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US IPO Trading Rules - Placing of Orders before Stock has officially opened for trading

Please be informed that Market Orders are not allowed to be placed on IPO stocks before the counter starts trading. Such orders will be rejected by the market centers in US and will automatically be updated as Rejected Order under the status of your 'Order Book'.

A market order is an order entered with a quantity but without a price and it will be traded at the best price currently available in the market.

If you wish to place an order on IPO stocks before the counter starts trading, you can only place a limit order which is an order that allows a buy or sell of a stock at a specified price or better.

If you have any queries, please check with your Trading Representative.