Page 39 - Trading #101 Course – Part One: Trading Basics

TRADING #101 COURSE – PART ONE: TRADING BASICS /2017-10-06

• Good ‘till Date Order (GTD). This order will remain working with the
broker system and in the marketplace until it fills or until the close of
the market on the date specified.

• Immediate or Cancel Order (IOC). Order will be immediately filled or
it will be cancelled by the exchange. Unlike a Fill or Kill Order,
Immediate Or Cancel Orders allow for partial fills.

• Fill Or Kill Order (FOK). This type of order is usually a Limit Order
that must be filled or cancelled immediately. Unlike Immediate or
Cancel Orders, Fill Or Kill Orders require the full quantity to be filled.

• Market on Close (MOC). A Market Order that is submitted to fill as
close to the closing price as possible.

• Market on Open (MOO). A Market Order that is filled at the market’s
open at the market price.

• Limit on Close (LOC). This Limit Order is filled at the closing price if
the closing price is equal to or better than the Limit Price, according to
the rules of the specific exchange. There is often some deadline; for
example, orders must be in 20 minutes before the auction.

• Limit on Open (LOO). This Limit Order is executed at the market’s
open if the opening price is equal to or better than the Limit Price.
There is often some deadline; for example, orders must be in 20
minutes before the auction.

• Pegged to Market. An order that is pegged to buy on the best offer
and sell o the best bid.

• Privacy order types which keep your strategies hidden from the
market:

• Hidden Order. Generally, a large volume order that shows no
evidence of its existence in either the market data or the deep book.

• Iceberg Order. An order that allows you to submit an order, generally
a large volume order, while publicly disclosing only a portion of the
submitted order.

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