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Non-Tech : DLJ direct ... On Line Broker ( PCFN ) -- Ignore unavailable to you. Want to Upgrade?

To: Max who wrote (104)	2/20/1999 2:03:00 PM
From: Chip Anderson	Read Replies (1) \| Respond to of 171

Here are the types of orders supported by DLJ's client software (from the help file). BTW, I've not been able to place Stop orders on NASDAQ stocks via DLJDirect. ======================= Using DLJdirect MARKETSPEED you can place the following types of orders: Market Order An order to buy or sell a specific number of shares at the then-current market price once the order is received in the marketplace. Normally, a market order is executed at the price when the order is received in the marketplace. Limit Order An order to buy or sell a specified amount of a security at a specified price or at a better price. In the case of a buy, it will never be executed above the limit price. Conversely, in a sell, the order will never be executed below the limit price. If the limit price is not within the current market quote, it is said to be "away from the market". The order is entered on the specialist's book beneath any similar orders received earlier. These similar orders are said to be "shares ahead of you". Thus, the limit order may not be executed immediately. Additionally, the limit order may be partially executed or not executed at all even if the limit price is reached. Stop Order An order that becomes a "market order" when a round lot (usually 100 shares) in the security trades at or through a specified price (stop price). A stop order is usually used to protect paper profits or limit the extent of possible losses. All or None (AON) Order An order where the client wants the entire order executed or none of it. The purchase (or sale) order must be greater than one round lot (100 shares). An AON order can be either a Day order or a Good ‘til Canceled order. DLJdirect requires an AON order to be a minimum of 200 shares for securities and a minimum of 11 contracts for options orders. Fill or Kill (FOK) Order A limit order to buy or sell a security in which the investor instructs the broker to execute the order immediately in its entirety. If the order cannot be executed, it is canceled. DLJdirect requires an FOK order to be a minimum of 200 shares for securities and a minimum of 11 contracts for options orders. Good ‘til Canceled Customer order to buy or sell securities at a limit or stop price that will remain in effect until it is either executed, or canceled. If it is not executed, the customer may attempt to cancel or change it at any time. Also called an "open order." ============================ Hope this helps, Chip stockcharts.com