New Order Types for FX Instruments

In an effort to simplify order placement for FX instruments, we will be transitioning from one set of stop orders to another set of stop orders. This document explains the change, how it affects you as application developers, and how we intend to roll it out.

What is the change?

Which asset types are affected?

The change only affects the asset types: FxSpot.

Which order types are affected?

Today the list of available order types for FxSpot are:

• For non-DMA trades: StopIfBid, StopIfOffered,TrailingStopIfBid,TrailingStopIfOffered and StopLimit, Market and Limit
• For DMA trades:GuranteedStop,TrailingStop, StopLimit, Market and Limit.

After the change, we will only offer: Stop,TrailingStop, StopLimit, Market and Limit for both non-DMA and DMA trades.

As a developer you will not see a change in the list of PlacableOrderTypes enum. But once the transition is made, you will find that the list of "SupportedOrderTypes" returned for an instrument, when calling ref/v1/instruments/details will be modified to only return Stop, TrailingStop, StopLimit, Market and Limit. In other words the values of StopIfBid, StopIfOffered,TralingStopIfBid,TrailingStopIfOffered and GuaranteedStop, will no longer be returned for FxSpot.

The mapping between the two sets of order types is listed below

NOTE: When specifying a Stop order, the system will automatically ensure that a Stop-Buy order is triggered upon breach of the Bid price and a Stop-Sell order is triggered upon breach of the Ask price.

Which parts of the API will be affected?

SupportedOrderTypes for Instruments

The list of supported order types returned when calling ref/v1/instruments/details, will be changed to only return Stop, TrailingStop and StopLimit, as well as Market and Limit.

OrderTypes in Portfolio

For at least 3 months after the launch of this change, orders will be returned with the exact order type specified when the order was placed. So If an order was placed with type StopIfBid prior to the change, it will also be returned with the type StopIfBid after the change.

This means that for a period the orders resource may return orders with both the old and the new types. If you then try to update an order with the "old" type you may specify either the "old" or the new type.

Approximately 3 months after the launch of this feature we will implement a forced change of all remaining open orders from the old types to the new types. 

OrderTypes in ActivityLogs

We will not be changing order types which have already been logged in and available in /cs/audit/v1/activities and /cs/audit/v1/orderactivities. New orders entered will be captured with the new order types.  

OrderPlacement

As always your application is expected to first check supported order types (from calling ref/v1/instruments/details) and only use the order types listed, when placing or modifying orders.

In a transition period the orders/v1/ orders/v2 interfaces will however also allow the now current GuaranteedStop, StopIfBid,StopIfOffered, TrailingStopIfBid, TralingStopIfOffered order types. 

Transition Stages

(NOTE: Dates are tentative and you will be given a schedule update at regular intervals).