Overview
Features of the Window
Exchanges and Cross Fund Family Orders
Field Definitions
Enter an order for a mutual fund security. The valid order actions are Buy Fund, Sell Fund, and Exchange Fund. If you are entitled, other order actions are Buy Wire, Sell Wire, and Cross Fund Family.
A number of features built into the ticket are designed to provide access to the tools and information that support the order process.
Account Search
At the top of the window, locate other accounts to enter orders without leaving the ticket.
(Search for Accounts)
Account Cartridge
Below Account Search, view account information, balances, and firm and investment information
for an account. (Account Cartridge)
Quote
After you enter a valid symbol or CUSIP for a security, access its quote information or security details.
Positions-Open/Unrealized
In the panel at the bottom of the window, view open/unrealized positions for an account. By default,
mutual fund positions display, but you can change this to view other positions including
All Securities, Equities, or Options.
Prefill Orders
In the Security ID column, select a link to display a menu of order actions to choose from. For a mutual fund, choose Trade, Buy Fund, Sell Fund, or Sell All. Fields that prefill include Action, Quantity (if Sell All), and Symbol/CUSIP. Additional prefills are based on your Trade Preferences. (Set Trade Preferences)
Orders-Unsent
View unsent orders for the current account or for all your authorized accounts. By default, unsent mutual fund orders display, but you change this to view All Securities, Equities, or Options.
Manage Orders
From Orders-Unsent, you can edit, delete, and send selected orders. If you choose a single order
containing a Lock or Error icon in the left-most column, the Send Selected Orders button does not activate. Position your pointer over an icon to view its message.
Due to longer settlement periods, some funds may not be eligible for exchanges and cross fund family orders.
Exchange Fund Order (Same Fund Family)
All funds owned by one company are considered to be in the same fund family. This means all Fidelity Funds are in the same family, as are all Janus Funds. When you exchange funds, you sell shares of a fund you own and use the proceeds to buy shares of another fund in the same fund family. The settlement date for the sale is the same as the trade date. Therefore, the purchase takes place on the same date as the sale. For example, if you sold shares of the Fidelity Asset Manager Fund, you could use the proceeds to buy shares in any other Fidelity Fund. However, you could not use these proceeds to buy shares of a fund in another fund family, such as a Janus or Vanguard Fund. To perform this transaction, you must perform a cross fund family trade.
Cross Fund Family Order (Different Fund Families)
Funds owned by one company are considered to be in a different family than funds owned by another company. This means Fidelity Funds and Janus Funds are in different families. When you perform a cross family order, you sell the shares you own in one fund family and use the proceeds to buy shares in another fund family. Although submitted as one transaction, a cross fund family order is actually two: a sell order, which generally settles on the trade date, and a buy order, which generally settles on the next business day after the sell order's settlement date. In comparison and as noted above, when you exchange funds, you sell shares of a fund you own and use the proceeds to buy shares in another fund in the same fund family.
Select Trade > Order Entry > Mutual Funds.
- If prompted, search for an account. (Search for Accounts)
Select the Action:
BF-Buy Fund
SF-Sell Fund
If entitled:
EF-Exchange Fund
CF-Cross Fund Family
BW-Buy Wire
SW-Sell Wire
Enter the Quantity of the order.
- To fully liquidate all shares, leave this blank.
- To buy shares, enter the dollar amount.
Choose the Quantity Type:
D-Dollars
S-Shares
F-Full Liquidation
- If Buy Fund, Buy Wire, or Sell Wire, quantity type is D-Dollars.
Note
If you sell a specific number of shares, trailing dividends are not included. If you liquidate the entire position and want to include the trailing dividends, select Full Liquidation. Fidelity Funds and NSCC-Networked Funds are eligible for full liquidation. For these fund types, a full liquidation sells the position across cash and margin account types and includes trailing dividends. Omnibus funds are not eligible for full liquidation. For this fund type, the full share amount of the selected holding and account type are sold, and trailing dividends are not included.
Enter the Symbol/CUSIP and press Tab. (Symbol Lookup)
If Action is Exchange Fund or Cross Fund Family, enter the From Symbol/CUSIP and To Symbol/CUSIP.
- Links to access quote and security details now display.
Select the Account Type:
Cash (1)
Margin (2) (Not available for Buy Fund)
Enter any remaining order information. (Field Definitions)
If Action is Sell Fund, Exchange Fund, or Cross Fund Family, to indicate an alternative cost basis disposal method other than the method already established for the account, choose a Transaction Disposal Method. (Cost Basis Disposal Method)
- If you select Specify Shares, skip to: Specify Shares to Sell.
