Trading and Orders
ETFplus is a multilateral, order-driven, fast and efficient electronic market, able to handle thousands of messages per second, assuring fast order entering and deletion and automatic contract performance execution. Its trading hours are as follows:
- Opening Auction: from 7:30am to 9:04 am plus a variable interval of up to 30 secs, determined automatically on a random basis by the trading system.
- Continuous trading: from 9.04 am to 5.30pm
- Closing auction: from 5.30pm to 5.35pm plus a variable interval of up to 30 secs, determined automatically on a random basis by the trading system.
Contracts are executed through automatic matching of bid and ask orders according to price/time priority criteria. An order represents a commitment to trade a financial instrument on the basis of specific price and quantity conditions, according to specific trading procedures set by Borsa Italiana.
The principals constituent elements of an order are:
- Price: a multiple of the trading tick applicable to the instrument (please check the trading ticks for ETFplus at this link) which in some cases may not be indicated (see market orders).
- Quantity: any quantity the investor wishes to purchase/sell.
- Type of transaction: purchase or sale.
- Manner of execution: the validity parameters that characterise the order according to its execution and validity period.
For more info, please download the Service Manual for Trading on Optiq platform.
