Examples of Continuous Trading in a sentence
Continuous Trading • Orders can be entered, maintained, modified and deleted.• Trading takes place on a continuous basis.• Each incoming order are checked immediately for possible execution.• Unexecuted portion of such order is added to the order book.• Matched trades can be viewed on Broker Front End.• Matching will be based on Price and Time Priority.• Opening match is calculated without implied orders.
If at the start of the Continuous Trading phase the Electronic Book contains Orders from other Members in the security that improve the prices of the Market Maker’s Orders, the latter will be able to modify the buy and sell prices of its Orders providing they fall within the maximum spread established by the BMV for the security in which it is acting as such.
During the opening auction, in the scenario where a Member has an Order that surpasses the pre-trade filter previously defined and wishes it´s registration in the Electronic Book, the Trader or Responsible of the Broker-Dealer´s Trading Desk, will have to request the BMV´s Operations Control to temporarily eliminate the price or traded value filter for a specific security, which will remain deactivated until the Continuous Trading of said security begins.
In order to establish the maximum price, spread between the buy and sell Orders the Market Maker enters into the Electronic Trading System at the start of the Continuous Trading phase for each security in which it is acting as such, the Market Maker will use as reference price: 1.
In order to establish the maximum price, spread between the buy and sell Orders the Market Maker enters into the Electronic Trading System during the remainder of the Continuous Trading phase for each security in which it is acting as such, the Market Maker will use as reference price for each security the price of whichever of its Orders was first entered into the Electronic Trading System in terms of time.