OCO Handling

[aaron1281]

NinjaTrader supports multiple different connectivity providers (brokers, exchange gateways, and data feeds) that each have different levels of support for advanced order handling features such as OCO orders. An OCO order is simply a group of linked orders where if one is either filled or cancelled, all other orders that belong to it's OCO group are ancelled. If your connectivity provider does not support OCO orders natively,
NinjaTrader will simulate them on your local PC.


Do you have a summary of the connectivity providers offerings?

[NinjaTrader_Bertrand]

aaron, for all providers / technologies supported, please check into the first section of this link :

http://www.ninjatrader.com/support/helpGuides/nt7/historical_data.htm

For the OCO handling of each provider - http://www.ninjatrader.com/support/f...ead.php?t=5349

[YanCanCook]

I have a more specifc question regarding OCO orders. From what I read on the Zenfire, and some other vendors, install pages on the NT website, this is my understanding of how OCO handling is done. Please verify that this is indeed how OCO works.

http://www.ninjatrader.com/ConnectionGuides/Zen-Fire-Connection-Guide.php

Also included are PFGBEST, MB Trading, CQG, Trading Tech and Vision.

"Critical: OCO (one cancels other) orders for Zen-Fire are locally simulated on your PC. This means that NinjaTrader must be connected to your broker in order for the OCO capability to function. If you are disconnected and one of the OCO orders are filled, the other WILL NOT be cancelled"


1. OCO is placed via ATM or manually
2. OCO resides locally on PC
3. If PC / NT/ internet goes down at this stage, the OCO goes away and no trade is ever placed. No cancel is ever required.
4. If entry is filled and bracketing occurs with limit and stop orders, these reside on server side.
5. If PC / NT/ internet goes down at this stage, separate limit and stop orders still remain on the server side (e.g. Zenfire).
6. If and when one of these orders is executed, the other is not cancelled. I need to cancel the opposite order in some other way. But I still remain protected for some time period until I take action to cancel the opposite order.
7. If my PC / NT / internet recovers, will my OCO order be "restored" at the current state. This means, if one side has been executed, will the opposite side be auto canceled by NT upon PC/NT/internet recovery or does the order remain "floating" on server side as non OCO order which I have to manually cancel?
8. If PC/NT/internet go down before initial entry of bracketed OCO order, will OCO be restored as is upon PC/NT/internet recovery or will I have to renter via ATM/manually? I am asking if "local" OCO order means that NT can recover a non-executed OCO order on the local side.

[NinjaTrader_Bertrand]

YanCanCook, this is mainly correct, you added the proper critical item here - the connection has to be present for NT to manage any OCO logic, as the order would be working on the exchange / brokers server but there would be no OCO management if NT is not connected and doing this part.

[YanCanCook]

When you say, I am mainly correct, please be more specific. I have asked two questions at the end that you do not address regarding NT recovery during this scenario

[NinjaTrader_Bertrand]

NT has to be connected live to manage this part YanCanCook.

[YanCanCook]

I still don't understand. Are you stating that even if PC/NT/internet recover, the management of the OCO order will not be picked up where it left off? Will a non-executed OCO order that have never been executed be resumed? Please be very precise on this at it translates to $$$ and risk for me.

[NinjaTrader_Bertrand]

Sorry, I don't follow where you see an issue: if you disconnect / reconnect and no order executed while this happened >> there's nothing for NT to manage, orders would show resting / in their states as expected.

If an order executed in the meantime > the other order could not be cancelled by NT as it's not connected, thus you could run the risk of getting into an unwanted position.

Best would be calling your brokers tradedesk then to manage any trades / orders.