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  • BOV Investment Funds
    Designed for those interested in investing in line with ones risk tolerance. ...
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Procedures
Procedures

Placing your orders

You may place orders to buy or sell shares or bonds through any BOV Investment Centre or Branch throughout Malta and Gozo. This service applies to the purchase and sale of securities listed on both the Malta Stock Exchange and foreign stock exchanges.

When placing an order, you will be given an order form to be signed by yourself (and any other joint applicants in case of joint holdings). The order form includes a tentative consideration, which is indicative of the amount due for settlement but may not correspond to the exact amount.

Joint Holdings

Where a security is acquired and held jointly by two or more persons, contract notes, statements and other documentation relating to such a security are issued solely in the name of the first Applicant.

Different options to place orders

Prices
You may place your order to buy or sell at the price you would like. Your order will be executed on the relevant stock exchange if it is matched and the purchase or sale can be concluded.

If you do not wish to put a  price limit on your order, instructions should be marked 'at market'.  This will ensure that the order is executed at the current available price in the market at the time of execution, which may be more or less than the last price traded.

Expiry dates
Unless instructed otherwise, your orders will be valid for 90 days by default.  Alternatively, you may specify an expiry date for the order. Should the order remain not executed by the specified expiry date, the order will be automatically removed from the market.

If an order has not yet been executed, you may change the price or the expiry date, or even cancel the order altogether. These changes will be applicable only if the order has not yet been executed according to your previous instructions.

Settlement
When an order is executed an order execution note will be sent to you. The order execution note discloses the information related to the consideration, including any accrued interest, if applicable, commissions and charges. The amount due to, or from you, for settlement purposes is included in the order execution note.

You will be credited the amount due to you in the case of a sale order, and you will be debited the amount due from you in the case of a purchase order. Unless otherwise directed by the Malta Stock Exchange, all transactions in locally listed securities are due for settlement by 1300hrs on the second working day after the day on which the transaction was effected. Settlement dates for bonds or shares traded on other stock exchanges, will vary depending on the relevant stock exchange. 


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