European Brokerage · glossary
The process that sets an exchange’s first price of the day. The exchange gathers all the orders that waited overnight and sets one opening price for them. A market order placed at night takes that price, which may differ greatly from the last price the client saw. Clause 6.2 · Chapter 5 · see Market order
Explained in Chapter 5, Best Execution: Orders and the Execution Policy, of European Brokerage.
An order placed at night waits for the exchange to open. In the opening auction, the exchange gathers all the orders that waited and sets one opening price for them. That price can differ greatly from the last price the client saw, and a market order takes it whatever it is.Read Chapter 5, Best Execution: Orders and the Execution Policy →
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