What is an Enhanced Limit Order (ELO)?
An ELO allows matching of up to ten price queues at a time. An ELO's ask order price can be entered at 9 spreads lower than the current bid, or the bid order price can be entered at 9 spreads higher than the current ask price. Any unfilled ELO will be stored in the system as a normal Limit Order at the input order price for queuing.
If your ELO cannot be fully executed, the unexecuted quantity of the ELO after matching will automatically be converted to an LO (an order that allows you to set a maximum price for a buy order or a minimum price for a sell order as the order price). The LO will be stored in the system at the input order price for queuing until the market closes. The aforementioned order will remains an LO despite any subsequent amendment.
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