Definitions for "contingent order"
An order which is to be executed only if another order is executed first. An...
A contingent order is one which is entered at the same time as a primary futures order but is queued internally by the XPRESSTRADE system until the primary order has been executed and the fill has been reported back to the XPRESSTRADE system. At that time, the contingent order is activated and is routed directly and electronically to its destination. Before you enter a contingent order, it's important that you understand that XPRESSTRADE accepts such orders strictly on a "Not Held" basis.
an order that executes when triggered by an outside event, like the achievement of a stock price or index level