Share Trading platform - order input issues

[h7]

Hey there,

Any chance of setting up the share Trading platforms so we don't have to re-input orders every day.

The CFD platform has done this since I joined. I'm sure others have asked on numerous occasions.

I'm also getting grief from the new traders I've introduced to the platform that this is a big issue for them.

Thanks in advance 

H

 

[JamesIG]

To summarise from Investopedia: "Several exchanges, including the NYSE and NASDAQ no longer accept GTC orders, including stop orders. They have decided that such orders are a risk to investors who may see their orders executed an inopportune time due to temporary volatility in the market." 

We offer a pure DMA (direct market access) functionality where we don't come between your input order and the underlying exchange. Because the exchange themselves don't offer the order type, we don't either. Whilst some brokers do offer a sort of hybrid DMA where they take your order and automatically push a synthetic GTC order type (but automatically submitting your order as a new order every day), this isn't currently a function we provide. 

I appreciate that some clients do want this functionality, so I'm going to go and speak to our Head of Shares directly to relay feedback items such as this (as well as things like DRIP functionality etc). 

@h7 - this was the post. Apologies I didn't finalise the reply! 

[JamesIG]

You should be able to set GTC (Good til cancel) orders for the majority of shares on the share dealing platform. These are different from 'day' orders which will be removed at the end of the day. Hope this helps. 

What are you trying to trade on? 

[h7]

Hey there,

I don't have any GTC on the share platform. Yes I do Have GTC in the CFD platform.

The only choices I get in the Share platform is  - Limit Day 

                                                                                     - excecute & eliminate

                                                                                    - Fill or Kill

There is no GTC (Good till cancel)

[JamesIG]

not all exchanges or stock types offer GTC - what specifically are you looking to trade on (stock name)?

[h7]

Hi there,

So far every stock has the same issue in the Share platform.

Which names am I talking about is your question............

These are just a few... There are many more.

..every stock I have tried to input into the Share Platform has no GTC available.

Australian stocks.

Telstra - No GTC available 

ANZ - No GTC available

NASDAQ

Netflicks (NFLX)- No GTC available

Eagle Bulk shipping (EGLE) - No GTC available

NYSE

Bank of America (BAC) - No GTC available

Genco Shipping & Trading (GNK)   - No GTC available

 

Is it me?  Am I logged into the wrong share platform ?

Can you tell me which stock has GTC. Just give me one name in the Share platform so I can test my system.

 

Regards 

H

[oldpos]

I don’t think this has been changed. I can only trade with day orders in any Australian stocks, never GTC.  That really means that if I put a buy in for 4000 stocks an hour before the market closes and I only buy 1 because of a stock price rise, the remainder is purged at the end of day with a brokerage cost of AU$8 for the purchase of only 1 share.

Surely I am missing something here!