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Market if Touched (MIT) is an order to buy (or sell) a contract below (or above) the market. This order is held in the system until the trigger price is touched, and is then submitted as a market order. An MIT order is similar to a stop order, except that an MIT sell order is placed above the current market price, and a stop sell order is placed below.
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Simulated
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AMEX, ARCA, BRUT, BTRADE, Belfox, BondDesk, BOX, CBOE, CBOT, CFE, CME, DTB, E-CBOT, EUREXUS, FTA, FWB, GLOBEX, HKFE, IBIS, IDEAL PRO, IDEM, Inet, ISE, Liffe, LSE, Matif, ME, Meffrv, Monep, NYMEX, NYSE, ONE, OSE.JPN, PHLX, PSE, SGX, SNFE, SuperMontage, Soffex, SWB, SWX, TMBR,TSE, TSE.JPN, TSX, VIRTX, WINNER, XETRA |
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XYZ shows an asking price of 24.50. You decide to buy 100
shares, but you don't want to enter the market until the price drops to 24.40. You
click the Ask price to create a BUY order, and select MIT
in the Type field to specify a Market if Touched order. In the Aux. Price field, you enter the trigger price of 24.40, and submit the
order. Your order will remain in the system until the trigger price is touched, and will than be submitted as a market order. |
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