Starbase - Placing a New Order

Placing a new order

Fill Limits: The maximum number of fills on a single order is 2000 fills for single-leg instruments and 400 fills for combo instruments.

Lowest-latency order entry: Set the MMP flag (field 10, bit 4) so the order uses the MMP risk bypass — the lowest-latency method for market access, which skips the pre-trade risk engine. The bypass applies whether the order makes or takes. Most integrating clients should prefer this path for all order entry. The bypass requires the MMP configuration’s Quantity Limit ≤ Max Quote Quantity.

NewOrderRequest (100)

Request to place a new order sent by the client. The order will belong to the portfolio with which the connection was authenticated. Will be followed by a NewOrderResponse in case the order placement is successful or by a NewOrderReject in case the order placement is unsuccessful. Any immediate fills will be added to the NewOrderResponse and will NOT be sent in an OrderFilled. Any consecutive unsolicited change to the order (including fills) will be sent in an OrderFilled. If the order aggresses and is subject to a speed bump, the NewOrderResponse is sent immediately with orderState = 4 (queued). Once the speed bump period expires and the order is entered into the book, an unsolicited OrderPlaced message is sent. See Speed Bumps for details.

Null values: Some optional fields use NULL_LONG / NULL_QUANTITY (0x8000000000000000L) as a sentinel to indicate “not set”. For example, set displayAmount = NULL_QUANTITY to place a non-iceberg order, or limitPrice = NULL_LONG for a market order.

Quantity units: Encode quantity as Decimal72 in the instrument’s quantityAsset and validate it against minOrderQuantity from the multicast InstrumentDefinition. Do not copy a FIX contract count directly into this field. See Quantity units and contract size.

Field	Name	Type	Length	Description
1	clientOrderId	int64	8	Required. Numeric client order ID. Unique per portfolio.
2	correlationId	int64	8	Required. Client-assigned ID. Scope: per connection.
3	instrumentId	int64	8	Required. Numeric instrument ID.
4	limitPrice	Price9	8	Limit price. For market orders set to `0x8000000000000000L` and use `marketLimit` flag.
5	quantity	Decimal72	9	Required. Quantity.
6	showQty	Decimal72	9	Visible amount for iceberg orders. Setting this field to any value (including equal to `amount`) marks the order as an iceberg order. To submit a non-iceberg order, omit this field or set it to `NULL_QUANTITY`. Iceberg orders are not supported for options and combo instruments.
7	selfMatchPreventionId	int64	8	SMP token. This order cannot match with any other orders within the same portfolio with the same token. `0` /null → no SMP enforcement.
8	side	int8	1	Required. `1`=BUY `-1`=SELL
9	timeInForce	int8	1	`-2`=Immediate-or-cancel `-1`=Fill-or-kill `0`=Good-til-cancel Any number >0 will be the number of days the order will be alive, such that an order with `1` will be cancelled at the next settlement.
10	flags	uint16	2	See the table below.
11	smpMode	int8	1	Required. `0`=CancelTaker `1`=CancelMaker Note: if the taker order is speed-bumped, the mode is overridden to `CancelMaker` regardless of this field.

The table below outlines the content of field 10 (flags) of NewOrderRequest.

Bit number (from last to first)	Name	Description
0	cancelOnDisconnect	Order-level cancel-on-disconnect flag.
1	postOnly	Enables post-only that amends the order price to the best bid/ask if it would be immediately executable. The amended price is then validated against price limits. Mutually exclusive with `postOnlyReject`.
2	postOnlyReject	Enables post-only that rejects the order if it would be immediately executable. Mutually exclusive with `postOnly`.
3	marketLimit	Set `limitPrice` based on the top-of-book instead of the price band.
4	MMP	The order will be subject to the default Market Maker Protection group
5	resetMmp	Unfreeze orders MMP group
6	Reserved for future use
7	Reserved for future use

No reduce-only flag: reduce-only cannot be set per order in SBE. It exists only as a portfolio-level restriction applied by Deribit, reported as cancelReason = 8 (REDUCE_ONLY) when an order would increase a position. Per-order reduce-only is available on the JSON-RPC (private/buy, reduce_only) and FIX (NewOrderSingle, ExecInst = E) APIs.

NewOrderResponse (200)

Response to confirm a NewOrderRequest was successful, sent from the exchange to the client. Any immediate fills generated by the NewOrderRequest will be included in the NewOrderResponse and will NOT be sent additionally in an OrderFilled.

Field	Name	Type	Length	Description
1	transactTime	int64	8	Nanoseconds since epoch. Time of entry into the order book
2	execId	int64	8	Exchange-assigned event ID
3	clientOrderId	int64	8	Numeric client order ID
4	correlationId	int64	8	Client-assigned ID
5	orderId	int64	8	Numeric exchange assigned order ID
6	instrumentId	int64	8	Numeric instrument ID
7	limitPrice	Price9	8	Price. Can differ from submitted price when post-only (amend) is enabled
8	quantity	Decimal72	9	Decimal floating point order quantity accepted by the exchange
10	totalFilled	Decimal72	9	Immediate fill total
11	visibleQty	Decimal72	9	For iceberg orders this is the visible amount in the book. For non-icebergs this is the remaining amount (amount - filledAmount).
12	side	int8	1	`1`=BUY `-1`=SELL
13	status	int8	1	`1`=Active `2`=filled `3`=cancelled `4`=queued (speed bumped)
14	cancelReason	int8	1	See Cancel Reason Codes
15	blockLengthOfFills	uint16	2	25 (bytes). Size in bytes of each fill record in the repeating group.
16	numberOfFills	uint16	2	Number of fills in the following repeating group.
->17	matchId	int64	8	Transaction ID representing match.
->18	fillPrice	Price9	8	Price of fill
->19	fillQty	Decimal72	9	Quantity of fill
20	blockLengthOfLegs	uint16	2	34 (bytes)
21	numberOfLegs	uint16	2	Indicates the length of the following repeating group containing all combo leg quantities and prices. Non-zero for trades on combo instruments only.
->22	matchId	int64	8	Transaction ID representing match.
->23	instrumentId	int64	8	Numeric instrument ID
->24	legPrice	Price9	8	Price of this leg in the combo instrument
->25	legQty	Decimal72	9	Quantity of this leg in the combo instrument
->26	legSide	int8	1	`1`=BUY `-1`=SELL

NewOrderReject (202)

Reject generated in case a NewOrderRequest is unsuccessful.

Field	Name	Type	Length	Description
1	transactTime	int64	8	Nanoseconds since epoch. Time of entry into the order book
2	execId	int64	8	Exchange-assigned event ID
3	clientOrderId	int64	8	Numeric client order ID
4	correlationId	int64	8	Client-assigned ID
5	orderId	int64	8	Numeric exchange assigned order ID
6	instrumentId	int64	8	Numeric instrument ID
7	reason	int8	1	Rejection reason code. See Rejection Reason Codes for possible values.
8	details	char	0-255	ASCII-encoded string

Introduction

API Reference

Core Concepts

Technical Information

Placing a New Order

Placing a new order

NewOrderRequest (100)

NewOrderResponse (200)

NewOrderReject (202)

​Placing a new order

​NewOrderRequest (100)

​NewOrderResponse (200)

​NewOrderReject (202)

Placing a new order

NewOrderRequest (100)

NewOrderResponse (200)

NewOrderReject (202)