You may place Smart Basket orders at any time, but they will only be executed during market hours. Trades placed through Smart Baskets will remain active only on the day of placement, after which they will be canceled.
You can check the status of the individual orders in the Smart Basket order in the history page of the Menu section in the app.
The following execution rules apply for US Smart Baskets and AU Smart Baskets:
- For US Smart Baskets, the allocation of your funds between individual constituents will not vary. All trades are likely to be fully executed, but the execution prices and quantities of units purchased may vary due to market movements. In the unlikely event that any trades are unfilled, they will be canceled at the end of the trading day, and the unused funds will be returned to you.
- For AU Smart Baskets, the allocation of your funds between individual constituents may vary depending on the eventual trade execution prices. This is because fractional trading is not supported. Trades may not be filled at the same time. Unfilled trades will be canceled at the end of the trading day, and the unused funds will be returned to you.
To protect customers from excessive price fluctuations, a 2% buffer is added to the current market prices to ensure execution of the market orders for Australian equities. If the constituent’s price exceeds the 2% buffer, the trade will not be executed.
An AU Smart Basket comprises Company Y as a constituent. Company Y is currently trading at a market price of A$100 per share. When you place your order through that Smart Basket, a 2% buffer of A$2 is added to the current market price, bringing the maximum order price to A$102 per share. If the price of Company Y's shares stays below A$102 per share, your order will be executed at the best available price market price below A$102.
However, if the price of Company Y's shares rises to A$105 per share, your order will not be immediately filled. Instead, it will remain active throughout the day to increase the likelihood of execution at the best possible price. If the price of Company Y's shares drops back down to below A$102 per share later in the day, your order may be executed at that price.
If the price of Company Y's shares remains above A$102 per share, your order will not be executed at all, and the trade will be canceled at the end of the trading day.