Kindly be informed that the Company’s Order Execution Policy has been updated and is effective from 1st of August 2022. The change is related to the clients’ stop orders which were triggered by the National Best Bid/Offer (NBBO) prices quoted in the system. Starting from 1st of August 2022, the stop order will be triggered by the last trade price quoted in the system.
For example: A client is in a long position and placed a stop order at 408.88 USD to exit. The current last price is 408.94 USD and the NBBO (National best bid and offer) for sale is at 408.88 USD. Before the amendments by the Company, the stop order would be triggered immediately as the NBBO reached the stop price, and the position would be closed.
With the current amendments by the Company, the client would still retain his position since the last trading price is 408.94 and it did not reach the Stop price yet.
Only when last price reaches 408.88 USD, or below, the position will be closed by the stop order.
Please review the updated document which is uploaded on our website, under the Regulatory Documents section on Legal Documentation subsection or click here.
For any questions, please contact us by email at: [email protected].
Colmex Pro Team