Trading and Orders

ETFplus is a multilateral, order-driven, fast and efficient electronic market, able to handle thousands of messages per second, assuring fast order entering and deletion and automatic contract performance execution. Its trading hours are as follows:

  • Opening Auction: from 7:30am  to 9:04 am plus a variable interval of up to 30 secs, determined automatically on a random basis by the trading system.
  • Continuous trading: from 9.04 am to 5.30pm
  • Closing auction: from 5.30pm to 5.35pm plus a variable interval of up to 30 secs, determined automatically on a random basis by the trading system.

Contracts are executed through automatic matching of bid and ask orders according to price/time priority criteria. An order represents a commitment to trade a financial instrument on the basis of specific price and quantity conditions, according to specific trading procedures set by Borsa Italiana.

The principals constituent elements of an order are:

  • Price: a multiple of the trading tick applicable to the instrument (please check the trading ticks for ETFplus at this link) which in some cases may not be indicated (see market orders).
  • Quantity: any quantity the investor wishes to purchase/sell.
  • Type of transaction: purchase or sale.
  • Manner of execution: the validity parameters that characterise the order according to its execution and validity period.

For more info, please download the Service Manual for Trading on Optiq platform.


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