Conditional Orders only are triggered if the pre-sets are satisfied. The trader must set the trigger price to either the Last Traded Price, Mark Price or Index Price. A Conditional Order is best utilized when traders desire advanced strategies that can automate the trade depending on the change in price. Conditional Orders contain the following orders.
Conditional Market Order
Conditional Market Orders will be executed at the best available price when the market price (Last/ Index/Mark) reaches the designated trigger price.
Conditional Limit Order
Conditional Limit Orders will only be placed in the order book when the market price (Last/ Index/ Mark) reaches the designated trigger price. As a normal Limit Order will be placed once the order is triggered, traders can a Time in Force strategy.
The following order types are the most commonly used Conditional Orders and will be dealt in the Advanced Orders section