CIX Secondary Markets Guide- Orders

Orders

Trade

The dialog box provides a drop down list of all Issuers, this can further be filtered by either S&P or Moody's rating

The Trade page is used to select a bond issue to Buy, Sell or Switch

Buy Order

By selection the Bond Issuer and series, the investor purchases the bond by clicking the <Buy> button activating the following screen. The fields requiring completion includes:

Face Value
Settlement defaults T+ 3 days (Settlement in 3 days)
Yield
Good until - options for this field include <Good for today> or <Good until Cancelled>
<Get an offer> button sends a request through to the Dealer requesting an offer for this order

Preview Request

Once the investor has confirmed the face value of the bond purchase and yield a <Bond Order Confirmation> is produced that requires confirmation by entering a <Password> and then clicks <Submit Request> to place the order.

Order Entered

This provides confirmation details that the order has been entered

Sell Order

By selection the Bond Issuer and series, the investor purchases the bond by click the <Buy> button activating up the following screen. The fields requiring completion includes:

Face Value
Settlement defaults to T+ 3 days (Settlement in 3 days)
Yield
Good until - options for this field include <Good for today> or <Good until Cancelled>

<Get an Offer> button sends a request through to the Trader requesting an offer for this purchase

Once the face value and yield are completed, by clicking <Preview Request> a display of the final bond details for submission will appear.

The <Reset> button clears the input fields

Preview Request

Once the investor has confirmed the face value of the bond purchase and yield a <Bond Order Confirmation> is produced that required confirmation by entering a <Password> and then clicks <Submit Request> to place the order.

The Preview screen for <Sell> provide the same functionality as in the <Buy> screens above.

Switch

Switching one bond issue series with another plus consideration is achieved using the same <Trade> screen.

An offer to <Switch> between two lines of stock is achieved by clicking the checkbox for <Buy> and <Sell>, then by clicking the <Switch> button. The following screen is then displayed.

Consideration for the offer to Switch stock is entered as <Face Value> and submitted as <Make an Offer> to the dealer. While the dealer is responding to this request, the following screen appears.

The dealer responds by either accepting or rejecting the offer.

Cancel Order

Select the bond order to be cancelled, the click the <Cancel> button.

Cancel Order Confirmation

A confirmation screen appears to confirm cancellation of the deal. Entry of <password> is required to <Submit Cancellation>

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