- Limit Order
An order that can be matched either in part or its entirety. If a limit order is not fully matched it will remain active in the market until the product the order is placed on goes into expiry.
- Fill or Kill (FoK)
An execution constraint for a limit order. A FoK constraint means that the entire volume of the order will either be matched immediately upon submission to the market or cancelled instantly.
- Immediate or Cancel (IoC)
An execution constraint for a limit order. An IoC constraint means that as much as possible of the order will be matched immediately upon submission to the market and the remaining volume will be cancelled instantly.
Iceberg Order (IBO)
The total order volume is split up into smaller orders known as “Clips” where only a single clip at a time is visible on the Market Information window. Your total Iceberg volume will be visible in the “My Orders” window, however the rest of the market will only be able to see a single clip on screen, without knowing it is an Iceberg order. Once the first clip is matched, the next clip receives a new order number and timestamp. When initially entering the Iceberg order, it is possible to add increments to the price of i.e. +/- £1 for each new clip that appears on the Market Information window. The minimum Clip Size is set to 5MW.
- Select product on Market Information screen
- Click on “Place Order” which will open the Order entry tool tip
- In Order type select “IBO”
- Enter the total Iceberg quantity e.g. 100 Mw
- Enter the clip quantity (minimum 25Mw)
- Choose whether to add a price change per clip that is hit e.g. +1 EUR
- Click “Place Sell” / “Place Buy”
Order management window:
This will appear in the My Orders window:
The active Iceberg order will be visible to the owner as “IBO”:
Block Orders (User Defined)
Create a block order by holding Shift Key and selecting the hours you like to include in your block order. A drop down will show the block you have selected. Click “Place Block Order” to open the Order Management window
Select either Buy or Sell and insert quantity and price before you Place the Block Order.