Why do I get the message "Transactions in this instrument are limited to closing-only trades" when I try to buy certain stocks?

There are a number of conditions which change the status of a product that at one time was freely tradable to later being restricted to closing only. One of the most common causes is a change in a stock's listing that causes it to no longer be continuously quoted on an electronic market. Another is a change to the clearing status whereby the stock can no longer be settled or cleared through standard clearing mechanisms, but rather requires special broker-to-broker bilateral settlement. In these circumstances, MEXEM will allow the client to close an existing position, but will not accept orders which either serve to open a new position or increase the existing position.

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