wide variety of
‍order types

Mexem provides an extensive array of order types and enhancements, simplifying the trading and funding landscape. Key features include limit orders, which define the minimum selling price and maximum purchasing price, as well as stop orders that help limit losses.

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Order Types

Tap into an extensive assortment of over 100 order types and add-ons for a tailored trading experience.

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WHAT TYPES OF ORDERS CAN BE PLACED WITH MEXEM?

Below, you'll find a comprehensive list of all the order types that can be executed through the Mexem platform.

All-or-none

An "All or None" (AON) order will stay unfilled both at the stock exchange and within the order system until the complete desired quantity of shares is available.

At Auction

This order is initially submitted to the exchange as a pre-trade order, utilizing the calculated opening price. Should the order fail to execute, it will be re-submitted either as a fresh limit order or be transmitted to the market with improved bid/ask prices.

Auction

Under certain conditions, this order will be sent to the price improvement auction at the Boston Stock Exchange, adhering to their price and volume guidelines.

Balance Impact and Risk

This algorithm assesses the impact of an option order on the market, effectively managing the risk of price fluctuations during the order's execution. Moreover, the system incorporates the user-defined urgency/risk factor and the maximum percentage value of the daily volume.

Basket

Numerous diverse orders are stored together in a single file and then transmitted as a bundle.

Block

A limit order with a substantial volume, where the minimum order size is set at 50 contracts.

Box-Top

An automatic market order that converts into a limit order if it is not executed immediately at the market price.

Bracket

This order is designed to restrict potential losses and safeguard profits. Each order is accompanied by both a stop and limit order, with the same quantity as the original order, to either supplement or restrict its execution.

Conditional

This order will be executed once the market reaches the specific price range you have specified.

Discretionary

A discretionary order is a type of limit order where you predefine a specific amount that extends the execution range for the corresponding quantity. Execution is only possible after the discretionary amount has been considered. However, at the market, only the original limit price is visible.

Fill-or-Kill

A Fill or Kill (FOK) order must be executed immediately on the market as soon as it becomes available; otherwise, it will be instantly removed.

Good-after-Time/Date

A Good After Time (GAT) order is initially held by the system and subsequently sent to the market at a user-defined date and time.

Good-till-Canceled

The Good 'Til Cancelled (GTC) order remains in the market until it is either executed or manually removed by the trader at a specific date, usually at market close.

Good-till-Date/Time

The Good 'Til Date (GTD) order remains in the market until it is either executed or expires on a specific date, typically at market close.

Hidden

A hidden order, typically with a high order volume, cannot be deduced from the market data or the order book.

Iceberg/Reserve

An Iceberg or Reserve order allows you to submit an order, usually with a large order volume, that is not entirely visible on the market.

Immediate-or-Cancel

Any portion of an IOC (Immediate or Cancel) order that is not executed as soon as it reaches the market will be instantly deleted.

Limit

A limit order is an instruction to buy or sell a share at a predetermined price.

Limit-if-Touched (LIT)

An LIT order is a specific type of order used to buy or sell contracts either below or above the current market price. This order remains in the system until the trigger price is reached, at which point it is then sent to the market as a limit order.

Limit-on-Close

An LOC (Limit on Close) order is executed if the closing price is equal to or better than the specified limit price of the order, provided that it is supported by the respective exchange. If the condition is not met, the order will be deleted.

Limit-on-Open

A LOO (Limit on Open) order is a type of limit order that is executed when it reaches the specified limit price or a better price at the beginning of the market session.

Market

A market order allows a trader to buy or sell at the best price currently available in the market.

Market-if-Touched (MIT)

An MIT (Market If Touched) order is a type of order used to buy or sell securities either below or above the current market price. This order remains in the system until the trigger price is reached, at which point it is then sent to the market as a market order.

Market-on-Close

A market order that is executed to achieve a price as close as possible to the closing price of the day.

Market-on-Open

A market order that is automatically sent at the beginning of the market session and is executed at the prevailing price.

Market-to-Limit

An MTL (Market to Limit) order is initially submitted to the exchange as a market order. In case of partial execution, the remaining portion of the order is first canceled and then re-submitted to the market as a limit order. The limit price for this new order is set to be the same as the price at which the executed portion of the order was filled.

Market-with-Protection

An MWP (Market with Protection) order is a type of market order that, if not executed at the market price, is immediately canceled and re-sent as a limit order. The limit price is determined by the exchange and is set to be close to the current market price, slightly higher for a sell order and lower for a buy order. This mechanism offers protection against unfavorable price fluctuations when the market order cannot be executed at the desired price.

Midpoint Match (MPM)

An MPM (Midpoint Pegged to Market) stock order will be executed only at the midpoint between the bid and ask prices in the market.

One-cancels-All (OCA)

If an order that belongs to a group of One-Cancels-All orders is executed, all other orders in the same group are deleted.

