What order status should be given when reporting “Stop-loss” when it is not activated?
The TRUM does not contain any examples of reporting “Stop-loss” orders whereas it is quite commonly used by market participants.
Because a “Stop-loss” order before its activation is not visible in the order book of the organised market place it cannot be reported as ACT (active). Should it be reported in the field “Order status” as SUS (Suspended) or OTH (Other)?
Since a “Stop-loss” order is not visible in the order book of the Organized Market Place before it is activated, it should not be reported. An order with Stop-loss or any other trigger (e.g. profit-taking) should be reported if already Active in the order book.
Last update: 16/11/2015
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