Are orders sent directly to the stock exchange for execution? How fast will my order be executed?
Orders are never sent directly to the stock exchange for entry. As with orders placed by phone, brokers must first ensure that the clients particular order adheres to certain risk parameters. Once the broker has determined that the client has sufficient cash or collateral in their account, the on-line orders are then routed directly to our trading terminals for execution. Upon execution of your order, you will receive a confirmation electronically. The speed by which your on-line orders are transmitted to us will be determined, first and foremost, by your connection to the Internet. Some Internet service providers will have better, clearer, and faster service than others, particularly with regards to phone line speed and clarity. The faster your connection, the faster we receive your orders. Second, execution of your order will also depend on the following factors, namely, if the stock is being actively traded and if there is strong demand for the particular issue which you want to buy
