Stock term Hakarai torihiki
Richard Thieme
I have been trying to find a set English phrase for 計らい取引 in stock
trading.
I found a definition:
計らい注文とは、株価の変動が激しいと、指し値では売買が成立しにくいため、指し値に多少幅をもたせて売買してもいいと、事前に証券会社の社員に伝える注文の仕方をいいます。
at http://www.maiei.net/kablog/archives/2005/05/post_188.html
So it is not precisely a limit order or 指値注文, but I am not exactly sure
what to call it.
Can anyone help?
Thanks in advance.
Regards,
Richard Thieme
Marc Adler
>
>
> I have been trying to find a set English phrase for 計らい取引 in stock
> trading.
The following has "discretionary orders" for 計らい注文. It's in the first
line of each paragraph.
http://www.ibb.ubs.com/Our_global_presence/bestexecution_policy.shtml
当該ご指示いただいた執行方法（重複上場銘柄に係る計らい注文について、弊社が上記2.(1)②の規定により選定した金融商品取引所市場に加えて、その他の金融商品取引所市場でより有利な価格で執行可能であると考えられる状況においては弊社執行担当者が当該状況に気付いたときに当該金融商品取引所市場でも執行することという御指示をいただいた場合には、上記2.の選別基準に係わらず、発注の都度、弊社執行担当者の合理的な判断に基づいて金融商品取引所市場を選択して執行いたします。なお、この場合でも、弊社が上記2.(1)②の規定により選定した金融商品取引所市場に取り次ぐよりも、価格面と執行スピード及び執行可能性の面でお客様に有利または同等に執行できると考えられる場合には弊社が直接の取引の相手方となって執行いたします。）
Execution as instructed. (For discretionary orders of multiple listed
securities, in addition to the financial instruments exchanges
designated in 2. (1) (2) above, if the trader from “the company”
becomes aware that execution at another financial instruments exchange
is more price advantageous and has received instruction from the
client to execute on this exchange when in a case like this, the
trader, upon each trade, will make a rational judgment of selecting
the financial instruments exchange to execute the trade regardless of
selection criteria designated in section 2. above. In the situation
above, if “the company” believes it can trade to the advantage (or at
parity) of the client in terms of price and execution speed (and
execution probability) by acting as a counterpart to the client rather
than using any selected financial instruments exchanges designated in
section 2. (1) ② above, “the company” will execute the order by acting
as the direct counterpart to the client.
--
Marc Adler
www.adlerpacific.com
Richard Thieme
----- Original Message -----
送信者 : "Marc Adler" <marc....@gmail.com>
宛先 : <hon...@googlegroups.com>
送信日時 : 2009年3月14日 2:24
件名 : Re: Stock term Hakarai torihiki
Thanks. The definition I saw for discretionary orders gave me discretion in
time and not amount, but I have run across another definition which seems to
suit my purposes, and probably that is what I am going to go with.
Regards,
Richard Thieme