Support/FAQ - Trade

Trade

What is an ECN?
An ECN (Electronic Communication Network) is an electronic order routing service. Before placing an order, you will need to choose an ECN to transmit your order to the market.

My Stop orders don't work non-regular market hours. Why?
Stop orders can only be entered and executed during the regular trading session, which is between 9:30 AM - 4:00 PM Eastern Time. Stop orders placed during the pre and post market sessions are immediately cancelled.

What is the short sale uptick rule?
The short sale rule for NASDAQ securities states that on a down-bid, you can only sell short stock at a price above the current best bid. For example, if a stock is bid at $13, you need to offer $13.01 or higher to short this stock. If the last bid was an up-bid, you can sell short at the current bid.
The short sale rule for NYSE and AMEX works slightly differently, you can only sell short stock on an up-tick. Only trades done on the NYSE or AMEX, can create an up-tick on their respective stocks.
There is no short sale rule for ETF (Exchange Traded Funds) such as QQQ, DIA, SPY, etc.
Note: Each ECN or order route will enforce the short sale rule automatically.

How can I determine if I can sell short a particular stock?
Our platform will reject any sell short order placed where the stock is unavailable to short. If you wish to short a stock that our platform rejects please contact our trade desk, ***-***-****, and we may be able to get the stock available for you to short.

What are the INET and ARCA ECN's rules for shorting after normal maket hours?
Pre and Post market, you can use either of the above ECN's to short a stock. Short Sell rule do not apply to trades outside of regular market hours.

I have a bankrupt stock that's worthless. How can I get rid of it ?
If it is trading on the OTCBB (bulletin board), you can sell the stock using the ARCA. If there is no market for the stock, Please contact our office.