Cross Type

, ,
1

Imported from previous forum

2

Hi All,

I have a Question on CrossType this time around…
I need a bit understanding on how the CrossType with Values 3 and 4 get executed.
549=3 states "Cross trade which is partially executed with the unfilled portions remaining active. One side of the cross is fully executed but the unfilled portion remains active. “
Qn: Is the unfilled portion executed at Market Price or we wait for another (Cross) Client?
549=4
States” A.Cross trade is executed with existing orders with the same price
B.In the case other orders exist with the same price, the quantity of the Cross is executed against the existing orders and quotes
C.the remainder of the cross is executed against the other side of the cross.The two sides potentially have different quantities.
Qn. I want to know what does ‘C’ implies.

Regards
Sridhar

3

Qn: Is the unfilled portion executed at Market Price or we wait for another (Cross) Client?
A: Not sure, maybe OrdType determines that. CrossType only says that one side is gone and the other is not, i.e. can match against other orders and quotes that already exist or are yet to come

Qn. I want to know what does ‘C’ implies.
A: Cross order interacts with reguklar orders and quotes first. If these are insufficient to match the entire cross, the minimum of the remainder of the two sides of the cross can be matched against each other.

Hi All,

I have a Question on CrossType this time around… I need a bit
understanding on how the CrossType with Values 3 and 4 get executed.
549=3 states “Cross trade which is partially executed with the
unfilled portions remaining active. One side of the cross is fully
executed but the unfilled portion remains active. " Qn: Is the
unfilled portion executed at Market Price or we wait for another
(Cross) Client? 549=4 States” A.Cross trade is executed with existing
orders with the same price
B.In the case other orders exist with the same price, the quantity of
the Cross is executed against the existing orders and quotes
C.the remainder of the cross is executed against the other side of the
cross.The two sides potentially have different quantities. Qn. I want
to know what does ‘C’ implies.

Regards Sridhar