CMC launches If-Done Contingent Orders

Received this e-mail today from CMC:

Dear Client,

CMC Markets is once again pleased to announce that we are enhancing our product offering. On Thursday 6th September 2007, we will introduce the following changes to Marketmaker®:

If-Done Orders

You can’t always be watching the markets so Marketmaker® now offers If-Done orders to help you plan your trading. Using the new If-Done ticket, you can place contingent orders to help your trading strategy.

An If-Done order is a way of linking two conditional orders together, so that if one of the orders is executed, then the other order is placed in the market as a result. For example, a trade may use a stop-buy order to open a long position with an associated stop-sell order to limit any potential losses. Therefore, if the stop-buy order gets executed, then the stop-sell order is placed in the market. However, if the stop-buy order is not executed, then the stop-sell order does not become active in the market.

This is a nice development. They have had it on the CFD platform for some time and finally migrated it to spread betting.

Tags: CMC, CMC Markets, cmcmarkets

This entry was posted on Monday, September 24th, 2007 at 2:26 am and is filed under Trading Platforms. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.