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Trading Rules & Methods

Order Types

The most liquid securities are traded continuously throughout the day, while less liquid securities are traded in auctions. Orders are executed in the order of price-time priority.

The different order types available are the following:

Limit Order

The buyer specifies a maximum price and the seller a minimum price

Market order

No price limit
Matches best prices until full execution
After partial execution ranked at the top of order book without price

Market to Limit Order

Entered during continuous phase without indication of price
Becomes a limit order at the best offer if buy order, or at the best bid if sell order

Market on Opening Order

Entered only in the pre-opening phase
Executed at the opening price
Becomes limit order at the opening price if partially executed in the opening auction

Stop Limit Order

Becomes limit order when trigger price is reached

Stop Loss Market Order

Becomes market order when trigger price is reached