Pegged-to-Market

An order specialized in buying at the best available bid price and selling at the best available ask price.

Pegged-to-Stock

An order designed to automatically adjust the option price when the share price changes, according to the specific instructions provided by the clients.

Percent of Volume

This algorithm allows you to participate with a predetermined percentage of the total exchange trading volume.

Relative

A relative order derives its price from a combination of the market price and an offset amount specified by the customer. Initially, the order is sent as a limit order and subsequently adjusted based on the price strategy until it is either executed or canceled by the customer.

Request-for-Quote

Option price request for Non-US options, futures and options and futures.

Scale

The scale order direction automatically generates a series of buy (or sell) limit orders, with each order having decreasing (or increasing) prices, in relation to the client's original limit order.

Spreads

A spread order is a trading strategy that combines multiple individual orders, known as "legs," into a single cohesive trade. This strategy may include a combination of stocks, options, and future legs, forming a unified spread.

Stop

A stop order is an instruction given to a broker to buy or sell shares once the price crosses a predefined entry or exit point.

Stop - Adjustable

You can apply a one-time adjustment to a stop, stop limit, trailing stop, and trailing stop limit order to modify the stop trigger price, the trailing amount, and consequently, the stop limit price. This adjustment allows you to fine-tune the execution of these types of orders based on your specific preferences and market conditions.

Stop - Limit

A stop-limit order transforms into a limit order when the designated stop price is reached or surpassed. At that point, the order is executed as a limit order at the specified limit price or better.

Trailing Stop

A trailing stop for a sell order sets the stop price at a fixed amount below the market price, maintaining a certain distance.

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If the market price increases, the stop price moves up by the same trail amount, keeping the distance intact. However, if the market price decreases, the stop loss price remains unchanged.

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Trailing stops for buy orders operate in a similar manner, adjusting the stop price with the market movement but in the opposite direction.

Trailing Stop Limit

A trailing stop-limit order for a stock sale sets the stop price using a fixed amount below the current market price and specifies a limit price for the order.

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As the market prices rise, the stop loss price is adjusted upwards by the same fixed amount. However, if the share price falls, the stop loss remains unchanged.

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When the order is triggered, a limit order is sent to the market at a strike price pre-defined by the customer. The same mechanism works in reverse for a trailing stop-buy order.

Sweep-to-Fill

A sweep-to-fill order identifies the best price and the exact quantity available at that specific price.

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The corresponding portion of the order is then immediately transmitted to the exchange for execution.

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Simultaneously, the next best price and the corresponding quantity available are identified, and the relevant part of the order is also transmitted without delay.

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This process continues until the entire order is executed. The goal of the sweep-to-fill order is to execute the trade as quickly as possible by capturing the available liquidity at different price levels.

Volatility

An order whose limit price of the option or the combination is determined as a function of the implied volatility.

VWAP - guaranteed

The Volume Weighted Average Price (VWAP) for a share is calculated by summing up the products of the price and the number of shares traded in each transaction and then dividing by the total volume of shares traded.

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In the standard method, the VWAP order is computed from the market's opening to its closing by volume-weighting all transactions executed within this time frame.

VWAP - best

This algorithm aims to achieve the best possible Volume Weighted Average Price (VWAP) without surpassing the maximum percentage of the daily exchange trading volume, as defined by the user.

FAQS

Have questions?
Check our frequently asked questions below

What is a limit order, and how does it work?

A limit order is an instruction to buy or sell a security at a specified price or better.

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It allows traders to set a specific price at which they are willing to buy or sell, providing control over the execution price.

What is the difference between a market order and a limit order?

A market order is an instruction to buy or sell a security at the current market price.

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It prioritizes speed of execution but does not guarantee a specific price.

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In contrast, a limit order specifies a price at which the trader is willing to buy or sell, but it may not be executed if the market price does not reach the limit.

What is a stop-loss order, and how can it help manage risk?

A stop-loss order is designed to limit potential losses by automatically triggering a market order to sell a security when its price falls to a specific level.

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It can be an essential risk management tool, as it helps protect against significant declines in asset value.

How does a trailing stop order work, and when is it used?

A trailing stop order is a dynamic stop-loss strategy that adjusts the stop price based on the market's movement.

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It follows the market price in the direction specified (up or down) by a predefined "trailing" amount. Trailing stops are commonly used to lock in profits while still allowing for potential further gains.

What is a One-Cancels-All (OCA) order, and how can it simplify trading multiple positions?

An OCA order groups multiple orders together, allowing one execution to automatically cancel the others.

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Traders can use OCA orders to manage multiple positions simultaneously, ensuring that if one order is filled, the others are automatically canceled, streamlining their trading strategy.

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wide variety of ‍order types

WHAT TYPES OF ORDERS CAN BE PLACED WITH MEXEM?

FAQS

Ready to get started?

wide variety of
‍order types