During the specified trading times for each routing channel, Direct Access allows you to enter buy and sell orders for NASDAQ, Listed, and OTC stocks. The table below shows a list of all the action types allowed with Direct Access.
|
Action Types |
|---|
|
Buy |
|
Sell |
|
Short |
|
Cancel |
|
Cancel All |
The change order function is not accepted when routing orders via Direct Access.
Each routing channel has different order types, hours of operation, and order conditions. The table below shows a quick reference guide for each destination including the following information: hours of operation, maximum number of shares, order types, and order conditions. For more information about each destination, click on the link for each.
| Order Destination | Type of Channel | Hours of Operation (Eastern Time) | Order Types | Order Conditions | Security Types Traded |
|---|---|---|---|---|---|
|
ARCA |
ECN |
7:00 a.m. - 8:00 p.m. |
Limit, Market, Market-Peg, Primary-Peg |
Day, IOC, Max Floor, Peg Diff, Discretion |
NNM, Listed, OTC |
|
NSDQ (NASDAQ) |
Exchange |
7:00 a.m. - 8:00 p.m. |
Limit, |
Day, IOC |
NNM, Listed |
Copyright ©Charles Schwab & Co., Inc. 2013. All rights reserved. Member SIPC. (0312-2067)