Contingent Orders

Contingent Orders functionality may not be available on all logins.

Contingent orders facilitates the automatic generation of market orders when specific market conditions are met. For example, a contingent order can be created to generate a BHP Buy order at $20.00 for 500 shares if/when BHP trades at $19.50.

The contingent order remains visible in the Contingent Orders command after the market order has been generated but is automatically removed when a trade is executed against the order, regardless of whether the order is fully or partially traded.

To open the Contingent Orders command

Method one: from the menu bar

  1. In the Orders menu, place the cursor over the arrow to the right of Contingent Orders.

  2. Click the frame the command is to opened. See Opening Commands for more information.

Method two: from a command

  1. Open the Order Status command or Trading Room command.

  2. Right-click in the lower section of the Order Status or Trades Status frame.

  3. Click Contingent Orders. The Contingent Orders command opens.

To create a contingent order for a selected security

  1. In any price based command, e.g. Quote or Depth, right-click and select Create Contingent Order.

Note: If you have not already opened the Order Status or Trading Room command and selected an account, the Account Navigator dialog box opens. Tick the Show All Accounts checkbox, select an account and click OK.

 

The Create Contingent Order dialog box opens with the selected security code in the Security boxes.

  1. To create the contingent order, go to step 4 in To add a contingent order.

To add a contingent order

  1. Open the Contingent Orders command.

  2. If you have more than one account, in the Account list, select the account to which you want to add a contingent order. You can choose to view All Accounts. After you select an account, the Contingent Orders command updates to list all contingent orders for the selected account.

  3. Open the New Order dialog box using one of the following methods:

  4. click + Add

  5. right-click on an existing order and select + Add.

  1. In the Contingency section type the criteria that will determine when the order is sent to the market:

  1. Type the security code in the Security box using the format code.exchange, e.g. AOH1.SFD, BHP.ASX, CAH.NZ.

  2. In the Last list, select the price trigger.

  3. In the box that displays Less, select Greater or Less to specify whether an increase or decrease in price will trigger the trade.

  4. Type the price criterion in the Stop Price box.

  1. In the Action section of the dialog box enter the order details:

  1. In the Order Type list select the trade type.

  2. In the Volume box type the volume to be traded. You cannot save an order without a volume.

  3. In the Security box type the security code using a code.exchange format, e.g. ANZ.ASX, AOSPOT.SFD, FAP.NZ.

  4. In the Price Limit box, type the price. Prices should be entered in cents with no decimal points unless a fraction of a cent is to be traded, e.g. $4.25 should be entered as 425.

  5. In the Account list select the account the order is to be posted to.

  1. Click OK. Details of the contingent order appear in the Contingent Orders command.

Tip: If the order does not appear in the Contingent Orders command, the account the order was posted to may not be selected. If this is the case, in the Account list select the correct account.

To modify a contingent order

  1. Open the Contingent Orders command.

  2. If you have more than one account, in the Account list, select the account for the contingent order that you want to edit. You can choose to view All Accounts. After you select an account, the Contingent Orders command updates to list all contingent orders for the selected account.

  3. Select the contingent order that you want to change using one of the following options:

  4. double-click on the order

  5. click Edit

  6. right-click and select Edit from the pop-up menu.

The Edit Order dialog box opens.

  1. Change any of the order details following steps 4 and 5 in To add a contingent order.

  2. Click OK. The order details are updated in the Contingent Orders command.

To remove a contingent order

  1. Open the Contingent Orders command.

  2. If you have more than one account, in the Account list, select the account for the contingent order that you want to delete. You can choose to view All Accounts. After you select an account, the Contingent Orders command updates to list all contingent orders for the selected account.

  3. Select the order you want to delete using one of the following options:

  4. right-click and select - Delete

  5. click - Delete.

The Delete Order dialog box is displayed, prompting for confirmation: "Do you wish to delete the order for "xxx.xxx"?.

  1. Click Yes. The order is removed from the Contingent Orders command.

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