It’s looking like a really nice and practical layer interface, with guenine benefits.
That’s also part of the problem that was expressed. It was meant not to mimic functionnalities platform wise only. But have the nature of the transmission respected in terms of order types forwarded to face the LPs.
Fill Or Kill orders with a volume feedback.
True limit orders that are placed within the order book.
StereoTrader talks about “synthetic” MIT orders for a reason. They still don’t get last trade, so they derive from bid/ask prices in an attempt to win the spread by early entry. The trigger is not the real deal.
Not that it’s particularly better or worse, just different.
Another quest of order type would be volume weighted orders to trigger only when a given quantity trades to pierce throuh a level.