Fill or Kill orders in Futures?

Discussion in 'Trading Software' started by UncleJ, Mar 3, 2007.

  1. UncleJ


    Are there any brokers or trading platforms that can provide a "Fill or Kill" limit order for futures trading?

    For example, if I place a limit order at price X trading the emini S&P during a very volitile time, I want to either be filled at that price or have the order canceled (ie: no slippage).

    Is this possible?

    Thank you.
  2. Sure - just need to use a stop limit with 0 ticks allowed for slippage. It depends on the trading platform, but with T4 ( ) it's very easy. I use this feature every trade actually and allow for 1 tick slippage and have never had problems.
  3. J - I may have misunderstood your question. If you are looking to buy above or sell below the current price, then my suggestion will work. If you are using a regular limit order, not quite sure since I don't trade like that.

    Sorry for any confusion.
  4. You didn't say which exchange. ECBOT supports IOC orders (Immediate or Cancel) natively while CME does not.
  5. Open ecry has a fill or kill feature in the dom. Never used it.
  6. UncleJ


    Thanks for everyones help.

    I am trading CME.

    I am interested in either stop or limit orders.

    My current broker does not have this feature and I have been slipped up to 10 ticks trading currency futuers during news time. It would be great to find a broker that will not slip me and will just cancel the order if the price deviates too much.
  7. J - like I said, if you are able to use buy stop limit or sell stop limit orders, then a platform like T4 thru Mirus or ProActive Futures will do exactly what you want.

    I like the T4 platform in this regard b/c it's very quick and easy to use the stop limit function. Each DOM is independent and you can set your stop limit acceptable slippage amount based on each DOM, not just a general setting. And it can be changed with a click or two.