June 25, 2008
Sterling GTC Order Reconciliation Requirement
Sterling requires brokers to submit a daily GTC Limit Order Reconciliation Report for all GTC orders on the Sterling network. Brokers or their clearing firm must submit the list of open GTC orders to Sterling daily for reconciliation. Sterling cannot and will not guarantee completeness or accuracy of the GTC orders and will not assume any liability related to the GTC orders unless we receive a reconciliation report.
Be advised that Sterling system has controls to remove the ability to send GTC order for individual traders/accounts at your request. Brokers may also choose to adjust GTC orders using Sterling Trader Manager platform.
If you need more information please call Sterling Help Desk at (312) 346-9600 ext. 290 or send us an email message to firstname.lastname@example.org