Order Types Available Clause Samples
Order Types Available. 2.1. Tera’s online trading works with one order type: Fill or Kill (market) order. Where market pricing may be outside of the indicative bid/offer price due to a lack of liquidity orders may be routed to market as aggressive limit orders. This will provide some protection from negative slippage but may introduce the risk that the order will not be filled if the market moves sharply.
2.2. Tera’s offline trading, for specific bonds, allows the client to place an OTC limit order. In this case ▇▇▇▇ works the limit order manually on a best effort basis, versus ▇▇▇▇’s counterparties’ liquidity and follows the rules for offline trading as described below.
Order Types Available. (a) Market Order - Is an instruction to buy or sell at the next available market price. Please note that pursuant to market conditions there may be a difference between the price selected on the Trading System and the final execution price received. This difference may be less favourable or more favourable than the original quoted price and is a function of market liquidity.
(b) Limit Order - Is an instruction to buy or sell at your specified price or better and may be used to either open or close a position. Please note that a limit order maybe triggered by the market trading through, or gapping over, your specified price. In the event that market conditions trigger a client's limit order for execution it may only execute at a price equal to or better than a client's specified rate. Limits order guarantees price but does not guarantee execution.
(c) A limit order to buy at a price below the prevailing market price will be executed at a price equal to or less than the specified price.
(d) A limit order to sell at a price above the prevailing market price will be executed at a price equal to or more than the specified price.
(e) Stop Order - A stop order is an order to buy or sell at a specified price and may be used to open or close a position. Please note that a stop order may be triggered by the market trading through, or gapping over a specified price. In the event that market conditions trigger a stop order for execution it will become a market order upon execution. This means that your final execution price may be less favourable or more favourable depending on market conditions. Stop orders guarantee execution but does not guarantee price.
(f) A stop order to buy at a price above the prevailing market price will be executed at the next available market rate, which can be less favourable, or more favourable than your specified rate.
(g) A stop order to sell at a price below the prevailing market price will be executed at the next available market rate, which can be less favourable, or more favourable than your specified rate. Registered Address: Office ▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇ ▇▇▇| ▇▇ Registered in England & Wales, Company Number 07604372 Version 2 – 03rd July 2020: Customer Agreement for Professional and Eligible Counterparty Clients page 87
(h) Trailing Stop Order - A stop order applied to an open position wherein the trader specifies the distance between the stop order and current market price. Should the market continue to m...
Order Types Available. (a) Market Order - Is an instruction to buy or sell at the next available market price. Please note that pursuant to market conditions there may be a difference between the price selected on the Trading System and the final execution price received. This difference may be less favourable or more favourable than the original quoted price and is a function of market liquidity.
(b) Limit Order - Is an instruction to buy or sell at your specified price or better and may be used to either open or close a position. Please note that a limit order maybe triggered by the market trading through, or gapping over, your specified price. In the event that market conditions trigger a client's limit order for execution it may only execute at a price equal to or better than a client's specified rate. Limits order guarantees price but does not guarantee execution.
(c) A limit order to buy at a price below the prevailing market price will be executed at a price equal to or less than the specified price. Registered Address: Office ▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇ ▇▇▇| ▇▇ Registered in England & Wales, Company Number 07604372 Version 2 – 03rd July 2020: Customer Agreement for Professional and Eligible Counterparty Clients page 85
(d) A limit order to sell at a price above the prevailing market price will be executed at a price equal to or more than the specified price.
Order Types Available. (a) Market Order - Is an instruction to buy or sell at the next available market price. Please note that pursuant to market conditions there may be a difference between the price selected on the Trading System and the final execution price received. This difference may be less favourable or more favourable than the original quoted price and is a function of market liquidity.
(b) Limit Order - Is an instruction to buy or sell at your specified price or better and may be used to either open or close a position. Please note that a limit order maybe triggered by the market trading through, or gapping over, your specified price. In the event that market conditions trigger a client's limit order for execution it may only execute at a price equal to or better than a client's specified rate. Limits order guarantees price but does not guarantee execution.
(c) A limit order to buy at a price below the prevailing market price will be executed at a price equal to or less than the specified price.
(d) A limit order to sell at a price above the prevailing market price will be executed at a price equal to or more than the specified price.