| | Limit Order Timing and Other Options | |
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Click here
for expanded Limit Order Entry screen
The Timing of a limit order is chosen on a pull-down menu:
| Day Only |
If the order is not filled by the end of the day, it is canceled.
Fill or Kill. If the order is not filled immediately and in its
entirety, it is canceled. |
| Good Until Canceled |
The order is kept in the system for 30 days or until it is executed.
If the order has not been executed in 30 days you will receive a
message requesting you to leave or cancel the order. (See Do Not
Reduce below.) |
| Immediate or Cancel |
If the order is not executed immediately, it is canceled. If part
of the order is executed immediately, the remainder of the order is
canceled. |
Any or all of three order options may be chosen.
| All or None |
The order must be executed in its entirety or not at all. Can
be used with Day Only or Good Until Canceled. |
| Do Not Reduce |
This option causes the ex-dividend dates of the stocks that comprise
an order to have no effect on an orders limit price. If the box is
not checked (default), then on an ex-dividend date the stocks
per-share limit price is reduced or the debit/credit limit for the
order is changed to reflect the ex-dividend amount. Example. Stock
XYZ goes ex-dividend in the amount of $0.10 on day T. All per-share
limit prices for XYZ are reduced by 0.10 as of the beginning of the
trading day on day T, unless the Do Not Reduce option is selected.
Also, all debit/credit limits are raised(lowered) by $0.10 times the
number of shares of XYZ being sold(bought). |
| Minimum Sell Side Shares |
A trade may not take place unless at least the indicated number of
sell-side shares (and the prorata portion of buy-side shares) is
executed in one trade. After the minimum number of shares has been
traded, the rest of the order has no minimum. |
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| |                  | All material herein copyright © 2000 - 2004, BarterSecurities, Inc. All rights reserved. BarterSecurities is a service mark of BarterSecurities, Inc. Patents pending. |
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