When you invest in a symphony, Composer will automatically execute trades on your behalf based on the symphony's logic. Trades are executed during Composer's trading period, which runs from 3:00 to 4:00 pm Eastern on days the market is open. Composer aggregates trades for all your symphonies and executes them during this period. Your portfolio will update after the orders have been executed.
As an example, if you create a symphony with a daily trading frequency and invest in it, Composer will automatically execute trades in your linked brokerage to follow the symphony's logic every market day during the trading period.
If you'd like to place any new orders—to invest in, sell, or liquidate a symphony—you can do so outside of the trading period. No new orders can be placed during the trading period.
If you place a new order to invest in a symphony for the first time, add an investment to a symphony, or sell a portion of your symphony (i.e., divest), the corresponding trades will be made in your linked brokerage account during the next trading period.
If you place a new order to liquidate a symphony while the market is open and before the day's trading period (i.e., before 3:00 PM Eastern on market days), the liquidation will occur in your linked brokerage account immediately. If you place an order to liquidate a symphony after market hours, the liquidation will take place during the next trading period. If you place a liquidation order at market open, there may be a bit of a delay in your execution, to mitigate volatility and ensure we get a stable price.