Simon - Buy Triggers

[ABuzz]

Hi Simon. I don't know if this has been discussed before, but how about OST offering Buy Triggers. Currently if one places a Buy bid it freezes the required cash until the trade matches. If one could set up Buy Triggers, one could place a lot more potential Buy Bids and as and when the Target Price is reached (providing one has the required funds available) the Buy Bid is placed automatically by OST. I'm sure lots of traders would like to take advantage of such a system. This could allow OST to come closer to the opperating methods of the other Brokers, who allow me to make Buy Bids even though I don't have the cash and then I have to pay for them once they are met. It would still be safe for OST, cos if once the trigger is activated the buyer doesn't have the funds it wouldn't place the Bid.

[ABuzz]

Hi Simon - I know you are busy responding to loads of other threads, but have you had a chance to look at this one, or are you busy investigating the viability of implementing it?

[SimonPB]

abuzz, noted. The cash in the account requirement not so sure about.

[ABuzz]

Thanks Simon. With today's advanced computer systems I am sure it should work. The minute the target price is triggered, the OST computer system quickly "checks" whether the required funds are available in the traders account and only then does it convert it to a live Bid on the market (and in doing so, only then does it freeze those funds, pending the transaction)