When trading online, you may find that at times you are unable to gain a firm price for your trade. A firm price is when you are provided with a 15 second countdown to accept the trade at that exact price.
When we cannot obtain a firm quote we will give you an "indicative quote" and ask if you would like to submit the order to be dealt at "market best". This means your trade will be sent to one of our dealers who will call the market to place your trade. This may result in the price achieved being different to the indicative price.
These are the most common reasons for being unable to get a firm electronic price.
Market Volatility
When prices are moving quickly, market makers may switch off electronic quotes to help them monitor prices. If this happens we will not be able to give you a firm price to trade over our website.
Extended Settlements
Settlements periods that are above the standard T+3 are classed as extended settlements. For more information about settlement periods please see the FAQ link at the bottom of the page.
Exchange Market Size (EMS)
The EMS is the term used to express the maximum number of shares the market is obliged to trade at the quoted price. EMS is based on a percentage of the share's average daily turnover in the previous year.
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