Order states
An order's full life-cycle is represented through the Upvest Investment API as a set of states. The state of an order at any given time provides a clear perspective on the stage of order processing, and possible order actions:
| State | Description |
|---|---|
NEW | The order has been placed and the corresponding checks are performed, orders with the status NEW can be cancelled. |
PROCESSING | The order checks have been passed, and the order has been submitted to the trading partner. |
FILLED | The order has been executed in whole. |
CANCELLED | The order was cancelled by you or due to an error at the trading partner. |
Order state transitions
NEW to PROCESSING
An order changes from the status NEW to the status PROCESSING, when the following conditions are fulfilled:
The account is
ACTIVE, i.e., all user checks for the account holder have been performed and passed.For buy orders: The account group has sufficient cash balance to purchase the securities. For orders with a specified number of instrument, an additional cash buffer of 10% on the expected market value of the order is required.
For sell orders: The account has sufficient instrument quantity to sell the securities.
For orders with a nominal value, an additional buffer of 10% on the expected instrument quantity is required.
- If the order is placed outside trading hours, as soon as the trading partner is open.
PROCESSING to FILLED
An order remains in the PROCESSING status if the following conditions are met:
- The order is not fully filled by the exchange.
Once the order fulfilment is confirmed by the trading partner, it changes to the FILLED status.
If the trading partner detects an error in the order, the order will change from PROCESSING to CANCELLED. This order will not be re-issued by Upvest and can be safely resubmitted by you.