terms and conditions for trading in financial instruments - Danske Bank

We are entitled to record telephone conversations about
securities trades. Such recordings may serve as proof of
any agreements made. The recordings are for our own
use only.
If you place an order outside the bank’s normal opening
hours, such order will be executed on the next following
business day. You can find the bank’s normal opening
hours at www.danskebank.dk.
Your order will be binding upon receipt by the bank, and
consequently you will not be able to delete or withdraw
the order, unless it has not yet been executed. If you use
the ”delete order” command in a self-service system, you
should be aware that the bank may have executed your
order before your request for deletion is processed. If
your order has already been executed, your request for
deletion cannot be met.
We will execute your order according to the terms
described for each type of order and in accordance with
our Order Execution Policy. The policy applies to retail
customers and professional customers.
If changes have been agreed in the way we are permitted
to execute an order when the order is placed, we
may not be able to execute your order in whole or in
part according to the principles defined in our Order
Execution Policy.
You can find our Order Execution Policy on the bank’s
website.
2.1. ORDER TYPES
We offer the following order types
Market orders
• Market orders with limit (limit order)
• Market orders without limit (market order)
• Immediate trade
Average price orders
The short forms ”limit order” and ”market order” are used
in e.g. e-banking and on contract notes.
2.1.1 MARKET ORDERS WITH
AND WITHOUT LIMIT
We choose the trading venue and the order execution
method that is most advantageous to you.
For certain securities traded in several trading venues,
we may seek to execute your market order in one or
more transactions on these trading venues. We may
use IT systems that mainly execute your order on the
basis of price and costs in selected trading venues
with sufficient liquidity and where we expect to obtain
the best available price in accordance with our Order
Execution Policy.
The trades are made or agreed in our name, but for your
account. Thus, trades are executed on a commission
basis.
You may instruct that your order applies for a period of
time by selecting an expiry date
Limit
You have the option of placing your order as a ”market
order with limit” or as a ”market order without limit”.
If you choose a ”market order with limit”, it means that
you must set a limit price.
Choose this option if you want to buy or sell at a specific
price. There may be restrictions on individual securities
as to how much a limit may deviate from the prevailing
market price.
When limiting an order, you also agree that your limit
order will not be published if it cannot be executed
immediately under prevailing market conditions.
We, or the broker selected by us, seek to execute the
order when the price corresponds to the price set by
you.
If you choose a ”market order without limit”, we will set
the limit price at which we will seek to execute the order
based on the applicable market conditions. If we decide
for the order to be executed through another broker, the
limit may be set by that broker.
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