As a service to our clients, Janney Montgomery Scott LLC makes a two-sided market on more than 140 stocks. The Janney NASDAQ agency and principal desk has phone and electronic connections to market makers and markets throughout the country. This enables us to insure prompt and accurate execution on our customer’s orders.
High volumes of trading at market opening and at various points during the day may cause delays in execution and executions at prices significantly away from the market price quoted or displayed at the time the order was entered. The Firm is required to execute a market order placed by a customer fully and promptly without regard to price and a customer may receive an execution at a price significantly different from the current quoted price of that security.
If an investor is concerned about achieving a desired target price for a trade, he/she may want to consider using a limit order, which specifies a maximum price to be paid on a purchase or a minimum price that will be accepted on a sale. There is a risk, however, that a limit order may result in missing an execution in a fast moving market. This differs from a market order, where the order may be executed at a price significantly different from a quoted price of that security at the time of the order entry. Contact your Janney Financial Advisor to discuss the benefits and shortcomings of the market and limit orders and how your specific needs can best be met.