Trade Taker Scenarios

These scenarios test market orders.

Empty Market Order

Goal: Accept a cancel on a market order when there is no liquidity to fill it.

Step	By	Action
1	You	Place a market order on an empty market

Where	Observation
FIX-TR	Order is canceled

Basic Market Order

Goal: Place a market order and receive a complete fill.

Step	By	Action
1	OpenYield	Place a limit order
2	You	Place a market order to hit/lift it

Where	Observation
FIX-TR	Order is accepted, then FILLED

Oversized Market Order

Goal: Place a market order for more than the liquidity shown and receive a cancel on completion.

Step	By	Action
1	OpenYield	Place a limit order
2	You	Place a market order to hit/lift more than its QUANTITY

Where	Observation
FIX-TR	Order is accepted, then PARTIAL, then CANCELED
FIX-DC	A PARTIAL is received

Multiple Fill Market Order

Goal: Place a market order that sweeps liquidity and receives multiple fills.

Step	By	Action
1	OpenYield	Place several limit orders
2	You	Place a market order to hit/lift more than the top order's quantity

Where	Observation
FIX-TR	Order is accepted, then PARTIAL, then another PARTIAL, then CANCELED
FIX-DC	Two PARTIALs are received