The submission of a purchase or a sell order in the stock market should be undertaken through a broker. The market order must contain some information necessary for its proper execution, including:
- The identity of the order submitter
- The nature of the operation or the transaction: A market order can be a purchase order or a sell order. When you give your instructions to your broker, you must indicate whether you want to purchase or sell.
- Designation of the security and quantity, that is to say, the name of the security on which the order is placed and the number of securities to be traded: A market order concerns a given security and a precise quantity of this security. You must specify, in a way that does not involve confusion, the security and the quantity concerned.
- The price of the transaction (the price): any transaction has a price. When you give your instructions to your broker, you must indicate the price at which you want to make your transaction.
- The validity period of the order: a stock market order must have a validity period. The latter may, in no case, exceed 30 days from the date of its submission.
- The signature of the order submitter.
How would you know your market order was executed?
The regulations of the stock exchange marker require that your broker must provide you with a notice confirming the execution of your order within two days following the date of execution.
Moreover, the common practice is that Brokers inform their clients of the execution of their orders on the same day, when it is possible to contact them.
Finally, it is always possible that you take the initiative to contact your broker requiring information about the execution of your orders.
Follow us on