Price is the most important factor when considering best execution, and we source our prices from multiple venues. These venues are constantly reviewed, and we will always try to add liquidity venues that improve the integrity of our price and reduce the transactional charges to our clients.
Markets can move in milliseconds, meaning the price you click to trade on may have changed by the time your order reaches us. Our order management system will never fill you at a level worse than the one you requested – however, your order may be rejected.
A symmetrical tolerance level is set a certain distance either side of your requested price – if the market stays within this range by the time we receive your order, your order will be executed at the level you requested.
If the price moves outside this range, we will do one of two things:
- If the market moves to a better level for you, our price-improvement technology will ensure you receive it.
- If the price moves beyond our tolerance in the opposite direction, we'll reject the order and ask you to resubmit at the current level.
We do these checks to ensure the price your order is filled at is consistent with the current price that is available to our clients.
If you submit a market order it will be filled in the size and price available when we receive it.