Stop order will be converted into an actual Market order in the order book once the target price (Stop price) as specified by the investor has been met.

Order entry criteria:
Buy > Stop Price must be more than Ask Price
Sell > Stop Price must be less than Bid Price

Note: 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.

*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.

Stop-limit orders will be converted into a Limit order in the order book once the target price (Stop price) as specified by the investor has been met. Therefore, it has two components: the stop price and the limit price.

Price Triggered Orders (“PTOs”) allow market participants to buy or sell an instrument when the trigger price condition is reached.

• PTOs can only be entered, modified, cancelled and triggered during Open phase.
• PTOs cannot be entered, modified, cancelled and triggered during a trading halt.
• It is not visible to the market before it is converted to the specific order.
• Once the price meets the condition that was set up, the Price Triggered Order will be converted to an active tradable order.
• PTOs can be entered with any order type and validity for the to-be-triggered order. However, validation of the allowable order type and validity for the to-be-triggered order will be done upon activation of the order.
• PTOs not activated by end of the trading day will be automatically deleted from the system. This means there are no long dated PTOs.

a) Trigger Price Type: Best Bid / Best Ask / Last Done.
b) Trigger Direction: Greater than or Equal (≥) / Less than or Equal (≤).
c) Trigger Price.

Price Triggered Orders benefit investors by allowing them to trade without having to constantly monitor market movements.

PTOs can be used to:
a) Minimize a loss or protect a profit on an existing long position.

Generally used as a protection against runaway prices. For instance, in a falling market, an investor who is long on a stock may want to enter a PTO which will likely limit the losses faced.

Example:
An investor bought 100 shares at $13 and wishes to limit his loss by placing a Market order to Sell his shares when the price ≤ $10.

b) Initiate a new long position.
PTOs are useful for breakout trades where an investor wants his order executed only if the market trades past a particular price (i.e. resistance).

Example:
The price of a share is $30 and the investor is planning to place a GTD limit order to buy at $31 if the last done price ≥ $31.

• Trigger price can be triggered by short term fluctuation in a stock’s price.
• For PTO market orders, once the trigger price is reached, the order will be converted into a market order. The transacted price can be different from the intended price especially in a low liquidity environment. Additional Purchasing Power of 3% is required to cater for price uncertainty. Unused Purchasing Power on-hold will be released immediately once the order is filled.
• Limit price has to be within 30 bids of the Trigger Price

* Price triggered orders resulting in market orders or limit orders that are outside the closing auction price will be rejected
* Price triggered orders not activated by end of the trading day will be automatically deleted from the system. This means there are no long dated PTOs (not even when it’s placed under GTD).
* Price triggered orders that got activated may turn into a Day/GTD limit order.