Market Order with FOK failing on CME

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1

Imported from previous forum

2

Hi, I am sending a test order to CME cert. environment. (Market with FOK as time in force). But I am getting this error. Can anybody please help me understand this error? Market and FOK is a valid combination I believe…

"The combination of price type, price type qualifier, expiry type and trading period are not valid for the market “CBT-GFU”. "

The other parameters:
15 Currency USD
21 HandlInst 1 AUTOMATED_EXECUTION_ORDER_PRIVATE
22 SecurityIDSource 8 EXCHANGE_SYMBOL
38 OrderQty 10000
40 OrdType 1 MARKET
48 SecurityID ZT
54 Side 1 BUY
55 Symbol ZT
59 TimeInForce 4 FILL_OR_KILL
60 TransactTime 20121112-16:45:50.468
167 SecurityType FUT FUTURE
200 MaturityMonthYear 201212
207 SecurityExchange XCBT

Thanks.

3

We support only synthetic FOK – please contact CME Customer Support for Electronic Trading (CSET) at cset@cmegroup.com

Hi, I am sending a test order to CME cert. environment. (Market with FOK as time in force). But I am getting this error. Can anybody please help me understand this error? Market and FOK is a valid combination I believe…

"The combination of price type, price type qualifier, expiry type and trading period are not valid for the market “CBT-GFU”. "

The other parameters:
15 Currency USD
21 HandlInst 1 AUTOMATED_EXECUTION_ORDER_PRIVATE
22 SecurityIDSource 8 EXCHANGE_SYMBOL
38 OrderQty 10000
40 OrdType 1 MARKET
48 SecurityID ZT
54 Side 1 BUY
55 Symbol ZT
59 TimeInForce 4 FILL_OR_KILL
60 TransactTime 20121112-16:45:50.468
167 SecurityType FUT FUTURE
200 MaturityMonthYear 201212
207 SecurityExchange XCBT

Thanks.

4

Thanks Aditya. Emailed cset. Let’s see what they suggest.

We support only synthetic FOK – please contact CME Customer Support for Electronic Trading (CSET) at cset@cmegroup.com

Hi, I am sending a test order to CME cert. environment. (Market with FOK as time in force). But I am getting this error. Can anybody please help me understand this error? Market and FOK is a valid combination I believe…

"The combination of price type, price type qualifier, expiry type and trading period are not valid for the market “CBT-GFU”. "

The other parameters:
15 Currency USD
21 HandlInst 1 AUTOMATED_EXECUTION_ORDER_PRIVATE
22 SecurityIDSource 8 EXCHANGE_SYMBOL
38 OrderQty 10000
40 OrdType 1 MARKET
48 SecurityID ZT
54 Side 1 BUY
55 Symbol ZT
59 TimeInForce 4 FILL_OR_KILL
60 TransactTime 20121112-16:45:50.468
167 SecurityType FUT FUTURE
200 MaturityMonthYear 201212
207 SecurityExchange XCBT

Thanks.

5

[ original email was from Jasper Grootaers - jumpergrog@gmail.com ]
Aditya, the error to me looks like a Fidessa reject and not an exchange reject. It would have been rejected by the exchange, but this order is failing the Fidessa validation rules. Please get Fidessa (or your own fidessa support) to check the config for this market

Thanks Aditya. Emailed cset. Let’s see what they suggest.

We support only synthetic FOK – please contact CME Customer Support for Electronic Trading (CSET) at cset@cmegroup.com

Hi, I am sending a test order to CME cert. environment. (Market with FOK as time in force). But I am getting this error. Can anybody please help me understand this error? Market and FOK is a valid combination I believe…

"The combination of price type, price type qualifier, expiry type and trading period are not valid for the market “CBT-GFU”. "

The other parameters:
15 Currency USD
21 HandlInst 1 AUTOMATED_EXECUTION_ORDER_PRIVATE
22 SecurityIDSource 8 EXCHANGE_SYMBOL
38 OrderQty 10000
40 OrdType 1 MARKET
48 SecurityID ZT
54 Side 1 BUY
55 Symbol ZT
59 TimeInForce 4 FILL_OR_KILL
60 TransactTime 20121112-16:45:50.468
167 SecurityType FUT FUTURE
200 MaturityMonthYear 201212
207 SecurityExchange XCBT

Thanks.

6

Yes you are probably right – I did not look too closely at the error text – good catch.

Aditya, the error to me looks like a Fidessa reject and not an exchange reject. It would have been rejected by the exchange, but this order is failing the Fidessa validation rules. Please get Fidessa (or your own fidessa support) to check the config for this market

Thanks Aditya. Emailed cset. Let’s see what they suggest.

We support only synthetic FOK – please contact CME Customer Support for Electronic Trading (CSET) at cset@cmegroup.com

Hi, I am sending a test order to CME cert. environment. (Market with FOK as time in force). But I am getting this error. Can anybody please help me understand this error? Market and FOK is a valid combination I believe…

"The combination of price type, price type qualifier, expiry type and trading period are not valid for the market “CBT-GFU”. "

The other parameters:
15 Currency USD
21 HandlInst 1 AUTOMATED_EXECUTION_ORDER_PRIVATE
22 SecurityIDSource 8 EXCHANGE_SYMBOL
38 OrderQty 10000
40 OrdType 1 MARKET
48 SecurityID ZT
54 Side 1 BUY
55 Symbol ZT
59 TimeInForce 4 FILL_OR_KILL
60 TransactTime 20121112-16:45:50.468
167 SecurityType FUT FUTURE
200 MaturityMonthYear 201212
207 SecurityExchange XCBT

Thanks.

