For orders valid at the opening, when can they be entered and what happens to non-executed parts after open?

For orders valid at the opening, when can they be entered and what happens to non-executed parts after open?

• A. During trading day; they remain
• B. Only during pre-opening and valid through opening; non-executed parts deleted after open
• C. Only during opening; visible
• D. Only during closing

Answer: (B)

Opening orders are used to participate in the price discovery at the market’s opening. They must be entered in the pre-opening phase and stay valid through the opening auction. If any part of such an order isn’t filled during the opening, that non-executed portion is removed after the opening. This setup ensures the opening price is determined by orders active specifically for the opening, and prevents unfilled opening-only orders from lingering into the regular trading session.

Opening orders are used to participate in the price discovery at the market’s opening. They must be entered in the pre-opening phase and stay valid through the opening auction. If any part of such an order isn’t filled during the opening, that non-executed portion is removed after the opening. This setup ensures the opening price is determined by orders active specifically for the opening, and prevents unfilled opening-only orders from lingering into the regular trading session.