Searchlight Innovations Inc T.SLX

RE: RE: RE: RE: RE: RE: Very strange trades today

[mouserman]

Yes that is correct, in Canada at least the orders are to be filled  in order of the bid price, they dont skip over  big orders to fill at a lower price. I do note that at times they will skip over orders that have been there longer to fill in house( at the same price), and at times orders under the minimum bidlot size are ignored. I am not sure how exactly these Automated Trading Systems ( ATS) work,  other than i have been told they are less expensive for the big banks and brokerages  to use and are faster.
It certainly appears to me that something was flawed in the trading systems on friday, as i looked 5 minutes prior to the 16K share dump and there was at least 200,000 shares in several multi house bids between  .65 and 72 .
I cannot confirm that all those houses dropped their buy orders within a few mintues of the dump, but i find it hard to believe. As you could see within a few minutes there was a big bid at .73 again.