Stop-Loss Orders definition

An order linked to a specific position to close that position and prevent additional losses. A stop-loss order will be executed when the displayed price on GTS touches the order price. The executed price will be the order price or in the case of a fast market the order will be executed at the next displayed price. When a stop-loss order is placed on a buy position it is an order to sell that position. While a stop-loss order on a sell position is an order to buy that position. All stop-loss orders remain in effect until the position is liquidated or cancelled by the client.