Types of Securities Trading Orders

1. At-the-Opening (ATO) Order:

• An order to buy or sell securities at the opening price. ATO orders have priority over limit orders when matching trades.
• During the regular opening price matching session, the trade price cannot be determined if there are only ATO orders in the order book.
• ATO orders are entered into the trading system during the matching period to establish the opening price and are automatically canceled if not executed or fully executed after the opening price determination time.

2. Limit Order (LO):

• A buy or sell order for securities at a specified or better price, effective from the time of entry into the trading system until the end of the trading day or until canceled.

3. Market Price Order on HSX (MP):

• A buy/sell order for securities at the lowest selling price/highest buying price currently available in the market.
• A buy MP order is executed immediately at the lowest selling price, and a sell MP order is executed immediately at the highest buying price in the market upon entry into the trading system. If the order quantity of the MP order isn’t fully executed, it becomes a buy order at a higher selling price or a sell order at a lower buying price available in the market, continuing to match.
• If there is order quantity remaining after trading (according to the above principle), and further matching is impossible, the MP order will be converted into a limit order to buy at a price higher by one trading unit compared to the last executed price, or a limit order to sell at a price lower by one trading unit compared to the last executed price.
• In the case where the last executed price is the ceiling price for a buy MP order or the floor price for a sell MP order, the market order will be converted into a limit buy order at the ceiling price or a limit sell order at the floor price.
• MP orders are valid during the continuous matching session.
• MP orders will be automatically cancelled if there is no corresponding limit order at the time of order entry into the trading system.
• For foreign investors, if a partial fill occurs for a buy MP order and there is no available room for the remaining portion of the order, it will be automatically cancelled.

5. Conditional Order (Waiting Order):

• A limit order that remains active for multiple days until the order is matched or until the customer’s selected time expires without being matched.
• During the order’s active period, on the trading day, the order will be automatically placed on the market if:
• The price is within the price limit.
• Other conditions of a regular order are met (buying power, quantity, etc.).
• The order can be partially matched, and the remaining part will still be valid.

6. At-the-Close (ATC) Order:

• An order to buy or sell securities at the closing price. ATC orders are given priority over limit orders when matching trades.
• During the regular closing price matching session, the trade price cannot be determined if there are only ATC orders in the order book.
• The order will be automatically canceled at the end of the session if the order is not executed or not fully executed.

7. Post-Market Late Order (PLO):

• A PLO order is a buy or sell order for securities at the closing price after the regular market trading session ends.
• PLO orders can only be entered into the system during the after-market trading session.
• PLO orders are matched immediately upon entry into the system if there is a corresponding pending order. The execution price is the closing price of the trading day.
• PLO orders are not allowed to be modified or cancelled.
• In cases where the execution price cannot be determined during the continuous trading session and the closing auction, PLO orders will not be accepted into the system.