Currently, it is necessary to cancel the order and enter a new order with the desired characteristics (and therefore users have to obtain approvals again).

Through the new functionality, users may change the order without having to cancel and enter a new order and without having to request new approvals.  

Characteristics:

I. Only allows changing the price/rate (either up or down).

II. Allows changing to a smaller quantity.

III. Other changes (larger quantity, validity, etc.) users will have to follow the current flow, i.e., canceling and entering a new order.

Currently, users have to select each order they wish to aggress, and it is not possible to “scrape” the book.

The order will be executed automatically (in the same way as an aggressing/market order) at a limited price or, better, established by the investor.

Characteristics:

I. Price and quantity: investor needs to define maximum price and desired quantity.

II. Conditional execution: the limited order will only be executed if the established conditions are met (price and quantity).

III. Execution priority: book orders will be processed according to a defined priority order.

IV. Remaining quantity: if there are no orders available that meet the desired criteria, an order will be created in the book with the remaining quantity and the set maximum price.

A specific type of lending or borrowing order that establishes a condition for the execution of the trade. In other words, this functionality will ensure that the order is only valid at the time it is entered, thus ensuring full execution or cancellation of the order. In this case, the order will only be executed if the total number of stocks desired by the investor can be lent or borrowed at once.

Characteristics:

I. Full execution: the order will only be executed if it can be fully met (in quantity and price).

II. Automatic cancellation: if the order cannot be executed in full, it will be automatically cancelled.

III. Hedge against partial trades: protects the investor against partial trades, i.e., prevents the investor from lending or borrowing only a part of the desired quantity of the asset.

Today Custodians are unable to correctly validate the manager's orders, since they do not have sufficient information to identify the Executing Participant in lending trades. An optional field will be created whereby the Custodian receive information about the Executing Participant’s ID in trades carried out in the securities lending market, thus facilitating their daily trade validation routine. Such information will be available via messaging and via electronic trading platform.