1 An order is a binding offer to buy or sell a certain quantity of one security at an unlimited or limited price.
2 Orders may be entered in the order book, amended or deleted, during set periods. All incoming orders shall be assigned a time stamp and an identification number. Amended orders shall lose their original time priority and be given a new time stamp.
3 Orders must be flagged as follows:
as agent trades, if trading takes place in the participant's own name but for the account of the client; and
as nostro trades, if trading takes place in the participant's own name and for his own account.
4 The details are laid down in the "Trading" Directive.