A Stop order will be converted into a Market order in the order book once the target price (Stop price) as specified by the investor has been met.
The Stop order entry criteria will be as below: -
- Buy Order - Stop Price must be higher than Ask Price
- Sell Order - Stop Price must be lower than Bid Price
The Stop Order will be triggered when:
- Buy Order Price > Stop Price ≥ Best Ask Price
- Sell Order Price > Stop Price ≤ Best Bid Price
Note:
1. Market Order and the transacted price may be quite different from the intended price, especially in a fast-moving market or in poor liquidity stock.
2. Additional Purchasing Power of 5% is required to cater for price uncertainty. Unused Purchasing Power on-hold will be released immediately once the order is filled.