Common use of Order characteristics Clause in Contracts

Order characteristics. (a) Where Trading System functionality and the Product Specification for a Product allow, a Trading Participant will be able to specify characteristics of Orders. (b) Characteristics of Orders comprise the following: (i) where the Order permits partial acceptance, the minimum Transaction Quantity for Transactions formed as a result of partial acceptance, which, unless otherwise specified in the Product Specification, is taken to be one Parcel Size; (ii) the expiry time for the Order, being the time at which the Order is to be withdrawn or cancelled automatically, expressed either in terms of a number of Gas Days, or the time during a Gas Day when the Order expires; (iii) whether the total Order Quantity is to be displayed at the same time, or whether part of the Order Quantity is to be withheld from display until the part which is displayed has been accepted; and the increments in which the Order Quantity should be displayed (each at least equal to the Parcel Size for the Product). (c) An Order that does not permit partial acceptance may be accepted only in its entirety. (d) An Order is open when it has been submitted and has neither been cancelled nor accepted in full. (e) Unless otherwise specified in the relevant Product Specification, an open Order will be withdrawn automatically at the end of each trading day after 7:00 pm. (f) An Order will expire (and will be withdrawn or cancelled automatically) at the close of the Trading Window for the Product to which the Order relates or at any earlier expiry time specified in the Order.

Order characteristics. (a) Where Trading System functionality and the Product Specification for a Product allow, a Trading Participant will be able to specify characteristics of Orders. (b) Characteristics of Orders comprise the following: (i) where the Order permits partial acceptance, the minimum Transaction Quantity for Transactions formed as a result of partial acceptance, which, unless otherwise specified in the Product Specification, is taken to be one Parcel Size; (ii) the expiry time for the Order, being the time at which the Order is to be withdrawn or cancelled automatically, expressed either in terms of a number of Gas Days, or the time during a Gas Day when the Order expires; (iii) whether the total Order Quantity is to be displayed at the same time, or whether part of the Order Quantity is to be withheld from display until the part which is displayed has been accepted; and the increments theincrements in which the Order Quantity should be displayed (each at least equal to the Parcel Size for the Product). (c) An Order that does not permit partial acceptance may be accepted only in its entirety. (d) An Order is open when it has been submitted and has neither been cancelled nor accepted in full. (e) Unless otherwise specified in the relevant Product Specification, an open Order will be withdrawn automatically at the end of each trading day after 7:00 pm. (f) An Order will expire (and will be withdrawn or cancelled automatically) at the close of the Trading Window for the Product to which the Order relates or at any earlier expiry time specified in the Order.

Order characteristics. (a) Where Trading System functionality and the Product Specification for a Product allow, a Trading Participant will be able to specify characteristics of Orders. (b) Characteristics of Orders comprise the following: (i) where the Order permits partial acceptance, the minimum Transaction Quantity for Transactions formed as a result of partial acceptance, which, unless otherwise specified in the Product Specification, is taken to be one Parcel Size; (ii) the expiry time for the Order, being the time at which the Order is to be withdrawn or cancelled automatically, expressed either in terms of a number of Gas Days, or the time during a Gas Day when the Order expires; (iii) whether the total Order Quantity is to be displayed at the same time, or whether part of the Order Quantity is to be withheld from display until the part which is displayed has been accepted; and the increments in which the Order Quantity should be displayed (each at least equal to the Parcel Size for the Product). (c) An Order that does not permit partial acceptance may be accepted only in its entirety. (d) An Order is open when it has been submitted and has neither been cancelled nor accepted in full. (e) Unless otherwise specified in the relevant Product Specification, an open Order will be withdrawn automatically at the end of each trading day after 7:00 pm5:00pm. (f) An Order will expire (and will be withdrawn or cancelled automatically) at the close of the Trading Window for the Product to which the Order relates or at any earlier expiry time specified in the Order.