Platforms Team Platforms Team
Sales, Products and Platforms, Saxo Capital Markets
09 December 2015

Stop order to be decommissioned on Exchange Traded Options (ETOs)

​Stop orders will be decommissioned on Exchange Traded Options (ETOs) from 12th December 2015.

​​​Stop orders will be decommissioned on Exchange Traded Options (ETOs) from 12th December 2015.

Stop orders are triggered if a minimum trade of one lot in the instrument is traded in the market. As option prices are calculated on the underlying stock or futures price so the price can reach the stop price but not be triggered as no one is actually trading at that price (for that strike and expiry). To avoid unexpected trading behaviour, Saxo Bank is removing all Stop order types (stops and trailing stops) on all ETOs (stock options, futures options and index options) from December 12th. ETOs will then only be tradable using market and limit orders.

After the close (NYSE) on Friday 11th December, existing stop orders on ETOs will be cancelled.