Market Orders

The foreign exchange market trades 24 hours a day. We understand how important it is for our clients to execute orders at their price targets in a timely fashion. Bendix utilizes its global network to monitor and execute these orders even outside of North American business hours.

ChartBendix has available the following risk management strategies to optimize your hedging capabilities.

  • Standing Orders
  • Overnight Orders
  • Stop Loss Orders
  • Limited Orders
  • Good till Cancelled Orders (G.T.C.)

Standing Orders

A Standing Order is when a client gives us their target price. As soon as the market hits that specific target price, the transaction is automatically executed. The client is then contacted by his account executive to arrange the appropriate settlement. The Standing Order must state if the order is a GTC (Good Till Cancelled) or a day order (from 9:00am – until 5:00pm). All Standing orders are given to the Inter Bank trader, and placed on a live market watch.

Overnight Orders

Overnight orders, although seemingly similar to standing orders, are used in particular to optimize volatilities in the European and Asian markets to buy or sell contracts at desired or targeted prices that may not have been reached in the North American trading sessions. The overnight hours of trade are between 6pm – 8am.

Stop Loss Orders

Stop Loss Orders are safety tools to protect a client’s absolute profit or risk.  In this type of order, an agreed minimum or maximum target rate is put in place; if the market goes above or below the target level, the client’s order is immediately executed at the next available price. This type of order acts as a safety net, which protects clients from losing profits in case of extreme market volatility.

Limit Orders

Limit orders are almost the exact opposite of Stop Loss Orders.  In a Limit Order the client tells the trader a that they would like to either buy or sell at a desired price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher., The limit order and stop loss order are day orders, once the day’s trading session is over, they can be converted to overnight orders.  If they are not converted by the end of a trading day, the orders must be renewed the next trading day as a new order.

Good till Cancelled Orders (G.T.C.)

Good till Cancelled orders are orders that are valid until cancelled by the client.  These orders will remain valid for more than the current business day, and may apply to either a Stop Loss or Limit Orders.