7

[ original email was from Jasper Grootaers - jumpergrog@gmail.com ]
Also note, that CME does not natively support @Market either. It will accept them, but will apply a limit price to the order whilst keeping the OrdType as “Market” on the message flow.

Yes you are probably right – I did not look too closely at the error text – good catch.

Aditya, the error to me looks like a Fidessa reject and not an exchange reject. It would have been rejected by the exchange, but this order is failing the Fidessa validation rules. Please get Fidessa (or your own fidessa support) to check the config for this market

Thanks Aditya. Emailed cset. Let’s see what they suggest.

We support only synthetic FOK – please contact CME Customer Support for Electronic Trading (CSET) at cset@cmegroup.com

Hi, I am sending a test order to CME cert. environment. (Market with FOK as time in force). But I am getting this error. Can anybody please help me understand this error? Market and FOK is a valid combination I believe…

"The combination of price type, price type qualifier, expiry type and trading period are not valid for the market “CBT-GFU”. "

The other parameters:
15 Currency USD
21 HandlInst 1 AUTOMATED_EXECUTION_ORDER_PRIVATE
22 SecurityIDSource 8 EXCHANGE_SYMBOL
38 OrderQty 10000
40 OrdType 1 MARKET
48 SecurityID ZT
54 Side 1 BUY
55 Symbol ZT
59 TimeInForce 4 FILL_OR_KILL
60 TransactTime 20121112-16:45:50.468
167 SecurityType FUT FUTURE
200 MaturityMonthYear 201212
207 SecurityExchange XCBT

Thanks.

8

Well the limit price is really the best market price and for market protect the limit price factors in the protection points. We are also thinking about fixing the order type in the message flow to show that it has rested as a limit since that is indeed the case.

Also note, that CME does not natively support @Market either. It will accept them, but will apply a limit price to the order whilst keeping the OrdType as “Market” on the message flow.

Yes you are probably right – I did not look too closely at the error text – good catch.

Aditya, the error to me looks like a Fidessa reject and not an exchange reject. It would have been rejected by the exchange, but this order is failing the Fidessa validation rules. Please get Fidessa (or your own fidessa support) to check the config for this market

Thanks Aditya. Emailed cset. Let’s see what they suggest.

We support only synthetic FOK – please contact CME Customer Support for Electronic Trading (CSET) at cset@cmegroup.com

Hi, I am sending a test order to CME cert. environment. (Market with FOK as time in force). But I am getting this error. Can anybody please help me understand this error? Market and FOK is a valid combination I believe…

"The combination of price type, price type qualifier, expiry type and trading period are not valid for the market “CBT-GFU”. "

The other parameters:
15 Currency USD
21 HandlInst 1 AUTOMATED_EXECUTION_ORDER_PRIVATE
22 SecurityIDSource 8 EXCHANGE_SYMBOL
38 OrderQty 10000
40 OrdType 1 MARKET
48 SecurityID ZT
54 Side 1 BUY
55 Symbol ZT
59 TimeInForce 4 FILL_OR_KILL
60 TransactTime 20121112-16:45:50.468
167 SecurityType FUT FUTURE
200 MaturityMonthYear 201212
207 SecurityExchange XCBT

Thanks.

9

If you guys are using teh FIX portal from Fid, then that is very easily aachieved. Keeps things nice and tidy on the f/e as well.

Well the limit price is really the best market price and for market protect the limit price factors in the protection points. We are also thinking about fixing the order type in the message flow to show that it has rested as a limit since that is indeed the case.

Also note, that CME does not natively support @Market either. It will accept them, but will apply a limit price to the order whilst keeping the OrdType as “Market” on the message flow.

Yes you are probably right – I did not look too closely at the error text – good catch.

Aditya, the error to me looks like a Fidessa reject and not an exchange reject. It would have been rejected by the exchange, but this order is failing the Fidessa validation rules. Please get Fidessa (or your own fidessa support) to check the config for this market

Thanks Aditya. Emailed cset. Let’s see what they suggest.

We support only synthetic FOK – please contact CME Customer Support for Electronic Trading (CSET) at cset@cmegroup.com

Hi, I am sending a test order to CME cert. environment. (Market with FOK as time in force). But I am getting this error. Can anybody please help me understand this error? Market and FOK is a valid combination I believe…

"The combination of price type, price type qualifier, expiry type and trading period are not valid for the market “CBT-GFU”. "

The other parameters:
15 Currency USD
21 HandlInst 1 AUTOMATED_EXECUTION_ORDER_PRIVATE
22 SecurityIDSource 8 EXCHANGE_SYMBOL
38 OrderQty 10000
40 OrdType 1 MARKET
48 SecurityID ZT
54 Side 1 BUY
55 Symbol ZT
59 TimeInForce 4 FILL_OR_KILL
60 TransactTime 20121112-16:45:50.468
167 SecurityType FUT FUTURE
200 MaturityMonthYear 201212
207 SecurityExchange XCBT

Thanks.