Order Type in the new order

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Imported from previous forum

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Hi everybody
can any one tell me please about the the meanning of the values of the ordertype tag in the new order?? for example what is the meanning of 1=market 2= stop 3=stop limit etc… or at least please give me a link to a site that provides these information

thank u very much in advance for your help

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Hi everybody can any one tell me please about the the meanning of the
values of the ordertype tag in the new order?? for example what is the
meanning of 1=market 2= stop 3=stop limit etc… or at least please give
me a link to a site that provides these information

thank u very much in advance for your help.

Hello Mo,

I hope this helps.
your are welcome to contact me if you need more information regarding this.

Bobby Jhita

Market Order
A market order is an order to buy or sell an asset at the bid or offer price currently available in the marketplace for the amount of order quantity.

Limit Order:
Limit Order. An order to buy/Sell securities at or below
a specific maximum or minimum price.

Stop Order:
A Stop order becomes a market order to buy or sell securities or commodities once the specified stop price is attained or penetrated.
Stop Limit:
Stop-Limit Order. A stop order that specifies a price limit. Unlike
the stop order, which becomes a market order once the stop is reached,
the stop limit order becomes a limit order. For example, an
order of “buy 100 GE STOP 101 LIMIT” means that when the price of
GE stock reaches $100 a share, the broker will put in a limit order
that will be executed only as long as GE stock is less $101 a share.

Market-on-the-Close Order.
An investor’s order to buy or sell a security at the close of the trading day, or as near to the close as possible.

Limit-or-Market-on-Close Order.
An order to buy a specified number of shares of a certain security at a certain price. If the broker cannot execute the order as specified, he or she is to execute it
as a market order as close to the specifications as possible and
as close to the end of the trading day as possible.

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[ original email was from Leigh Thompson - leigh.thompson@rbos.com ]
Additionally, all the values are detailed in the Glossary contained in Volume 1 of the FIX 4.4 specification.

Hi everybody can any one tell me please about the the meanning of the
values of the ordertype tag in the new order?? for example what is the
meanning of 1=market 2= stop 3=stop limit etc… or at least please
give me a link to a site that provides these information

thank u very much in advance for your help.

Hello Mo,

I hope this helps. your are welcome to contact me if you need more
information regarding this.

Bobby Jhita

Market Order A market order is an order to buy or sell an asset at the
bid or offer price currently available in the marketplace for the amount
of order quantity.

Limit Order: Limit Order. An order to buy/Sell securities at or below a
specific maximum or minimum price.

Stop Order: A Stop order becomes a market order to buy or sell
securities or commodities once the specified stop price is attained or
penetrated. Stop Limit: Stop-Limit Order. A stop order that specifies
a price limit. Unlike the stop order, which becomes a market order
once the stop is reached, the stop limit order becomes a limit order.
For example, an order of “buy 100 GE STOP 101 LIMIT” means that when
the price of GE stock reaches $100 a share, the broker will put in a
limit order that will be executed only as long as GE stock is less
$101 a share.

Market-on-the-Close Order. An investor’s order to buy or sell a security
at the close of the trading day, or as near to the close as possible.

Limit-or-Market-on-Close Order. An order to buy a specified number of
shares of a certain security at a certain price. If the broker cannot
execute the order as specified, he or she is to execute it as a market
order as close to the specifications as possible and as close to the end
of the trading day as possible.

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thank you very much Bobby Jhita for your great help