Modifying/Canceling an Open Order
From the Order Status Page
To modify an order:
- Click the Modify link next to the order you want to modify.
- Next, on the Order Status: Modify page, make the appropriate changes to the order, and click the Modify button.
To return to the Order Status page without saving changes, click the 'Return to Open Orders' link. To undo any changes you made without leaving the page, click the 'Undo' button. You'll be able to review the modification to the order in the same way you can review a new order.
Note: An open order may complete while you are attempting to modify it. Partial completions may also occur while modifying an order.
To cancel an order:
- Click the Cancel link next to the order you want to cancel.
- 2. Next, on the Order Status: Cancel page, confirm that this is the order you would like to cancel, and click the Cancel button.
You'll be returned to the Order Status page where you can check the status of your cancellation request*. To return to Open Orders without canceling, click the 'Return to Open Orders' link.
Note: An open order may complete while you are attempting to cancel it. Partial completions may also occur while canceling an order.
*If you cancel an order by calling your local Scottrade branch office, the order will disappear from your Open Orders. You will not be able to check the status of your cancellation online.
Pre-Market Modifies and Cancels
An increasing number of execution venues are establishing a single-price opening for certain NASDAQ securities. The impetus behind this initiative is to provide better execution prices for both buyers and sellers.
A single-price opening allows the execution of buy and sell orders for a security at a single price between the bid or ask prices.
The opening price is determined by an algorithm or method established by the execution venue. This type of order handling includes terms such as midpoint pricing or NASDAQ Official Opening Price (NOOP).
Execution venues offering a single-price opening must balance both sides of their book and establish an opening price before the market opens.
In order to accomplish this and maintain an orderly market, an increasing number of execution venues will no longer accept order cancellations or modifications of open orders between 9:28 and 9:30 A.M.
Customers may receive a 'too late to cancel' message when attempting to change or modify an order during that time.
Please remember that order cancellations and modifications are not guaranteed.