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Order Execution

* Stop Loss Orders - Execution Rules
As a rule, sell stops are filled on our bid, and buy stops are filled on our offer. This allows us to fill client stop orders at the rate they requested in almost every case. In the rare instance that the market gaps over a requested rate, the stop is filled at the best available price. This is an important point for traders who are accustomed to being filled on sell stops when the offer reaches the requested order rate. For example, if a stop order is placed to sell USD/CHF at 1.4549, the trader will be filled when the bid reaches 1.4549 (i.e. the bid/offer is 1.4549/54).

* Good Til Cancelled (GTC) Orders - Execution Rules
All GTC orders remain open until they are triggered or cancelled.

* Orders Left Over the Weekend
Orders left pending at close of trading on Friday at 1700 ET or placed over the weekend are subject to a gap open on Sunday evening when trading at 1700 ET. For both stop loss and limit orders - if your order is triggered due to news, events or other fundamental factors, it will not be executed over the weekend. Your order WILL be executed at the prevailing price when the trading desk opens Sunday. Because of the additional gap risk involved, you may want to reconsider leaving open orders over the weekend.


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