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Trading
TRADING ORDERS
CSE trading system provides immense flexibility to the investors in terms of kinds of orders that can be placed to trade. The system allows the user to modify or cancel an order prior to execution.
The most frequently order on the CSE is the "limit order", which is an order to buy or sell at a specific price. Conditions related to time can be easily made into a limit order, which are as follows
Good Till Cancelled (GTC): A GTC order is the order that remains in the system for a period not exceeding one calendar week or the member cancels it.
Good For Day (GFD): A GFD is the order, which is valid for the day on which it is entered. If the order is not matched during the day, the order gets cancelled automatically at the end of the trading day.
Good Till Date (GTD): A GTD order allows the member to specify the number of days not exceeding one calendar week for which the order shall stay in the stay in the system. At the end of this period the order shall be deleted from the system.
In addition to limit order, the Exchange has introduced other following types of orders for the investors
- Market order: Market Order is an order to buy or sell a certain quantity of particular security at the best price or prices prevailing in the market at that point of time.
Volume related conditional market orders are following categories:
Full Fill or Kill (FOK): A FOK order is the order that will match for a trade at the Market Price only if the total quantity is available.
Partial Fill Rest Kill (PFRK): A PFRK order is the order that will match for a trade at the Market Price for the quantity available in the market. The balance quantity, if any, will be deleted from the system.
Partial Fill Rest Convert (PFRC): A PFRC order is the order that will match for a trade at the market price for the quantity available in the market. The balance quantity, if any, will be converted to a Limit Order at the last traded price.
Minimum Fill: An order in which the minimum quantity must be filled. - Drip Feed Order: A Drip Feed Order is an order in which the member has the option to specify a replenish quantity along with the total order quantity. Only the replenish quantity is revealed to the market. The quantity gets replenished only when the previous quantity has got traded and every time the quantity gets replenished, the visible quantity gets a new time stamp.
- Stop Loss Order: A Stop Loss Order allows the member to place an order, which gets activated only when the market price of the relevant security reaches or crosses trigger price. A stop loss order can be modified or deleted until it is not converted to a limit order.
- Match at Closing Price Order: A 'Match at Closing Price' Order allows the Member to specify order to be executed at Closing Price.
- Spot Order: Members shall be allowed to carry out spot order on CSE system arising out of closure of book or closure of the renunciation period of listed Companies. A spot order is traded against another spot order only.
- Bulk lot order: Bulk lot orders are multiple of market lot orders, which contain multiple number of certificates. Each of the Bulk lot order shall match with equal quantity and best price. The minimum amount for a bid of bulk lot for a certain security shall be Tk 0.5 ( point five) million at market price unless otherwise fixed by the Board time to time with the approval of the BSEC.
- Big Lot Order: Big lots are multiple of market lots inscribed in one single certificate. Each of the big lot order shall match with equal quantity and equal or better price.
- Auction Order: Auction Order shall be an order entered by CSE. The Exchange will specify a rate with price brand for each security when putting the auction order. The auction orders entered by CSE cannot be modified or deleted once the auction session has started.
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