Self-trade prevention
Controls for preventing self trades by the same account, user, or firm.
MarketGrid supports self-trade prevention (STP) controls for preventing self trades (also known as cross trades) from taking place. Self trades may be prevented at different levels of the actor hierarchy.
Enabling STP
STP is enabled at the Market level by configuring the SelfTradePreventLevel and SelfTradePreventType fields.
SelfTradePreventLevel
Controls at what level of the actor hierarchy a trade will be considered a self trade. The possible values are:
None: no self-trade checking is performed.Account: both orders must have the same beneficiary Account to be considered a self trade.User: both orders must belong to the same User.Firm: both orders must belong to the same Firm.
SelfTradePreventType
Specifies the action that is taken during the matching algorithm when a self trade is about to occur. The incoming and resting orders are the two orders that would be considered to produce a self trade, according to the configured SelfTradePreventLevel (see above).
None: no action is taken.
WithdrawNew: the incoming order is withdrawn and matching is concluded.WithdrawResting: the resting order is withdrawn and matching continues.WithdrawBoth: both the incoming and resting order are withdrawn and matching is concluded.