Expiry types

MarketGrid supports a variety of expiry types for orders.

Immediate orders

The following order types are considered 'immediate' orders. These are never entered into an order book and therefore may not have an expiry type set.

Market orders
Fill or Kill (FOK) orders
Fill and Kill (FAK) orders

Non-immediate orders

For orders that are not one of the above immediate types, one of the following expiry types must be chosen.

Except for GTC, all types are selected by setting the appropriate bit in the OrderType field of the order. At most one of the bits may be set. If all of the expiry bits are unset, the order is a GTC order.

Good til Cancelled (GTC)

The order is never automatically expired. This is the default expiry type.

GTC orders may rest in the book until they are either filled, cancelled or amended, or the system withdraws them due to a rule change.

Good for Session (GFS)

The order is valid until the session of the InstrumentMarket changes, either at a scheduled time or through a manual action by the market operator.

Good til Date (GTD)

The order is valid until the end of the date nominated in the ExpiryDate field of the order.

The expiry date is a date in the time zone of the applicable Market and must be either the current date or in the future.

If the GTD bit is set and the ExpiryDate is not set, the current date is substituted, making it a GFD order.

Good for Day (GFD)

A special case of a GTD order where the expiry date is the current date.

Good til Time (GTT)

The order is valid until the time nominated in the ExpiryTime field of the order.

The expiry time is a time in the time zone of the applicable Market and must be between the current time and the end of the day. The time is given in HHMMSS format, not timestamp format. It is not possible to use both an expiry date and expiry time to create an order that expires at a specific time on a future date.