O R D
E R T Y P E S
|
EXCHANGE
|
MARKET
|
LIMIT
|
MIT
|
STOP
|
STOP
LIMIT
|
STOP
CLOSE
|
MOO
|
MOC
|
FILL
OR
KILL
|
OCO
|
SPREAD
|
CBOT
|
YES
|
YES
|
YES
|
YES
|
YES
|
||||||
CME
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
IOM
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
IMM
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
COMEX
|
YES
|
YES
|
YES
|
* YES
|
YES
|
YES
|
** YES
|
||||
NYCE
|
YES
|
YES
|
YES
|
YES
|
YES
|
*** YES
|
|||||
CSC
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
NYM
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
NYFE
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
KCBT
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
MGE
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
YES
|
* Gold, Silver
|
Stop Limits
are accepted only on a not-held basis
|
** Copper
|
OCO orders are
acceptable only if the second half of the order is a MOC
|
*** Cotton, OJ, Dollar
Index
|
OCO orders are
acceptable only if the second half of the order is a MOC
|
ORDER TYPE
|
DESCRIPTION
|
MARKET
|
Most frequently
used order type. Executed at the best possible price obtainable at the
time the order reaches the trading pit.
|
LIMIT
|
Buy or sell at a
designated price. In most instances, a market needs to trade at least tick
better than the designated price to be filled. If the market trades at the designated limit
price, a fill is not guaranteed.
|
MIT
|
Similar to a limit
order, except that once the designated price is touched, this order
becomes a market order.
|
STOP
|
Similar to a MIT
order, except that the designated price is normally higher than the
current market price for a buy stop and lower than the current market price for a sell stop.
|
STOP LIMIT
|
Similar to a Stop
order, but also specifies a limit price indicating a price for which you do
not want to be filled beyond.
|
STOP CLOSE ONLY
|
Similar to a Stop
order, but can only be triggered during the close of trading.
|
MOO
( Market on
Opening)
|
Executed during
the opening range at te best possible price obtainable within the
opening range.
|
MOC
(Market on
Close)
|
Executed during
the final seconds of trading at whatever price is available.
|
FILL OR KILL
|
This order instructs
the floor broker to execute an order at a designated price, and
immediately return a filled or un-filled order.
|
OCO
(One Cancels
Other)
|
A combination of
two orders written on one ticket. Once one side of the order is filled, the
remaining side of the order should be cancelled.
|
SPREAD
|
Instructs the simultaneous
purchase and sell of two different contracts or related
commodities.
|
This information is not to be construed as an
offer to sell or a solicitation or an offer to buy the commodities herein named.
The factual information of this report has been obtained from sources believed to be reliable, but is
not necessarily all-inclusive and is not
guaranteed as to the accuracy, and is not to be construed as representation by our firm. The risk of
trading futures and options can be
substantial. Each investor must consider whether this is a suitable investment. Past performance is
not indicative of future results.
|