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--- administration:administration_auto_liquidation [2024/07/17 18:15] – ryan
+++ administration:administration_auto_liquidation [2026/08/27 15:07] (current) – Add Trailing Drawdown (PropFirm Account Rules) trigger cross-link frank
@@ Line 1: / Line 1: @@
 ====== Auto Liquidation ======
-<WRAP center round todo 80%>
+We now offer automatic liquidation as a feature for futures accounts. Options are not currently supported for auto liquidation. This feature requires a set of auto liquidation triggers to be configured for the firm and auto liquidation settings to be configured for each contract, after which individual accounts can be placed in auto liquidation mode. All accounts that remain in ByPortfolio, ByAccount, etc. will be unaffected by auto liquidation. All contracts with auto liquidation disabled will be unaffected by auto liquidation, but their contribution to margin, P&L, etc. will still count against the account and may trigger auto liquidation in products where auto liquidation is enabled.
-**Coming Soon!**
-</WRAP>
-CTS now offers automatic liquidation as a feature for futures accounts. Options are not currently supported for auto liquidation. This feature requires a set of auto liquidation triggers to be configured for the firm and auto liquidation settings to be configured for each contract, after which individual accounts can be placed in auto liquidation mode. All accounts that remain in ByPortfolio, ByAccount, etc. will be unaffected by auto liquidation. All contracts with auto liquidation disabled will be unaffected by auto liquidation, but their contribution to margin, P&L, etc. will still count against the account and may trigger auto liquidation in products where auto liquidation is enabled.
 ====== Firm Level Auto Liquidation Triggers ======
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   * **Daily Price Limits**
     * If a contract is configured to not allow long (short) positions too close to limit down (up), then that position will be auto liquidated for any accounts with auto liquidation enabled that have the appropriate orders or positions in that contract when the price is within X ticks of limit up or down. This tick range is configurable at the contract level.
+  * **Trailing Drawdown (PropFirm Account Rules)**
+    * Accounts configured with [[administration:propfirm_rules|PropFirm Account Rules]] are auto liquidated when the account’s net liquidation value falls to its trailing-drawdown floor. The breach also cancels all working orders and disables the account; re-arming requires an epoch bump — see the PropFirm Account Rules page.
 ====== Firm Level Auto Liquidation Settings ======
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 ====== General Notes ======
+<note tip>
   * If auto liquidation flattens a position in a market, it will also cancel all working orders in that market.
   * If auto liquidation cancels any working orders in a market, it will cancel all other working orders in that market and flatten the position in that market, if present.
@@ Line 62: / Line 62: @@
   * If a market is closed, we will not attempt to liquidate it. We will continue to charge the account the full (initial) margin until the market re-opens.
+</note>