I think it would be great if MC rounded off the emulated orders functionality by adding limit order too.
Emulating limit orders locally can be done with IOG but for ease of rolling out signals without the need to stress test IOG code coupled with an MC coded solution being faster and more streamlined, i think adding the option would be great.
Simply add it next to the other two radio buttons for stop and stoplimit orders
Some users might be thinking why I would want such functionality. Fact of the matter is that if you leave resting large limit orders working overnight, in this era of level 3 data you are much more likely to get picked on! By adding the option the user can flip between native and emulated limit orders on the fly which will be very useful indeed!
I believe in the early days of MC, emulated limit orders was actually the standard behaviour. Would be great if the limit order comes to market once its price is touched and/or best ask = buy limit price.