• Print
  • Default text size A
  • Larger text size A
  • Largest text size A

1-Second Execution Guarantee

Fidelity is committed to obtaining a fast trade execution for our customers at the right price. Qualifying market orders on the S&P 500® will be executed at National Best Bid or Offer (NBBO) in 1 second or less, or they are commission-free.

How we execute your trade

Execution speed for the 1-Second Execution Guarantee is measured from the time Fidelity accepts and routes your order (Step 2) to the time the order is executed by the market center (Step 4). It is not uncommon to receive delayed execution reports from market centers (Step 5) even though your order has already executed.

Eligible orders

To qualify for Fidelity’s 1-Second NBBO Execution Guarantee, brokerage orders must meet the following criteria:

  • They are market orders to buy, sell, or buy-to-cover stocks listed in the S&P 500® Index.
  • Share quantities are 1 to 1,000 shares on orders entered between 9:45 a.m. and 3:59 p.m. ET. If the markets open or close outside of standard hours, acceptable order entry times will adjust accordingly.
  • Eligible orders can be entered on Fidelity.com, Fidelity Active Trader Pro®, FAST®, acceptable wireless devices, or through a Fidelity representative.

Exclusions

Certain order types are excluded from the 1-Second Execution Guarantee:

  • The guarantee does not include short sell orders, extended hours orders, directed trading orders, or orders on stocks trading under $1.
  • Market orders are day only; other time-in-force designations such as good ’til canceled (GTC), fill or kill (FOK), immediate or cancel (IOC), on the open, and on the close are not eligible. Order conditions such as all or none (AON), do not reduce (DNR), and all or none/do not reduce (AON/DNR) are not eligible.
  • Orders entered within 20 seconds on the same security on the same side of the market are not eligible. Orders in which there is an attempt to cancel, or cancel and replace, are not eligible.
  • Certain market conditions will affect the guarantee, including locked or crossed markets, orders entered when a security has halted trading, orders that have been stopped for price improvement, and orders entered during fast market conditions.
  • Any order received for more shares than the quoted size, orders received when the primary market was bidding or offering only 100 shares, and subsequent orders filled as a result of a partial execution are excluded for NBBO qualification.
  • Orders entered during system or communication problems at Fidelity or the market center where the order was routed for execution do not qualify.

More information

Fidelity reserves the right to restrict or revoke this offer at any time.

The S&P 500® list of securities qualifying for this guarantee will be reviewed and updated quarterly.

When applicable, commissions will be automatically waived and applied to the order entered.

Questions?

Skyline-Right-Rail
Trade Execution (6:16)

Watch this brief video to learn more about the trade process and why it is so important.

System availability and response times may be subject to market conditions.

433177.6.0