Open an order Clause Samples
The 'Open an order' clause defines the process by which a party initiates a request to purchase goods or services under an agreement. Typically, this clause outlines the steps required to submit an order, such as providing written notice, specifying product details, quantities, and delivery requirements. By establishing a clear procedure for placing orders, the clause ensures both parties understand how transactions are initiated, reducing confusion and streamlining the procurement process.
Open an order. 3.4.1. The obligatory parameters for submitting an order are: Name of the tool; Trade volume; Order type
3.4.2. To open an order by means of the client terminal without using an expert advisor, the Client should press the button “Buy” or “Sell” at the moment, when Company’s quotes satisfy him/her.
3.4.3. To open an order by means of the client terminal using an expert advisor, an order should be generated to perform trade at a current quote.
3.4.4. Order processing for open orders
a) At the moment when a Client’s order to open the position comes to the server, an automatic check of the trading account for free margin for the open order is carried out. In the event that the necessary margin is present, the order is opened. If the margin is not sufficient, the order is not opened, and a notice about absence of funds is created on the server.
b) In case of the “Market execution” trading tool type, a quote for opening an order may differ from the requested one.
c) The note about the open order appearing on log-file of the server declares that the Client’s request has been processed and the order has been opened. Each open order on the trading platform receives a ticker.
d) An order to open a position submitted for processing before first quote appears on the trading platform at market opening, will be declined. In this event in the client terminal window a message will appear “No quote/trading is forbidden”. In the event of the Dealer processing by mistake a Client request to open an order at the price of the previous day closing, the Company is liable to cancel such an order. In such a case the Company contacts the Client and informs about it.
Open an order. 3.4.1. The mandatory parameters for submitting an order are: • Instrument name; • Trading volume; • Order type
3.4.2. To open an order through the Customer's terminal, without using an expert advisor, the Customer must press the "Buy" or "Sell" button when the Company's quotes are satisfying.
3.4.3. To open an order through the Customer terminal using an expert advisor, the order must be generated to execute the trade at the current quote.
Open an order. 3.4.1. The obligatory parameters for submitting an order are: Name of the tool; Trade volume; Order type
3.4.2. To open an order by means of the client terminal without using an expert advisor, the Client should press the button “Buy” or “Sell” at the moment, when Company’s quotes satisfy him/her.
3.4.3. To open an order by means of the client terminal using an expert advisor, an order should be generated to perform trade at a current quote.
3.4.4. Order processing for open orders is present, the order is opened. If the margin is not sufficient, the order is not opened, and a notice about absence of funds is created on the server.