Order Limits

The Marketcetera ORS has support for global order limits.

The following limits are supported:

• Allow/Disallow market orders
• Maximum (per share) order price
• Maximum notional price (ie nShares * pricePerShare)
• Minimum order price
• Maximum quantity per order

If an incoming order violates an order limit it will be rejected by the ORS with the reason. Photon, for example, will display the rejection reason in the console view.

The limits are specified in the order-limits.xml file and can be modified by changing the following parameters. By default, none of the limits are specified, and market orders are allowed:

    <bean id="orderLimits" class="org.marketcetera.ors.OrderLimits">
        <property name="disallowMarketOrders" value="false"/>
        <property name="maxPrice" value="100"/>
        <property name="maxNotionalPerOrder" value="10000"/>
        <property name="minPrice" value="0"/>
        <property name="maxQuantityPerOrder" value="10000"/>
    </bean>