Order-type and routing scripts for faster execution

Live fields can fire a planned send

A live spreadsheet can hold last price, prior price, session high and low, volume, and volume-weighted average price so a preplanned send can fire when those fields meet a rule.

Opening-only and close-imbalance tickets

An opening-only order is eligible only in the opening auction and otherwise cancels. An opening-only buy or short can be paired with an automatic opposite-side limit split after a fill, so the exit tickets can leave about a second after the open print.

A market-on-close imbalance is the leftover buy or sell quantity published before the close that still needs to be absorbed in the closing auction. Market-on-close imbalance size, published 15 minutes before the close and typically above 50,000 shares, can be compared with average daily volume to decide whether a preplanned ticket should fire.

Hotkey scripts reuse one ticket

A hotkey script is a keystroke that submits a prebuilt ticket with order type, size, price offset, and destination already set. A hotkey can submit a buy or sell as a market order or at the displayed bid or offer so the same size ticket can be reused across symbols.

A market order is a buy or sell that takes the currently available opposite-side price. The same hotkey framework can launch midpoint, dark-pool, algorithmic, or direct-market-access tickets with preset price, size, position fraction, dollar amount, and time-in-force values.

Passive, aggressive, and immediate-or-cancel limits

Venue routing is the choice of exchange or electronic network that receives the ticket and therefore sets display, fill, fee, and rebate outcomes. When there is no urgency to enter or cover, a passive limit can be routed to a destination that pays for adding displayed liquidity. A passive limit is a resting limit that waits to be hit and typically adds displayed size. A liquidity rebate is a venue payment tied to adding displayed size or, on some destinations, to taking it.

An immediate-or-cancel time-in-force fills whatever is available now and cancels any leftover quantity. An immediate-or-cancel limit is canceled rather than left displayed if no liquidity is present to fill it at once.

An aggressive limit is a limit priced at or through the far touch so it can take available size immediately. When immediate execution is needed without advertising a resting order, an aggressive limit can be priced through the far touch, for example two cents above the current ask, and sent to a chosen destination.

Alerts while carrying size

Alerts on price, volume-weighted average price, or volume can notify a trader who is carrying size without placing a resting stop, because a temporary outside-market move can trigger those stops.