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Estimate Order Cost

Costs associated with Orders​

There are costs associated with placing an order on the OMS API. The total cost comprises the trading service fee (commission + slippage if any) and taxes.

The fee is the sum of commission and slippage: FEE = COMMISSION + SLIPPAGE

The cost of an order is the sum of the fee and tax: COST = FEE + TAX

OMS API endpoint for cost estimation​

Before placing an order for a client, an approximate cost for the specific order can be obtained via the OMS API endpoint URL:

GET: /api/order/cost/estimate

The cost may depend on various order parameters:

  • Client Id
  • Order Type
  • Order SubType
  • Order Side
  • ISIN of the financial instrument
  • Instrument Type (Stocks, Funds, Bonds, Warrants, ETFs, etc.)
  • Trade Source Platform (FIX_CLIENT, REST_API)
  • Trade Provider (end trading service provider / market provider)
  • Price: Mandatory for "LIMIT" and "STOP_LIMIT" orders
  • Quantity: Mandatory if Order SubType is "REGULAR" or "FRACTIONAL" only
  • Order Amount: Mandatory if Order SubType is "MONEY_ORDER" only

Response​

The response will be a TradeCostEstimate object model.

The approximated total cost associated with the order is in the FeeCalculationResult object.

response -> feeCalculationResult -> estimatedMaxTotalPrice

The approximated total tax associated with the order is shown by:

response -> totalTax

{
  "feeCalculationResult": {
    "code": "Unknown",
    "commission": 3.25,
    "comissionRatioToVolume": 1,
    "commissionInfo": "Commission: 3.25. Commission %: 1.00",
    "totalCommissionInfo": "Commission: 3.25. Commission %: 1.00",
    "estimatedSlippage": 0.25,
    "estimatedSlippageInfo": "%1 OF TOTAL",
    "estimatedMaxTotalPrice": 3.50,
    "estimatedMaxTotalPriceInfo": "ORDER_QTY x STOP_PRICE + ESTIMATED_SLIPPAGE",
    "errorMessage": "FeeDefinition is not defined for this order type and instrument type."
  },
  "totalTax": 0.4
}