If an order is routed, it will not be posted in the order book and will not be viewable during the time it is being routed. Such orders will be executed only if the orders match an order from another investor or market professional to sell or purchase on the other side of the transaction. Otherwise, the order will not be executed and, unless canceled earlier by the investor or market professional, will be removed from MarketXT at the close of its trading session. Therefore, purchases and sales on MarketXT are subject to normal market risks, including the possible loss of invested principal. Delays or failures in communications due to a high volume of orders or communications or other computer system problems may cause delays in, or prevent, execution of your order.
Liquidity refers to the ability of market participants to buy and sell securities.
Generally, the more orders there are available in the market, the more liquid the market is. Liquidity is important, because the more liquid a market is, the easier it may be to buy or sell securities, and the better the odds are of paying or receiving a competitive price for the securities purchased or sold. There may be a lack of liquidity in the MarketXT system which prevents your order from being executed, in whole or in part, or from receiving as favorable a price as you might receive on the security's primary exchange. Volatility refers to the changes in price that securities undergo when trading. Generally speaking, the higher the volatility of a security, the greater its price swings.