As of October 29th, 2009, DFM will be introducing a new Trading system with a few amended Rules and additional features. Consequently, and on the same day, Mashreq Securities will initiate these new features on its trading platform. These features can be selected when placing an order (buy or sell).
DFM new rules:
Market Orders (buy or sell)
When placing an order at Market price, the order will be executed immediately based on the available Quantity in the market. However, in case of a partial execution, remaining order will be converted to a “Limit Order” at the last traded price. The partial order will remain pending until it is executed at the new “limit price” or gets cancelled either by End of the Trading session or by you.
AON (All Or Non)
The AON feature will be disabled for DFM orders; hence any order below the value of AED 15,000/- should not be selected as AON.
Additional features:
FOK (Fill Or Kill Order)
When selecting this option, the order (buy or sell) will be executed only if full Quantity is available at the market, otherwise, the order will be cancelled immediately.
FAK (Fill And Kill Order)
When selecting this option, the order gets executed based on the available Quantity in the market. However, in case the full Quantity is not available, the order gets partially executed and the remainder will be cancelled immediately.
The above new options will be added to the existing “Order Type” options, which currently include GTD (Good till Date), GTW (Good Till Week), GTM (Good Till Month) and GTC (Good Till Cancelled).
For more information, please feel free to e-mail us back at info@mashreqsecurities.com or contact our hotline on +971 4 363 22 22 (option 2 after language selection) Sundays to Thursdays from 08:00am - 05:00pm UAE time (04:00am – 01:00pm GMT).