Order handling protocol

The following order handling protocols may affect the way your equity or option order is executed:

  • A cancel replace is referred to as a "change order" on the Ameriprise Brokerage Platform* and "edit" on the secure site of ameriprise.com.
  • All changes to equity and option orders will be handled as a cancel replace, which may result in a loss of priority in the order queue.
  • A cancel replace is handled on a best efforts basis and is subject to previous execution of the original order.

* The Ameriprise Brokerage Platform is a program for Ameriprise Financial advisors; clients do not have access.

Orders routed to a foreign exchange or broker for execution are handled on a "net" basis. The executed price may reflect transaction, handling and/or currency exchange fees associated with the transaction.

When a LULD event for a particular security is triggered, equity and option orders for this security will be affected in the following ways:

Equity orders — Limit or straddle state

  • Market, limit, stop and stop-limit orders are accepted and will execute.
  • Market and limit orders priced through the LULD bands will be displayed according to the order handling rules of the exchange.
  • Stop and stop-limit orders will trigger based on transactions occurring within the National Best Bid and Offer (NBBO) and within the upper and lower bands.

Equity orders — LULD halt

  • Market, limit, stop and stop-limit orders are accepted during a halt.
  • Orders will be routed to the primary listing market for participation in the reopening of the security.

Option orders — Limit or straddle state

  • Market orders will reject.
  • Limit, stop and stop-limit orders are accepted.
  • Stop orders will not trigger and/or execute.
  • Limit and stop-limit orders will trigger and/or execute.

Option orders — LULD halt

  • Market orders will reject.
  • Limit, stop and stop-limit orders are accepted.
  • Stop orders will not trigger and/or execute.
  • Limit and stop-limit orders will trigger and/or execute.

Orders accepted from 4:00:00 p.m. Eastern time the previous trading day until 9:27:00 a.m. Eastern time will be reflected at the primary exchange for participation in the open. Orders entered after 9:27:00 a.m. Eastern time up until the primary exchange begins trading will be handled on a best efforts basis for inclusion with the opening print.

Securities begin trading based on the primary listing exchanges official market opening quote or price. Orders will not be represented for executions occurring outside the primary listing exchange official market open.

Listed stocks

  • The open is conducted with the first non-locked/crossed primary exchange opening quote or the primary exchange opening print.

NASDAQ National Market System (NMS) stocks

  • The open is conducted with the first non-locked/crossed NASDAQ opening quote at the NASDAQ official opening price.
  • Market and limit orders are eligible for the opening print. Orders with special instructions (e.g., stop, all-or-none, immediate-or-cancel, market-on-open, etc.) are not eligible for the opening print and will be handled on a best efforts basis.

Equity orders

  • Stop and stop-limit orders are accepted in both listed and over-the-counter (OTC) stocks.
  • Stop and stop-limit orders are elected (triggered) based on last-sale price posted to the consolidated tape.
  • Elected (triggered) stop and stop-limit orders are handled on a best efforts basis.
  • Odd-lot transactions printed to the consolidated tape will not be used to trigger stop and stop-limit orders.
  • Ameriprise routes these orders to market centers that may have additional price bands designed to prevent the election of a stop or stop-limit order from an inaccurate last-sale price.

Equity orders

  • Trailing stop orders are accepted in both listed and OTC stocks. Not all stocks are eligible for trailing stops.
  • The trailing stop price is calculated and adjusted on the NBBO quote. The trailing stop order election is based on the last trade.
  • For buy orders, the stop order will elect (trigger) when the stop price is equal to or lower than the last trade price.
  • For sell orders, the order will elect (trigger) when the stop price is equal to or higher than the trade price.
  • Elected (triggered) trailing stop orderes are handled on a best efforts basis.
  • Ameriprise routes these orders to market centers that may have additional price bands designed to prevent the election of a trailing stop order from a trade that is erroneous.
Questions?

Contact your financial advisor

— OR —

Call an Ameriprise Financial client service representative

800.862.7919

Monday through Friday
7 a.m. to 7 p.m. Central time