Systems Information - AEMI - Regular Order Types Browser's "Print background colors" option should be ON

Regular Orders New Orders Orders Limited to Floor Participants FAQs

 
Regular Order Types
 
This section outlines the regular order types that are available to market participants trading at Amex. Some orders may be sent only to the AEMI order book, others may be sent to either the AEMI order book or to a Broker Booth for handling by a Floor Broker.

Market
A market order may sweep the book at multiple price points until it is filled or it triggers a tolerance breach as defined in Disabling Auto-Ex. If auto-ex is disabled when the market order is entered, the order participates in the next auction unless it is an immediate-or-cancel order, in which case it expires immediately without being executed.

A Market order may be submitted by an off-floor member, a trading center (e.g. exchange, ECN) and a Floor Broker.
A Market order may be sent to the AEMI order book or to a Broker Booth.

Limit
A limit order may sweep the book at multiple price points until it is filled or it has reached its limit price or it triggers a tolerance breach. If auto-ex is disabled when the limit order is entered, the order may participate in the next auction, within the confines of its limit price, unless it is an immediate-or-cancel order, in which case it expires immediately without being executed

A Limit order may be submitted by an off-floor member, a trading center and a Floor Broker.
A Limit order may be sent to the AEMI order book or to a Broker Booth.

Stop, Stop Limit
A stop or stop limit order resides on the AEMI book until it is elected. Election occurs on a trade for equities and ETFs, but may also occur on a quote for ETFs.

A Stop or Stop Limit order may be submitted by an off-floor participant or a floor broker.
A Stop or Stop Limit order may be sent to the AEMI order book or to a Broker Booth.

Opening
An order marked for the Opening (OPG) is only eligible to participate in the opening pair-off. Any balance expires at the end of the pair-off. An order for the Opening may be a Market or a Limit order.

An Opening order may be submitted by an off-floor participant, a trading center or a Floor Broker.
An Opening order may be sent to the AEMI order book or to a Broker Booth.

Partial Round Lot
The odd lot belonging to a partial round lot order trades at the price of the first round lot of the order to which it belongs.

A Partial Round Lot order may be submitted by an off-floor participant, a trading center or a Floor Broker.
A Partial Round Lot order may be sent to the AEMI order book or to a Broker Booth.

Odd Lot
The trade size of an odd lot is limited to the size of the round lot trades that elected it. If no round lot trades within 30 seconds of a market odd lot arriving, then the odd lot will either (i) trade at the price of the adjusted ITS bid/offer for listed equities and ETFs, or (ii) trade at the qualified NBBO for Nasdaq UTP securities.

An Odd Lot order may be submitted by an off-floor participant or a floor broker.
An Odd Lot order may only be sent to the AEMI order book.

Cash Close
Cash Close orders are accepted in certain ETFs only. They participate in the cash close pair-off performed by the Specialist at 4pm.

A Cash Close order may be submitted by an off-floor participant or a Floor Broker.
A Cash Close order may be sent to the AEMI order book or to a Broker Booth.

Not Held, Prospectus, 144, 145, Company Buyback
All of these order types are orders that are directed to a Booth for manual handling by a Floor Broker. They may be submitted by off-floor participants and may only be sent to a Broker Booth.

MOC, LOC
Market on Close and Limit on Close orders participate exclusively at the closing pair-off performed by the Specialist.

MOC and LOC orders may be submitted by an off-floor participant or a Floor Broker.
MOC and LOC orders may be sent to the AEMI order book or to a Broker Booth.