Trade Execution and Price. The Firm routes orders to markets for prompt execution in view of prevailing market conditions, but there can be delays in the processing of orders. As a client, you understand and agree with the following: The quoted price may not reflect the trading activity from all markets. High volumes of trading at the market open or intraday may cause delays in executions and result in prices significantly different from the price quoted at the time the order was entered. Markets may handle orders manually and may reduce size guarantees during periods of volatility, resulting in possible delays in order execution, and losses. The execution price you receive may be impacted by numerous factors beyond the Firm’s control and responsibility, including the type of security, liquidity, and the size of the order. For example, large or “block” orders or orders involving illiquid securities may take additional time to execute and may execute at prices significantly different from the quoted price. The execution of market and stop-market orders may be at a price significantly different from the quoted price of that security. Limit orders will be executed only at a specified price or better, but there is the possibility that the order will not be executed. Securities traded in over-the-counter bulletin board and pink sheet securities and other thinly traded securities present particular trading risks in that they are often more volatile and generally less liquid than securities traded on exchanges. The Firm reserves the right to place restrictions on the trading of such securities without prior notice. You may suffer market losses during periods of volatility in the price and volume of a particular stock when systems issues result in an inability to place buy or sell orders.
Trade Execution and Price. I understand that, whether I place a market or limit order, I will receive the price at which my order is executed in the marketplace, subject to any clarification stated below. I understand and agree with the following:
Trade Execution and Price. You route orders to markets for prompt execution in view of prevailing market conditions, but there can be delays in the processing of orders. I understand and agree with the following:
