DMA example
Say BHP Billiton is trading on the ASX at 32.96/32.98.
On the Deal Ticket you can see the market depth prices of orders to buy and sell.
Judging from the weight of existing orders, you decide to place an order to buy 10,000 shares inside the market spread at 32.97.
As you are trading inside the spread rather than buying at an immediately available price, there is a short delay as your Order works in the market waiting to be filled.
However, as soon as there is sufficient market liquidity at your buying level, the order is filled and we take a parallel position in the underlying market to reflect your new position. In this case, as soon as the order is filled at your price, the trade will appear in your Open Positions panel the trading platform.
You now have a position in 10,000 BHP Billiton shares at 32.97.
Please consider our PDS. Your losses can exceed your initial deposit and you do not own or have any interest in the underlying asset.