What is a One-Cancels-All (OCA) order?

A One-Cancels-All order is an instruction to place two orders simultaneously. Once one order is executed, the other is automatically cancelled.

1. Example:

Suppose the client holds 500 shares of ABC stock and places two sell sub-orders using an OCA order. One order is set at a limit price of $100 to sell 400 shares, and another order is a Stop order to sell 300 shares triggered at $80.

If the ABC stock rises to $100 and the client successfully sells 400 shares or the order is partially executed, the Stop order to sell 300 shares triggered at $80 will be cancelled, and vice versa.

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.

Explanation and Notes

1. Supported sub-order types: Limit order, Stop order and Stop Limit order.

2. The orders only support the same security.

3. The orders are limited to US securities.

4. After the order is triggered, there is no guarantee of execution.

5. After the 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.

6. If the 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.

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

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

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

10. Calculations:

• Estimated value of order combination = Total value of all sub-orders (e.g. sub-order A + sub-order B)

• Estimated transaction fees for the order = Total transaction fees required 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)