What is a One-Triggers-A-One-Cancels-All (OTOCA) order?

A One-Triggers-A-One-Cancels-All order is an instruction to place two orders simultaneously. Once the primary order is executed, the sub-orders will be placed. Once a sub-order is executed, the other will be automatically cancelled.

1. Example:

A client wants to buy stock A and places a primary order to buy 1000 shares of stock A at a limit price of $130. At the same time, the client sets two sub-orders: the first sub-order is to buy 500 shares of stock A at a limit price of $110, and the second sub-order is to sell 500 shares of stock A at a limit price of $140.

1. When the primary order to buy 1000 shares of stock A at a limit price of $130 is filled, all the sub-orders in the combination will be automatically triggered.

2. When the first sub-order to buy 500 shares of stock A at a limit price of $110 is triggered and executed, the second sub-order to sell 500 shares of stock A at a limit price of $140 will be automatically cancelled.

2. Order Time

Orders can be placed at any time on the client’s side.

3. Order Duration

Clients can choose whether their orders are valid only on the day of the order or Good-Til-Cancelled (GTC). If an order is not fully executed within the specified period, the system will automatically cancel the order.

If an order fails during the execution process due to risk control measures, company actions, or other reasons, the order status will be updated to cancel, and the system will no longer continue to submit the order.

4. Trigger Time

The trading session can be set as "Include Extended Hours" or "Only Regular Hours ". Orders will be triggered based on the different time settings. After the conditions are triggered, the system will automatically submit the default order to the market.

5. Explanation and Notes

1. Primary order supported types: Market order, Limit order, Stop order, Stop Limit order, Limit if Touched (Take Profit) order, Market if Touched (Take Profit) order, Trailing Stop Limit order.

2. Sub-order supported types: Limit order, Stop order and Stop Limit order.

3. The orders only support the same security.

4. The orders are limited to US securities.

5. After an order is triggered, there is no guarantee of execution.

6. After an order is triggered, whether the corresponding order is executed or not, the order trigger conditions will not be activated again. If needed, please place a new order.

7. If an order is for position closure and the order quantity is more than the position at the time of triggering, the order will not be executed.

8. The orders will only be triggered within the allowed trading session.

9. The Time-in-Force of all primary orders and sub-orders must be consistent.

10. If the number of pending trigger orders is equal to or greater than 50 orders, no further advanced orders can be placed.

11. Calculations:

• Estimated total combination amount of the order = total amount of all sub-orders (e.g. sub-order A + sub-order B....)

• Estimated order commission fee = total commission fee for all sub-orders (e.g. sub-order A + sub-order B....)

• Order buying power = total buying power required for all sub-orders (e.g. sub-order A + sub-order B....)