Investing in Stocks
How is a stock trade executed?
A versão em português desta página está em preparação. Por enquanto, o conteúdo é exibido em inglês.
An investor first opens a trading account with a securities firm and places an order, and the securities firm, as a member of the exchange, submits (quotes) that order to the exchange.
The exchange collects all orders, matches trades according to its rules, and notifies investors of the results through the securities firms. For executed trades, cash and shares are settled on the third day counting the trade date (T+2).
This answer is general financial information as of 14/10/2026, not investment advice. Rules and tax rates change, so please also check the latest guidance from the source institution.
