The Foreign Exchange Market trades 24 hours a day. We understand how important it is for our clients to execute orders at their price targets in a timely fashion. Bendix utilizes it's global network to monitor and execute these orders even outside of North American business hours. Bendix FX has available the following strategies to optimize your hedging capabilities.

• Standing Orders
• Overnight Orders
• Stop Loss Orders
• Limited Orders

Standing Orders

A Standing Order means that a client gives us his strike price and as soon as the market hits that specific strike price, the client will be contacted by a senior trader, to arrange the appropriate settlement terms.

The Standing Order must state if the order is a GTC (which means good till cancelled), or if it is a day order (from 9:00am – till 5:00pm).

All Standing orders are given to the Inter Bank trader and placed on a live market watch.

Overnight Orders

Overnight orders, although they seem similar to standing orders, are used in particular to optimize the European and Asian market volatilities to buy or sell contracts at desired strike prices that have not been reached in the North American markets.

The overnight hours of trade are between 6pm – 8am.  All orders can be placed over the phone or through our online forum.

Stop Loss Orders

Stop Loss Orders are really a safety tool to protect a client’s absolute profit or risk.  In this type of order, an agreed minimum or maximum rate is put in place, so if the market goes above or below the stop loss level the client’s order is immediately executed at the next available price.  This type of order acts as a safety net, which protects clients from losing profits in case of extreme markets volatility.

Limit Orders

Limit orders are exactly the opposite of Stop Loss Orders.  In a Limit Order the client gives the trader a desired price to either buy or sell which is not currently available now, but the client is trying to optimize his bottom line by getting the better rate.  The limit order and stop loss order are day orders, once the trading day is over, they can be converted to overnight orders.  If they are not converted by the end of a trading day, they must be renewed the next trading day as a new order.

Good till Cancelled Orders (G.T.C.)

Good till Cancelled orders are orders that are valid until cancelled by the client.  These orders will remain valid for more than the current business day until it is cancelled by the client.  Good till Cancelled orders may apply to either a Stop Loss or Limit Orders.