Submitting a stop limit order

Client → Server

• Sends a New Order Single Stop Limit <D> message with:
  • OrdType <40> set to 4 = Stop Limit
  • StopPx <99> value that is:
    • less than or equal to Price <44> on Side <54> = 1 (Buy), or
    • greater than or equal to Price <44> on Side <54> = 2 (Sell)

Does Gemini accept the order?

1. Yes: Order is accepted for initial processing

   • Server → Client: Sends an Execution Report <8> for a new order with:
     • ExecType <150> set to 0 = New
     • OrdStatus <39> set to 0 = New
     • StopPx <99> set to the same StopPx value provided on entry

   Has a trade occurred that would trigger your stop order?

   • Yes: The stop order triggers
     • Server → Client: Sends an Execution Report <8> message with the child limit order details
   • No: The stop order remains hidden and resting until triggered by a qualifying trade, or until cancelled

   Is the limit order marketable?

   • Yes: The server executes one or more initial fills
     • Server → Client: Sends an Execution Report <8> for each fill or partial fill
     • Does the order have remaining quantity?
       • Yes: The server puts the remaining quantity on the order book
       • No: The server closes the order
   • No: The server puts the entire quantity of the order on the book

2. No: Order is rejected

   • Server → Client: Sends an Execution Report <8> indicating the order was rejected with:
     • ExecType <150> set to 8 = Rejected
     • OrdStatus <39> set to 8 = Rejected