KUALA LUMPUR: BURSA MALAYSIA BHD [] will implement a validity-of-order throughout the day via 'Day Order' effective April 18 and a single trading limit of 30% for shares above RM1 and 30 sen for units below RM1.
The stock exchange operator said the Day Order will replace the Session Order. It said this change is made for increased efficiency and to meet market expectations.
'With the implementation of Day Order, all unmatched orders from the morning session will be automatically carried forward to the afternoon session and shall be considered as valid for the whole trading day.'' Brokers are only required to manually cancel the orders after 2pm if they do not wish to carry the orders into the afternoon session,' it said.
Bursa Malaysia said currently all orders entered into the trading system is valid for a single session only as all unmatched orders are cancelled by Bursa Malaysia immediately after the end of the morning session.
Thereafter, brokers are required to re-key in their orders in the afternoon session at 2pm when the market re-opens for the Pre-Opening phase.
'In line with the implementation of Day Order, a single trading limit shall be applied for the whole trading day.'' The single trading limit will be at 30% or 30 sen,' it said.
The stock exchange operator said the Day Order will replace the Session Order. It said this change is made for increased efficiency and to meet market expectations.
'With the implementation of Day Order, all unmatched orders from the morning session will be automatically carried forward to the afternoon session and shall be considered as valid for the whole trading day.'' Brokers are only required to manually cancel the orders after 2pm if they do not wish to carry the orders into the afternoon session,' it said.
Bursa Malaysia said currently all orders entered into the trading system is valid for a single session only as all unmatched orders are cancelled by Bursa Malaysia immediately after the end of the morning session.
Thereafter, brokers are required to re-key in their orders in the afternoon session at 2pm when the market re-opens for the Pre-Opening phase.
'In line with the implementation of Day Order, a single trading limit shall be applied for the whole trading day.'' The single trading limit will be at 30% or 30 sen,' it said.
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