Locked. (the bid equals the offer) and crossed (the bid is higher than the offer) markets, halted markets, limit up (buys halted)/limit down (sales halted) which may prevent the execution of client orders. i. Price volatility is one factor that can affect order execution. When there is a high volume of orders in the market, order imbalances and back logs can occur. This implies that more time is needed to execute the pending orders. Such delays are usually caused by the occurrence of different factors: a. the number and size of orders to be processed; ii. The speed at which current quotations (or last-sale information) are provide to Tera and; iii. The system capacity constraints applicable to the given exchange, as well as Tera and other firms.
Appears in 2 contracts
Sources: Customer Agreement, Customer Agreement