What is a closing deal and how can I place one?
What is it?
A closing deal is a sale of an open position made with a settlement period to match the settlement date of the original purchase.
For example if you purchase a stock on Monday with a T+10 settlement period and wish to make a closing sale on the following day, we require that you sell the stock on a T+9 settlement.
Because the settlement dates for the two trades match, when the settlement date is reached, we will either credit (or debit) your account with the net profit (or loss) made. When making a loss it is your responsibility to ensure there are sufficient funds in the account to cover any shortfall.
How do I place one?
If you wish to close an open purchase, you can do so from two places:
- Account Information Tab, Orders option - This page shows a list of all the orders available to close up to two working days before the settlement date of the purchase. To close orders simply click the close link next to the order, then follow the normal trading procedure.
- Closing Deals - This shows a breakdown of any deals that may be closed up to two working days before the settlement date of the purchase.
Should you wish to sell less than the total quantity available for the settlement date, simply amend the quantity of shares shown on the Place an order screen.
Please note: To make a closing deal outside of UK Market hours please contact Customer Services on 0808 156 6000 Monday to Friday 7:30am until 9pm or Saturday 9am until 3pm. It is not possible to place a closing deal outside of market hours on our website.
Closing Deals Demo
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