Automatic Cancel on Disconnect or Malfunction

Open orders for a TPH will be cancelled automatically if no messages have been received from the TPH for two heartbeat intervals. The set of open orders cancelled will include Good 'Til Cancel (GTC) and Good 'Til Date-Time (GTD) orders if the Cancel On Disconnect port setting is configured to include GTC and GTD orders. This is done to prevent orders from being stuck in an unknown state in the event of telecommunications failure. TPHs should choose their heartbeat interval carefully based on the latency and reliability of their telecommunications channel. The minimum supported interval is 5 seconds, and this is also the recommended interval if the latency and reliability of your telecommunications channel support it. Execution reports for the automatically cancelled orders are available upon reconnection. TPHs are responsible for rerouting orders to other market centers based on their business needs. This should be rare, but all open orders may also be cancelled in the event of a complete or partial system malfunction.

Note that Port Cancel on Disconnect behavior is in effect from the time persisted orders are reloaded to the book to the end of the Cancel-Only period. Clients may modify this port attribute via the logical port request tool available on the customer web portal.