What do I need to know about amending orders in Online Share Trading?
Last Updated: 01 Feb 2017
- An At Market (market price) order cannot be amended as these trade instantly
- The implementation of any amendments submitted, are pending confirmation that the previous order instruction has not yet traded with the relevant Exchange
- When amending a limit price on an order that has partly processed, do not amend the quantity of shares down, unless you want to reduce the total amount of shares to be traded. The amended limit price will only apply to the quantity of shares still to be traded. The new limit price will not affect shares that have already traded
- If ASB Securities receives an amendment on an order that has already traded, but has not been confirmed – either by an order status update or email confirmation – we will attempt to contact you to inform you of the unmatched trade. In this case, the original order instruction will remain
- Due to market conditions, system response times, system performance and/or other factors, there may be a delay in confirming your order, with an order status update or email confirmation
- All amendments will be valid for 20 business days from the original placement date and will then expire, regardless if the order has traded in part. You are ultimately responsible for replacing your orders
Your amendment may not be accepted if:
- Your specified price is invalid or is too far away from the current market price
- The security has been suspended/halted or delisted
- We require further clarification of your order/amendment. In this case, ASB Securities will attempt to contact you. However, you are ultimately responsible for checking your order before it is submitted
- Your amended order is outside of your available stock or cash
- Your order is complete
For more information see our guide on how to buy and sell shares in Online Share Trading.
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