Orders were automatically canceled on Click 365 → New limit orders are OK, but profit-taking limit orders are not allowed?
Last time, about “GMOクリック証券 くりっく365” FX bid orders were not only did they expire at the start of the following week when the market opened despite being within the order expiration time, but they were treated as canceled. Why were they canceled despite being within the deadline?… I think I wrote up to this point.
I immediately contacted GMO about this question.
On the morning of 8/8, three CHF/JPY sell orders expired.
One of the orders is as follows.
The following order expired.
Currency pair: CHF/JPY
Trade - Buy/Sell: New - Sell
[Order details]
Order number: 0117
Order received: 07/25 09:38
Order type: IFD
Order quantity: 1
Order price: 109.88
Execution condition: Limit
Validity: 10/25 10:00
If the expiry is 10/25, why did the order expire?
Also, in my account there are CHF/JPY sell orders that did not expire, such as orders 0107 and 0108, which remain. It makes no sense that some CHF/JPY sell orders within the valid period are canceled on their own while others remain… Why does this happen? Please do not automatically expire orders within the valid period!
Supplement: Order 0107 was a CHF/JPY sell at 109.33. 0108 was a CHF/JPY sell at 111.30. These two orders did not expire, but the 109.88 sell in order 0117 expired within the deadline, which is why I inquired.
GMO Click Securities’ response
In the Click 365 trading, if you place orders with “weekend until” or “date/time specified” for the next business day or later, and by the end of the day the full amount has not been filled or canceled or expired, then orders are carried forward to the exchange during pre-open.
They will continue to be repeated until fully filled, canceled, or expired by the specified expiration time.
Orders that fall outside the allowable range at the time of rollover are expired.
The expiration of orders is determined at pre-open every Monday.
The IFD order placed on Monday, July 25, was issued at the following rate.
New sell 109.88 [Limit]
Settlement buy 107.88 [Limit]
The allowable range for order acceptance is plus or minus 3 yen for CHF/JPY.
Furthermore, to prevent mis-orders, the order price restrictions are applied to orders that would disadvantage the customer (for example, buy limit orders set too high or sell stop orders that would be disadvantageous).
Therefore, in this case, the settlement buy order at 107.88 yen was deemed to be too far from the actual rate by more than 3 yen and the order was effectively canceled.
Also, the opening price on Monday 8/1 was 105.4 yen and not more than 3 yen away from the limit price, so it did not expire; but today, on Monday 8/8, it started at 103.7, which is more than 3 yen away, so the order expired.
Please refer to the below trading rules for the expiration of Click 365 orders.
■ Click 365 Trading Rules
https://www.click-sec.com/corp/guide/c365/rule/
In short, it seems like: if you place an order that is more than ±3 yen away from the open Monday rate (CHF for CHF), it will be canceled as a misorder or as detrimental to the customer?
But even this does not make sense
They responded that the settlement buy order at 107.88 yen was removed because it was more than 3 yen away from the actual rate, but CHF/JPY sells at 109.33 and 111.30 were not removed, and no settlement buy was placed.
So, only new sell orders for setup are not removed regardless of how far the rate is.
However, if you add a take-profit settlement buy to the same IFD, it becomes a target for deletion.
I am not satisfied with this, so I asked additional questions.
Next, it continues to the final episode.
Writer:Nemu-GonI tell the truth! I run a comprehensive FX information site called “Former Financial Institution Employee’s FX Blog.” I have 9 years of FX experience and also trade Nikkei 225, gold, and crude oil.
Blog:Telling the truth! ‘Former Financial Institution Employee’s FX Blog’
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