synthetic order states, and originations

[valhallafutures]

greetings,

we’re in need a bit of clarification..

would much appreciate if these answers
could be confirmed via
[email protected] and/or
[email protected]

if appropriate, as exact answers are critical
to some current programming issues at hand...

First: as a synthetic order, need to know at what
exact point does an MIT order actually leave NT
local user and go to CQG exchange-side order plant.
Apparently, there are two states for this order.
Some of the NT website documentation seems ambiguous,
imho, where the word ‘local’ usually means User-Client
side desktop. And this terminology seems confirmed by
the text’s reminder/warning that Ninja local user must
remain connected to the internet at the desktop. If the
below quote from the website is true, an MIT order
does NOT leave the desktop until the quotes reach
the trigger price.

But this has NEVER been my understanding. My understanding
has always been that MIT’s go to the same place at STP’s immediately,
which is either a broker’s exchange-side server, or some other similar
service, like CQG order plant, which is exchange-side and very
near the exchange server itself. See NT website language:
“

• Trigger Pending: When in a Trigger Pending state, the MIT order is locally held by NinjaTrader. At this stage, it is imperative that NinjaTrader remain connected to the data feed to allow the platform to monitor the price of the market. Once the user defined price level is achieved, NinjaTrader will submit the market order.
  • Accepted: If the MIT order is in the Accepted state, this indicates the order is working on the connection technology servers and NinjaTrader can be disconnected from the data feed without risk of deactivating the order.
  this comes from: [ https://ninjatrader.com/blog/hide-or...ed-orders-mit/ ]
  
  I will have several follow up questions once this is ascertained,
  and thxs in advance for the courtesy of your replies.

Will

[NinjaTrader_ChrisL]

Hello valhallafutures, thanks for your post.

The MIT order is just like the StopLimit/StopMarket order except the buy/sell actions are reversed. E.g. buy MIT can be placed below the market whereas Buy stop limits/markets can be placed above the market.

Whether your MIT rests on your PC on your broker's servers depends on if your broker supports the MIT order type. So if you submit an MIT and it sits at the Trigger Pending state, it means the order is resting on your PC because your broker does not support such an order. If it rests in the Accepted state, your broker does support the order type and it rests at your broker's servers instead.

The moment the MIT order is sent is when a tick comes in at the specified price level of the MIT.

Please let me know if I can assist any further.

[valhallafutures]

ok then, let's get specific... and please spare the definitions of MIT.'s, please and thanks.. for NT brokerage, does the order reside local, or go directly to NT broker services...

and do you have a list of brokers with do and don't accept status listed... we don't have accounts at all these brokers, but need to be able to ID them in advance... please and thxs...
AMP Global and Interactive Brokers LLC would be a good start.. thxs..

[NinjaTrader_ChrisL]

Hello valhallafutures, thanks for your reply.

I found a list of brokers in our knowledge base on their MIT handling. The brokers that have "Simulated" simulate the MIT on the local PC:

CQG	Simulated
FXCM	Simulated
Interactive Brokers	Native
MBT	Simulated
Rithmic	Native
TDA	Simulated

[valhallafutures]

great .....very helpful... but you forgot to include Ninja Brokerage....

[NinjaTrader_ChrisL]

Hello valhallafutures,

The NinjaTrader Brokerage connection falls under the CQG category.

[valhallafutures]

ok then.. just to clarify... all these brokers marked Simulated will cause the desktop NT application to hold the MIT's until
they are triggered by watching the quote stream into the PC.

and just to be sure, this same list also applies for all StpLMT order handling...?

Or does the list change in any way for that ....?

[NinjaTrader_ChrisL]

Hello valhallafutures, thanks for your reply.

That is correct. If its market Simulated, you will see in the platform the order sits in "Trigger Pending" meaning its resting on your local PC. The same idea goes for Stop and Stop limit orders. If you submit an order to the broker and it rests in TriggerPending, it is sitting on the local PC. I do not have a list of brokers available for stop orders specifically.

[martyn73]

In an earlier post above you wrote "I found a list of brokers in our knowledge base on their MIT handling. The brokers that have "Simulated" simulate the MIT on the local PC:". My question is, if an MIT order is held local, what is the color of the order? The default MIT color or yellow?

[NinjaTrader_ChrisL]

Hello martyn73, thanks for writing in.

If the order is not supported by the broker and is resting on the PC side, the order color will be Yellow to signal the order is in the “Trigger Pending” state. The state definitions can be found here:

https://ninjatrader.com/support/help...efinitions.htm

Please let me know if you have any further questions.