TSXV:SLX.P - Post by User
Comment by
sunwoodon May 28, 2011 2:50pm
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Post# 18639688
RE: RE: RE: RE: RE: Very strange trades today
RE: RE: RE: RE: RE: Very strange trades todayHello Mouserman!
Please help me understand ... If I offer to sell, say, 10,000 shares on I*Trade at a price 5 cents below the highest bid, it's my understanding that it will be filled at the highest bid, and then the next highest bid etc untill the order is filled.
In the past, I have bid at higher than the "sell' price, and found that my order was filled at the sell price. An official at the SEC explained to me that my order took precedence because I was willing to pay more. You could say, I went to the front of the line.
Does that apply to all brokerage houses, or do ATS Alpha and ATS Pure work on a different system?
sunwood