When all fields are completed, choose one of the following. If errors occur, incorrect fields are highlighted. Enter corrections before attempting to proceed with the order.
Save
Saves the order to the Orders Unsent window to be sent later.
Verify
Verifies whether errors exist that may block the trade. If no errors, a Verification window displays trade details to review before proceeding with the order. To make changes, select Edit. To send the order to the market, select Send Now.
Send Now
If entitled; bypasses the verification step and sends the order to the market.
Continue with the steps below after selecting Specify Shares as the Transaction Disposal Method for the order.
The cost basis disposal method you designate on the order ticket is used just for this specific order and does not replace the account's established cost basis disposal method. If entitled, use this capability on a closing transaction to deplete specific tax lots held by the account.
Override of the account-level disposal method on an order does not apply to:
- Opening transactions.
- Retirement accounts.
- Orders in account type 0 (DVP/RVP).
- Positions with an Average Cost (ACSC) method.
- Lots purchased intra-day.
Shares identified in a specific share order will be reported on the customer confirm if the order fills. Shares left unspecified are depleted using the account-level cost basis disposal method. Note, too, for a specific share order, you cannot save the order to send later; you must send the order now. (Tax Lot Depletion Hierarchy)
- Prefill Open Shares
- Enter Shares Manually
This window displays only if the position is in good order (IGO) and cost basis is fully or partially known. If partially known, only known basis lots display.
To prefill open shares
On the order ticket, select Continue & Specify Shares.
From the Prefill Selections dropdowns, indicate how to prefill open shares to sell. Select one or both choices.
- From Prefill by Selections By Holding Period, select an option:
No Preference (Default)
Prefill lots by First In, First Out (FIFO) method.
Short-Term
Prefill lots held one year or less first.
Long-Term
Prefill lots held greater than one year first.
- From Then By Cost, select an option:
No Preference (Default)
Highest Cost
Prefill lots with the highest cost per share first.
Lowest Cost
Prefill lots with the lowest cost per share first.
Minimizing Gain/Loss
Attempt to identify high cost and low cost per share. There is no guarantee that gains, or losses will be offset, in whole or in part. Results can vary.
Select Prefill.
- The Shares Specified column indicates how lots will be sold.
- Enter changes to Shares Specified, if needed.
- Running totals reflect shares specified vs. total shares in order.
- Shares remaining are depleted using account's disposal method.
Select Verify.
If the order is validated, the Verification window displays, which allows you to review order details prior to sending the order. If no errors are reported, select Send Now.
Go to: Search for Sent OrdersFidelity provides cost basis and associated realized gain/loss information as a courtesy service. Such information may not reflect all adjustments necessary for tax reporting purposes.
To manually specify the shares
At the bottom of the window, select Specify Shares.
In the first available Shares Specified field, enter the number of shares to deplete from the lot.
In the Date Acquired field, enter the date the shares were added to the Fidelity account.
In the Cost Basis/Shares field, enter the price per share at which the shares were purchased.
If shares were purchased over multiple dates or at different prices, you may split the lot into multiple lots. For example, if the quantity with unknown cost basis is 200 shares, which represents 2 separate purchases of 100 shares each, enter cost basis for the first 100 shares, then enter cost basis for the remaining 100 shares in the next row.
- Continue specifying all shares in the order.
- To add another row, select Add Row.
- To clear entries and start again, select Clear.
- Shares Specified plus Shares Remaining must equal Total Shares.
Note
If known lots do not prefill the table, you may enter the known lots manually or submit a Service Request to identify the shares. (Initiate a Service Request)
Select Verify.
If the order is validated, the Verification window displays, which allows you to review order details prior to sending the order. If no errors are reported, select Send Now.
Go to: Search for Sent Orders- Mutual Funds Order Entry
- Specify Shares
| Field | Definition |
|---|---|
| Account Type | The account type involved in the order: Cash (1)
|
| Action |
The order action: BF-Buy Fund
If entitled: CF-Cross Fund Family
|
| CDSC Waiver |
A Contingent Deferred Sales Charges (CDSC) is a back-end load tied to a specific time frame. This field is entitled and applies to Third Party Administrator (TPA) mutual fund orders only. No Waiver
|
| Client Confirm Note |
The power of discretion for this order action. This information displays on the trade confirm. "None" is the default. None (Blank)
|
| From Symbol/CUSIP | For Cross Fund Family and Exchange Fund orders, this is the fund you are selling. (Exchanges and Cross Fund Family Orders) |
| NAV Reason Code |
The reason code for why the fund is being traded. This field is entitled and applies to Third Party Administrator (TPA) mutual fund orders only. 0-NAV Other
|
| Quantity | The quantity of the order in dollars or shares, based on the Quantity Type selected. - Must be a decimal number greater than 0.
