Trading order placed by the Exchange member at the Exchange on its own behalf, and for the account of the client, may be placed exclusively based on the order of the client, i.e. the person authorisedby the client for issuing trading orders on behalf and for the account of the client.
Trading order of the Exchange member shall be immediately placed at the Exchange, upon verification of the client’s order coverage in line with the Rules of the stock exchange, should stock exchange meeting regarding securities be in progress at the moment of receiving the order, i.e. at the next stock exchange meeting, unless otherwise stipulated in the trading order by the client.
The Exchange member is obliged to issue orders of clients at the Exchange in the order determined by the acts of the Exchange member, unless otherwise stipulated by the Rules of the stock exchange.
The following TYPES OF TRADING ORDERS may be placed at present by the Exchange members in the course of trading securities:
a) according to the size:
- individual client order,
- collective order;
b) according to the transaction type:
c) according to the period of duration:
- from a day, for the duration of not longer than 90 days,
- until cancelled–for the duration of 90 days;
d) according to the price:
- limit of the order,
- market order which according to the duration period can only be - daily;
e) orderof withdrawal;
- order for modification of the order placed in BelexFix,
- market maker order,
- block trading order.
Types and method of issuing trading orders which can be placed by the Exchange member at the Exchange depend on the type of securities, method of trading, trading stage and other conditions.
Limit orders can be in one of the following statuses:
a) active – limit orders which contain the price within determinedfluctuation zone, or
b) non-active – limit orders which contain the price beyond determined fluctuation zone.
Market orders can only and exclusively have an active status.