Series 3: 6.3.1.3.3. Buy And Sell Stop-with-Limit Orders

6.3.1.3.3. Buy and Sell Stop-with-Limit Orders

If a stop-limit order is a stop order whose stop price becomes a limit price once it is triggered, a stop-with-limit order is a stop-limit order whose limit price is different from the stop price. A buy stop-with-limit order is set above the market price and filled no higher than the higher limit price. A sell stop-with-limit order is set below the market price and filled no lower than the lower limit price.

Note: Some exchanges do not distinguish between stop-limit orders and stop-with-limit orders. Where they do not, a stop-limit order may have a different limit price than the stop price.