The OCO Order
(Order Cancels Order, also known as One-Cancels-the-Other Order - OCO)
Is the combination of two orders, coexisting but alternative to each other, a take profit and a stop order: the orders have different prices, one above and the other below the current price, and when one of the two is executed, the other is automatically canceled.
Initially available with Directa only on the Futures' markets like IDEM, AGREX, EUREX and CME, the OCO orders are now accepted on LMAX market securities as well, starting from September the 10th 2014.
This order cannot be modified, but only cancelled.
In case one of the two orders is unfilled because of market rules, the other order will be cancelled, too.
The OCO order can be entered from the order entry form, found on the web basic platform, by selecting the appropriate type from the drop-down menu, found beside the button enter, or from Darwin Tiles such as: the booklet or the flashbook.
