Order Handling Procedures and Trading Hours

What this video covers

• Why a member must make every effort to execute a marketable customer order fully and promptly
• Why a prompt partial fill with no further effort does not satisfy the full-and-prompt duty
• When a member must cross an unexecuted marketable customer order with an opposite-side order
• How the crossing limits work for size, price, and consistency with the orders' terms
• Why the price band is measured from the best bid to the best offer when the subsequent order arrives
• How multiple unexecuted orders may be crossed or executed reasonably, including the same-price contemporaneous cross
• How normal market hours, order-life limits, and mutual agreement determine when customer-order protections apply