IB stop limit order for cme queued on the exchange?

Discussion in 'Order Execution' started by newguy05, May 8, 2010.

  1. Just continuing this discussion here, question below if anyone have any additional insight feel free to share.

    Is IB stop limit order for cme send and queued on the exchange at the time of submission or does it sit with IB until stoploss is triggered

    This is the wording i found on IB, it's confusing. I think it's saying stop limit orders are queued in the exchange right away because it said it's native and didnt say it's simulated.

  2. southall


    a simple stop limit globex order will live/queued on the exchange, even if its showing as blue in tws.

    but if your the stop limit order has other properties associated with it then it might not be.

    say it has some conditional logic on it.

    or if its part of an oca group and you have specified only one order in the group should be live on the exchange at anyone time.
  3. thanks southall, do you know if there is a way to tell if the submitted order is on the exchange or held by IB? is there a column or indicator that have this info, i cant find it in tws. The color status column doesnt really help in this case, since blue can mean both.
  4. J.P.


    Maybe a year ago or so, IB's pop-up over the Status field would state, "Submitted to and acknowledged by the exchange" for ES Stop Limit orders. They changed that wording and I've been wondering why ever since. (I've had no problems with my Stop Limit orders though.)
  5. If you look on your log, you will see if its at Globex. Look at 'configurations' if you don`t have automatic log activated.
    I`ve checked my log and a simple stop limit order is indeed on the Globex server.

    As an aside, I attach the stop with the limit price one tick away from the stop trigger price in case a fast moving market misses at the stop price. However, given Thursday`s action, I wonder if further out away might not be better. Didn`t have an order in that day but wondering whether others had problems that day.
  6. tstones


    I always put it a few points away.