3 Sigma Trading - Order Types

Why was my Limit order not filled?

For most products, Futures contracts are filled using a FIFO (First in, First out) method.  

If the market traded at the price where you placed a Limit Order, but there were not enough contracts filled to reach your order, it may not be filled. 
 
Example: The ES is trading at a price of 2999.50, you place a working Buy Limit Order for one contract at 2999.00, but there are already 400 contracts at this price waiting to be filled.  Your order should go in as the 401st contract in the queue. 

  1. Price trades down to 2999.00, but only fills 350 contracts, then trades back to 2999.50 - You are not entitled to a fill.  
  2. Price trades down to 2998.75 - You should be filled at 2999.00, where your working order was, or 2998.75, a better price 


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