZenFire on the list you provide say that any and all orders will be held on ZenFire servers? (even if the order would get rejected by the exchange for being 'too far')?

thanks!

jonmoron,

This all depends on your brokerage. If your brokerage holds it or if it actually sends it to the exchange would determine if the CME rejects it or not. NT does not hold orders except unless explicitly specified here: http://www.ninjatrader.com/support/f...ead.php?t=5349

[NinjaTrader_JoshP]

jonmoron,

Unfortunately we cannot speculate why your order was rejected in one case and not the other. NT passes your orders along to your brokerage who sends it to the exchange immediately. Whether or not it gets rejected is outside the hands of your NT platform. The platform just reports whatever the brokerage reports to you in terms of your orders.

For Zen, all orders go to the exchange. I do not think you are using a order type that is not supported by the exchange. Only if you were would it then reside on Zen servers instead of the exchange.

Ultimately if you are trying to do something 400 ticks away and are worried about the exchange rejecting you, you can deal with it within your strategy code directly. Keep track of where you want the order and as the traded price actually comes close to that range, then submit the order to the exchange.