US Futures Order Handling Rules

Interactive Brokers may simulate certain order types on its books and submit the order to the exchange when it becomes marketable. The IB website contains a page with exchange listings. The linked page for each exchange contains an expandable "Order Types" section, listing the native order types submitted using that exchange's native order type and the order types that are simulated by IB for that exchange. See our Exchange Listings.


Please note the following rules for stop, stop-limit and other orders on the US futures exchanges.

All US Futures Exchanges

Stop Orders: Interactive Brokers provides customers with simulated stop orders. Orders can be placed at any time during regular trading hours. Please note, simulated stop orders in U.S. futures contracts other than single stock futures will only be triggered during regular trading hours unless you specify otherwise. For additional information on setting the time in force (TIF), please refer to the Trader Workstation User's Guide.


CBOT (E-CBOT)

Stop-Limit Orders: Stop-limit orders configured to trigger outside RTH are submitted using the exchange's native order type and can be placed at any time during regular trading E-CBOT trading hours. Stop-limit orders on E-CBOT (and NYMEX) configured to trigger outside of regular trading hours with a trigger method set to bid/ask may trigger in illiquid markets and/or based on quotes with wide bid/ask spreads. Please note the following restrictions placed by E-CBOT:

  • Trades outside the "fair market value" will be cancelled by E-CBOT and the party responsible for entering the order into the electronic trading system that gave rise to the trade cancellation or price adjustment shall pay an administrative fee to the Exchange in the amount of $500 for each such occurrence.
  • Closed daily from 17:00 - 20:40 and 23:40 - 00:15 ET for CBOT/IB daily maintenance.
  • Day orders will be cancelled at 17:00 ET.
  • GTC and GTD orders cannot be cancelled from 23:40 - 00:15 ET.

CME (GLOBEX)

Stop-Limit Orders: Stop-Limit orders configured to trigger outside RTH are native to GLOBEX and can be placed at any time during regular Globex trading hours. Please note the following restrictions placed by GLOBEX:

  • For Sell Stop-Limit Orders, the limit price must be <= stop price (aux. price)
  • For Buy Stop-Limit Orders, the limit price must be >= stop price (aux. price)

ICE/NYBOT

Stop-Limit Orders: Stop-limit orders configured to trigger outside RTH are submitted to ICE/NYBOT using the exchange's native order types and can be placed at any time during regular ICE/NYBOT trading hours. Stop-limit orders configured to trigger outside of regular trading hours with a trigger method set to bid/ask may trigger in illiquid markets and/or based on quotes with wide bid/ask spreads.

Note:
  • To view the time that a stop order in a particular product is eligible to be triggered, you may also place your mouse pointer over the Time In Force field in the order line and a pop-up will display the information.

Interactive Brokers Canada Inc. is a member of the Canadian Investment Regulatory Organization (CIRO) and Member - Canadian Investor Protection Fund. Know Your Advisor: View the CIRO AdvisorReport. Trading of securities and derivatives may involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines. Interactive Brokers Canada Inc. is an order execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives. Our registered office is located at 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada.


Know Your Advisor: View the CIRO AdvisorReport