What statement does not apply to closed (SOD/EOD) instrument status?

The statement that does not apply to closed (SOD/EOD) instrument status is that orders can be modified. When an instrument is in a closed status, typically referring to the time periods at the start or end of a trading day (Start of Day/End of Day), the trading function for that instrument is effectively halted. This includes policies preventing any modifications to active orders, which ensures that the market remains orderly and predictable during this time.

In this closed status, no market data is published, ensuring that participants are aware that trading is inactive. Additionally, because orders are no longer relevant during these periods, any existing quotes for the instrument are automatically deleted to avoid confusion. Finally, since the market is closed, no matching of orders takes place, reinforcing that trades cannot occur until the market reopens, at which point standard trading operations resume. Thus, the inability to modify orders correctly reflects the operational limitations during periods of closed status.