cats news

citi about us news
January 2013

Launch of a New Order Types

Conditional Orders, where the underlying order type remains the same and the trigger is from another source, were added to cats-ls.

The trigger event (the condition) is no longer the bid/ask quote of the instrument to be traded but is the market quote of an index, the instrument underlying or another product. Two alternative methods for implementation are available:

  • Activation of an existing limit-order: The condition is submitted with a cats-ls order. When the condition is met the order is triggered.
  • Activation of a new order: The condition alone is sent to cats. Once the condition is met the Order Flow Provider receives an alert message to allow a validation of the client's trading position before the automatic submission of a new limit or market order to cats-ls.

In Germanic market this will be known as a "Wenn-Dann-Order".

cats-ls now also includes "Immediate or Cancel" (IoC) and "Fill or Kill" (FoK) orders.