D-Quote Close Order Features and Functions

Day Trade The World™ is proud to announce that in coordination with Cuttone, we have adjusted the time you can cancel orders for CUTN D-Quote orders from 3:54:59 PM to3:59:45 PM.

Below is an overview of the distinct features and advantages of using Cuttone D-Quote Close and E-Quote Parity orders.

Cuttone Pool of Parity
By routing to the NYSE through eQuote Pool of Parity, traders have access to the Cuttone Pool of Parity, an important tool that gives a distinct advantage when executing trading strategies.

Parity allows traders to equally access real-time liquidity along with other market participants. By utilizing Cuttone’s eQoute Parity route, traders can greatly increase their chances of getting a fill.

D-Quote Close
Traders can send D-Quote Close orders on NYSE symbols to receive the NYSE closing price, or to participate in re-opening events in case of a symbol halt such as halted for News Pending, Regulatory Halt, or Limit Up Limit Down (LULD). D-Quote orders will appear in the closing imbalance starting at 3:55 PM.
D-Quote Close orders offer our traders an advantage over the regular NYSE CCG auction orders by allowing order cancellation until 3:59:45 PM, which is much later than is possible on NYSE CCG.Traders are now able to send D-Quote orders until 3:59:45 PM, after which time orders will be rejected.

Another advantage of the D-Quote Close order type is orders can be sent in either direction of the published imbalance. This allows traders enhanced flexibility as the NYSE CCG order can only offset the published imbalance.
E-Quote Parity
The E-Quote Parity order type allows traders to take advantage of the NYSE parity rule, which you can read more about in the Parity & Priority Fact Sheet.
We recommend that you read the Fact Sheet, and specifically their “Allocation Example”, to see the distinct order priority advantages that using this order type can give.
This is because it allows you to often get faster fills than if your trader submitted their order through the Electronic Book because of the Parity Rule. In fact, Limit orders receive higher fill rates when they are sent through the E-Quote Parity route.
If you have any questions or comments, please submit a mojo.

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