Piggy has been receiving some enquiries from fellows that have been on-boarding the C-Trade platform for the trade of ZSE and FINSEC-listed shares. Most of the questions have revolved around placing a buy order after funding the C-Trade Account and selecting a Broker. This is generally a simple process where one just clicks on BUY ORDER and selects the Exchange (FINSEC or ZSE). The next stage would be to select the Company and Quantity. There is however a section on Time in Force.
Time in force is a special instruction used when placing a trade to indicate how long an order will remain active before it matches or expires. The various options enable traders to be more specific about the time parameters surrounding a given order. There are four main options outlined below;
- Day Order (DO) – means that the order will expire at the end of the day if it is not matched;
- Good-Till-Canceled (GTC)- means that the order will continue to be effective until it matches or is canceled;
- Immediate or Cancel Orders (IOC) – these are canceled if the entire order does not match as soon as it becomes available; and
- Good Till Day (GTD) – this option enables a trader to select an expiration date and time up until which an order will continue to work.
Another important feature on the C-Trade platform is the Market Watch which allows one to view the shares available for each counter (ASK VOLUME), the price at which the shares are being sold for (BEST ASK), the share orders by the other buyers (BID VOLUME) and the price at which the other buyer are willing to pay (BEST BID). The Market Watch functionality is only available on C-TRADE mobile app and C-TRADE web. We note that the matching of orders depends on several factors which include the availability of a corresponding order in terms of price. The My Recent Orders display all Matched Orders, Open Orders and Canceled Orders. The web-based solution enables investors interested in rich stock market information, analytics, trends and share price movements to have all this information at their fingertips. Overall, the C-TRADE platform enables investors to post orders anytime. However, the orders can only be executed when the market is open (ZSE opens at 10am-3pm from Monday to Friday while FINSEC opens from 9am-4pm from Monday to Friday).
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