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Electronic Trading

Order Types
Click to EnlargeCQG's electronic trading platform handles all of the major order types.

CQG also trades stop-limit, good 'til cancelled and a number of other types of orders. However, not all brokerages or exchanges take all types of orders so you need to check with your broker to see if a particular order is acceptable. In some cases, CQG's Gateway will maintain and trigger certain orders for you.

In version 7.5, CQG now offers Smart Orders which include Quantity Triggered Stops and Iceberg Orders.

 

 

 

 

 

 

Market - an order to buy or sell a given contract as soon as possible at the next available price.

Stop - an order to buy or sell a given contract when a designated price is reached. A buy stop order becomes a market order if the market trades at or above the stop price. A sell stop order becomes a market order if the market trades at or below the stop price.

Limit - an order that puts a limit on the price at which a trader will buy or sell. A buy limit order is placed below the current price; a sell limit order is placed above the current price.

Day Order - an order that can only be executed during the current session. At the close of the session the order is cancelled.

Stop Limit - An order that when the stop price is hit, becomes a limit order.

FAK - Fill and Kill is an order where the order is executed up to the quantity of contracts available at the order limit price and any amount unfilled is cancelled.

FOK - Fill or Kill is an order where all of the entire quantity has to be filled or the order is cancelled.

Trailing Stop - CQG’s Gateway will automatically move the stop order in the direction of your position.

Trailing Stop Limit - CQG’s Gateway will automatically move the stop limit order in the direction of your position.

Quantity Triggered Stop - The order is triggered when the bid/ask order size in the exchange’s order book falls below the QTS order's trigger level.

Iceberg Order - The order displays a predetermined portion of the entire order in the order book.

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