A closing only restriction applied to a product means that we will not accept any orders which would serve to open a position in that product but will accept orders which serve to close an existing position.
This restriction is generally applied to:
- Stocks which do not trade electronically (e.g., Grey Market securities);
- Securities which are subject to non-standard clearing, delivery and/or settlement processes (e.g, DTC Chills, broker-to-broker settlement, bonds with unique pricing or payment terms); and,
- Option contracts which have been restricted by the exchange due to a change in the listing status of the underlying security (e.g., underlying de-listed).