Skip to content Skip to sidebar Skip to footer

Order Types - Help - Tiger Exchange

Order Types - Help  - Tiger Exchange


Unfilled or partially stuffed Limit Orders can be cancelled or changed

Amysite - Unfilled or partially crammed Limit Orders can be cancelled or changed via the patron. Cancellation or amendment requests may be rejected if the Limit Orders are absolutely stuffed in the course of the system.

Day: Unfilled orders will automatically be cancelled on the end of the trading session.

GTC (Good till Cancel): The order will stay valid until it's far completely stuffed or cancelled(mechanically/voluntarily).

Please observe that GTC orders will robotically be cancelled under the subsequent conditions:

If the order isn't always stuffed after 90 calendar days;

For GTC Order of Futures,the order will mechanically be cancelled at the last trading day or three buying and selling days prior to the outlet day, dependent on the kind of Futures contract and the Direction of the Order.

For GTC Order of Stocks, ought to company actions (stock cut up, reverse stock break up, merger and dividend) arise, the order will automatically be cancelled before the market opens at the execution date of company action.

Statement of order coping with the use of fee capping

In accordance with regulatory responsibilities that the agents are predicted to have sure controls in vicinity to prevent orders with market disruption risks (such as sudden fee fluctuations) from being submitted to the market, the executing brokers can also set fee caps on purchase orders and fee floors on promote orders.

Please be aware that at the same time as such fee limits are set to maximize order execution while minimizing fee chance, there exists a opportunity that a trade might be delayed or may not take area.

Market Order ("MO") is an order positioned without price putting by using clients themselves at triumphing market expenses. MO enables the orders to be crammed speedy, but cannot assure the execution price. For illiquid stocks, or for a quick-changing marketplace, MOs may be stuffed at charges that are a lot better or decrease. Please verify the risks cautiously earlier than placing an order. 

MOs can best be located for the duration of the ordinary trading hours;

When the MO is positioned, the system will earmark a portion of the purchasing strength to facilitate the successful execution of the orders as well as hold a solid hazard control value for the account. After the order is filled or cancelled, the earmarked buying strength will then be routinely released.

Since market orders and orders that rely upon marketplace orders (which include stop-loss orders) can not assure the transaction charge, marketplace systems that do not aid market orders will robotically convert market orders into price orders (there may be a 20% charge restrict for starting orders) to assist buffer any drastic price fluctuation.

Limit Order ("LO") is an order to be stuffed at a targeted charge or better.

The range of transaction charge  may be locked in with out a guarantee.

However, if LO is used, the marketplace possibility to fill the order may be neglected. If the inventory fee does no longer reach or drop to the restrict price, the order will now not be finished.

A stop loss order is a marketplace order this is placed mechanically by using the device to provoke a buy or a sell order based totally at the route decided on with the aid of customers as soon as the inventory fee has reached or breached a particular charge (the “stop price”) set by way of customers. 

There is not any guarantee that the order could be correctly located and stuffed. Insufficient shopping power or positions may additionally bring about failure of the order to be precipitated. 

The order is prompted does no longer necessarily imply that it'll be filled. The stop loss order is the market order which the machine automatically locations for investors while the cause fee(stop price) is reached. If the order isn't always matched, it'll mechanically be cancelled at the give up of the marketplace day (except GTC orders).

Q & A with forestall loss orders:

-Q: Can a forestall loss order be used to take profits? For instance, you entered a function at USD 50 and need to area the market order to shut off the location while the fee of the underlying reaches USD 60. If so is it appropriate to location a stop loss sell order with a forestall loss fee of USD 60?

A: No. The above scenario will bring about the stop loss order to be done right away as the modern fee of the underlying is decrease than USD 60.

-Q: What is the ideal order to use which will take income while the underlying reaches USD 60?

A: You can region a restrict order to promote at USD 60, on this way the promote order will be accomplished at USD 60 or higher.

-Q: Can I vicinity a stop loss order after I do now not have corresponding positions? Are there any impacts?

A: Yes. Usually a prevent loss order is a pending order whilst there are corresponding positions so one can restrict losses. Even if there aren't any corresponding positions, you may still region a stop loss order. In this manner, the only stop loss order can, to a certain degree, breach the monitoring of precise trading price.

For example, the cutting-edge traded rate for contract A is USD three,500, and the investor anticipates that after the agreement rate falls under the key guide region of USD three,000, its charge will preserve to fall, therefore he/she would really like to initiate a quick function. In this case, the investor can location a stop loss promote order with a stop loss fee of USD 3,000 without conserving any positions of the underlying protection. This could also imply that after the rate of settlement A reaches USD 3,000 or much less, the machine will place a market promote order for the contract and as a result the investor might have opened a quick role on contract A.

Key critical element for the investor to take note of is that, as this is a stop loss order,a market order can be brought on as soon as the underlying reaches or breaches the "forestall price". Clients will now not have manage over the fee of which the contract could be carried out.

Stop Limit Order requires the customers to go into a certain stop charge and a certain restrict rate. Once the inventory rate reaches the stop rate, a restrict order could be routinely initiated.

Stop restrict orders might be placed inside the shape of restrict orders, which  allow the buyers to get their orders executed at a extra favourable charge. However, if the price falls speedy below the limit fee, the order might not be crammed. Stop restriction orders can be limited to positive securities.

The distinction among a stop order and a stop restriction order:

Both the forestall order and the stop restriction order are filled whilst the marketplace charge reaches the prevent loss fee, but the tactics how they cause the orders are exceptional.

The prevent order will ensure that the order can be crammed as quick as viable through the form of marketplace orders. However, it does not assure the price of which the order may be crammed. 

Stop restriction orders, then again, will provoke limit orders after the forestall restriction has been brought on. This lets in the order brought about to be stuffed at a charge that is same to or higher than the limit rate set by the customers. There is not any assure that the order can be stuffed.

For a buy alternate, the restriction fee have to be extra than the prevent price and the prevent rate have to be better than the remaining traded charge.

For a promote alternate, the restriction rate ought to be lower than the forestall loss charge and the prevent loss charge ought to be lower than the ultimate traded price.

A investor buys 1 lot of X settlement at USD 1,000 and wants to manage the maximum loss at USD a hundred. He/she will be able to provoke a stop restriction order with a stop price of USD 910 and a restriction price of USD 900. Once the rate of the X contract drops to USD 910, a promote order for X settlement with a restrict rate of USD 900 will be brought on.

Conditional Order: Clients are required to set the cause situations. Once the trigger conditions are met, the entrusted order (either market order or restrict fee order) will be initiated. Clients can make modifications and cancellation to the trigger conditions as long as the trigger condition isn't always met. 

Conditional order will best be triggered during regular buying and selling hours (except Hong Kong shares auction period). When a pre-marketplace conditional order is located, the entrusted order will handiest be precipitated once the conditions are met at some point of regular trading hours.

 If the conditional individual decided on is <=, the cause rate need to be lower than the last traded charge (prompted higher than the closing price);

 If the conditional individual is selected >=, the cause charge have to be better than the ultimate traded fee (caused lower than the closing charge)

Prior to the order being brought on, you can cancel the order or regulate the trigger situation, order price, and order quantity.

Adjustments and withdrawal of the order that was brought about upon met situations that changed into set can nevertheless be made as long as the said order isn't always filled.

Post a Comment for "Order Types - Help - Tiger Exchange"