• 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.

  1. Select product on Market Information screen
  2. Click on “Place Order” which will open the Order entry tool tip
  3. In Order type select “IBO”
  4. Enter the total Iceberg quantity e.g. 100 Mw
  5. Enter the clip quantity (minimum 25Mw)
  6. Choose whether to add a price change per clip that is hit e.g. +1 EUR
  7. Click “Place Sell” / “Place Buy”

Order management window:

This will appear in the My Orders window:

Special cases for IBO modification - available from 4.26.0 release onwards
Total quantity is lesser then minimum allowable IBO clip size
For instance we have IBO 8 MW Total, 5 MW clip. We managed to match the first clip. Now we have IBO in such state that remaining quantity is under the minimum size of IBO(5 MW). In this case you are able to start the order modification. On form opening you will get a warning message
There are two options
- you increase the Total Quantity over the 5MW limit. On order update there still be IBO with changed values
- you want to decrease the Total Quantity under the current value. On order update IBO will be converted into Limit order with edited values.
Clip size adjustment
For instance we have IBO 50 MW Total 30 Clip size. In case of matching the clip we face the IBO with clip size over the total quantity. Let's try to modify it.
You will get prompted with warning message - you can click on Update Order button and the Clip Size value will be automatically adjusted to the Total Quantity value. Of course you can enter values manually as well.

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.