day around order

Definition

A special kind of trade order that combines a cancel order with a day order in one form. This is will be used by a trader who has made a previous day order, but for whatever reason decides to change that order. Instead of cancelling the old order and creating a new order with different requests (using two forms), the trader submits the day around order that both cancels the previous order, and creates a new order with the new stipulation (using one form).
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DAX 100 day book