How do TT Bracket Orders behave if you get a partial fill on the entry order?

Futures Trading Platforms TT® Platform from Trading Technologies
1

How does the TT Bracket behaves if you get a partial fill on the entry order? Are the OCO orders also submitted partial? Like if you have a 2 contract order and it gets only filled 1 contract are the OCO submitted with 1 contract? Thx

2

Hi @dirk,

Thanks for your question and welcome to the community forum!

We’ve taken a look into your question regarding TT bracket orders and partial fills, there is quite a bit of information that needs to be taken into consideration and thanks to TT’s help guide, they make it quite easy to breakdown.

First off, we can determine that when the original Limit or Stop order is filled, the “child” OCO order is automatically submitted. The OCO is set with a profit target offset and a stop loss offset from the price the trader places the original order.

That being said, for each partial / full fill of the TT Bracket Limit order, a TT OCO order will be launched. The TT Bracket and TT OCO orders allow you to potentially lock in profits with a favorable move or prevent a downside loss without having to constantly monitor the position.

To answer the second half of your question, I would suggest reading the following example for how TT Bracket orders behave on a partial fill.

Bracket example #1

This orders uses a 10-lot order as an example:

A 10-lot TT Bracket order is submitted as a 10-lot Limit bid. If it gets partially filled for 7-lots, the TT Bracket order submits an OCO, which submits a child 7-lot Limit order at the specified profit target price and a 7-lot Stop Limit or Stop Market order at the protective stop-loss price. If the 7-lot OCO child Limit order is partially filled for 3-lots, then the OCO child Stop order is discounted by 3-lots. However, if the OCO Stop is triggered, the OCO Limit order will be canceled.

Note : If you change the quantity of one of the TT OCO child orders, it will not automatically change the quantity of the other order.

Here is a second example for you as well to clarify this further:

Bracket example #2

In this example, a 50-lot bid is submitted as a TT Bracket order. It gets filled for 2 lots and submits a child OCO order for the 2-lot entry order fill. The OCO order then submits a child 2-lot Limit order at a profit target price, and a child 2-lot protective Stop order.

The 2-lot OCO orders continue to work in the market until either the OCO Limit order is filled or OCO Stop Limit order is triggered. A fill in the OCO Limit order discounts the quantity in the Stop Limit order. However, if the 2-lot OCO Stop Limit order is triggered first, it submits another Limit order as a protective Stop and the 2-lot OCO Limit (profit) order is canceled.

image
image.png1504×618 228 KB

I hope you find the following text and examples helpful. There are so many parameters that can be configured for TT bracket orders, there are quite a few different combinations that can be used, especially when it comes to partial fills.

Let us know if you have any further questions!
Thanks,
Jake
Optimus Futures Support :optimus_logo_no_backroug:

3

Thanks Jake,
this explains it and it behaves like I would expect…:slight_smile:

1 Like
4

@dirk

You’re welcome!

Let us know if you have any other questions for us.

Thanks,
Jake
Optimus Futures Support :optimus_logo_no_backroug: