Like for example: Worked (cared) orders are those that are being watched and executed at the moment, price limit and specified instruction that our desk traders receive by the client. The order would get filled at prices that our desk detects as good, and will also try to get the orders fully executed.

Worked orders are mostly used when its not needed to care about speed, and/or the specifics of the Mexican market; also when its wanted to make sure that the overall investment strategy gets hidden, making Finamex experts resolve what, when and how is best to perform instructions like for example: Trade Along; Over The Day; Participate Don't Initiate; Strict Scale; Stay on Bidside ; No Cross; Call First; All or None, ...

Pegged orders are a very special kind of order type, in where the price is automatically adjusted to be the best choice to buy/sell always. Automatically adjusts the price whenever a better offer is received and keeps on doing that until the order is executed or cancelled. For this order type, a price limit must be specified, and is used to notify to the market that a limit on the price the order must adopt when automatically changing. When this price is reached, the price keeps it as is, no matter if another better offer is received.

Iceberg orders are typical orders but with a shown quantity at the exchange’s floor (or book) and a hidden bigger quantity. The order must be sent specifying the quantity that will be shown (ex. 10,000 shares are sent, with the visible volume at 2,000). Once sent, the order will be treated as a single order for the shown quantity. The remaining volume is not shown on floor until the first is filled. You will receive one or more partial fills up to the shown quantity always. Once the shown quantity complete executed, there will be again shown a single order in the floor with quantity as indicated.

Time-in-force orders (TIF) are standard orders with certain days to live, up to 30 days. This permit clients to set orders at certain limit price and wait up to one month for the order to be executed.

Immediate or Cancel orders (IOC) are special order types that are sent to the exchange with a cancel request immediately at its tail. That provides with an immediate expiry order that seeks only to take what’s on board at the moment.

Fill or Kill very similar to the IOC orders, but this specific type seeks to full-fill the order before it is inserted on board. If it doesn’t get filled, it gets cancelled. That is done simply by checking the best ask or bid in the market before placing it. If it satisfies the desired price and volume, its sent, otherwise it isn’t. And other worked-order types you can choose or suggest yourself to our desk to follow your specific instruction. Ask us for other choices.