Definition: An order that is not activated until the parent order is executed.
Usage: To execute orders that are structured with two or more steps occurring in a specified sequence, the parent order must be executed before the rest of the orders are executed.
Example of an ‘If Done’ order used to perform sequential trades
A limit order to sell SIA at $14.90 is executed. This triggers the ‘If Done’ order to buy SPC at a limit price of $6.40.
The limit order that was submitted by the ‘If Done’ order is now executed to buy SPC at S$6.40.