|
| Quantity Type | Indicates whether the order is in Dollars (default), Shares, or Full Liquidation.
|
| Redemption Fee Waiver | For Sell Fund, Exchange Fund, and Cross Fund Family orders, this is the reason to waive the short-term redemption fee, if entitled: No Waiver
|
| Symbol/CUSIP | For Sell Fund and Buy Fund orders, this is the fund involved in the trade. |
| To Symbol/CUSIP | For Cross Fund Family and Exchange Fund orders, this is the fund you are buying. (Exchanges and Cross Fund Family Orders) |
| Transaction Disposal Method | For Sell Fund, Exchange Fund, or Cross Fund Family orders, this is the alternative cost basis disposal method for this trade only. You may instead choose to specify shares to sell. The method you designate on the ticket is used for just this specific order and does not replace the account's established cost basis disposal method. (Specify Shares to Sell) |
| Field | Definition |
|---|---|
| Shares Specified | If using the cost basis information that Fidelity is tracking, this is the number of shares from the tax lot to appoint for the specific share trade. |
| Shares Available | The available tax lots for the position. Each tax lot displays an available quantity. |
| Date Acquired | The date the shares were added to the Fidelity account, in MM/DD/YYYY format.
|
| Lot Basis | The total cost basis of shares in the position: Shares Available x Cost Basis/Proceeds per Share |
| Cost Basis/Share | The calculated cost of one share of the security. Cost basis is generally the original amount paid for shares of a security, including the amount of reinvested dividends and capital gains, plus or minus certain adjustments such as fees and commissions paid at the time of purchase. If the position is held short, this amount represents the proceeds per share. |
| Unrealized Gain/Loss | The hypothetical value of the gain or loss that would be realized if shares were sold at the indicated price. |
| Holding Period | How long the shares were held since their acquisition date: Short
For stock option grants, this refers to the amount of time the stock options must be held before they can be exercised. The holding period requirements for stock options are described in the vesting schedule for your stock option grant. |
| Cost Basis Source | The origin of the cost basis information: Fidelity
|
The following table demonstrates the hierarchy for depleting tax lots with known cost basis. For certain situations such as lieu sales or voluntary reorganizations, Fidelity depletes shares proportionality from all available tax lots
| Hierarchy | Situation | Process |
|---|---|---|
| 1 | Specific Shares/Contracts Request | If you identify specific tax lots for depletion, Fidelity first seeks to deplete the shares or contracts according to that request. |
| 2 | Advisor-Specified Account Disposal Method | If no specific shares or contracts are identified, Fidelity depletes the shares or contracts based on the cost basis disposal method established for the account on behalf of the customer. Unknown shares are depleted last. |
| 3 | Fidelity Default (FIFO) | If no specific shares or contracts are identified and the account does not have an established cost basis disposal method, Fidelity defaults to FIFO for individual securities and for securities in DRIPs. Unless otherwise specified, Fidelity will use average cost for open-end mutual funds. Note
|
¹Fidelity provides certain cost basis and holding period information to you and to the IRS on your annual Form 1099-B and provides other cost basis and associated realized and unrealized gain/loss information as a courtesy. Such information may not reflect all adjustments necessary for tax purposes. Taxpayers should verify cost basis, associated gain/loss information provided by Fidelity against their own records when calculating reportable gain or loss resulting from a sale. Although Fidelity reports certain cost basis information to the IRS, Fidelity is not responsible for your use of this information in meeting your federal, state, and other tax obligations. Fidelity makes no warranties with respect to, and specifically disclaims any liability arising out of your use of, or any tax position taken in reliance upon, Fidelity-provided cost basis and gain/loss information.
Fidelity determines the appropriate cost basis method for calculating gain and loss based on positions held at the time of sale. Unless otherwise indicated, Fidelity determines cost basis using the average cost method for open-end mutual funds. For securities other than open-end mutual funds, Fidelity determines cost basis using the first-in, first-out (FIFO) method if Fidelity does not receive appropriate specific share instructions. Fidelity determines cost basis using the specific share identification (SS) method if Fidelity receives appropriate specific share instructions; however, such cost basis information may not correspond to a customer's cost basis information records if a customer used the specific share identification method prior to the time that such method tracking was made available by Fidelity.
Customers should consult with their tax advisors for further information.
885606.1.0