partial execution

If I place an order to purchase 1,000 shares of a particular stock and the order is filled on three separate executions (say, for example, 200 shares, 500 shares, and 300 shares), will I be required to pay three commissions?

If you place a limit order for a security and get multiple executions in the same trading day, you will incur only one commission. If the same order is executed over multiple trading days, you will incur a commission on the executions each day. A way to avoid this problem is to ask your consultant to execute the trade on a cents-per-share basis to take the guesswork out of your cost.

Richard S. Campbell, CIMA^®, Senior Vice President, Wealth Management, Portfolio Management Director, Smith Barney, Valdosta, GA