Question

Order modification can be performed:

• A. any time
• B. only during market hours
• C. only after market hours
• D. only on weekends

Hint:

Order modification is allowed only when the market is open — plan changes within trading hours.

Answer 1

The Correct Option is B

In the NEAT system, order modification refers to the ability to change the details of an existing order, such as:

Price
Quantity
Order type (within limits)
However, this modification can only be done when the exchange is actively operating — that is, during market hours. Once the market is closed, all unexecuted orders are either carried forward (if allowed) or expire, and cannot be modified.
Explanation of Options:

(A) any time: Incorrect — modifications cannot be made outside of trading hours.
(C) only after market hours: Incorrect — the system does not permit changes after closure.
(D) only on weekends: Incorrect — the market is closed on weekends.
Hence, option (B) is the only correct choice.