Order filling

[gfresh]

Always wondered this..

How are orders processed by SEATS queued, say overnight, or a weekend?

I know that things are done in an even que basis, meaning if I put in an order for 100 shares, and then a company goes in and puts 10000 order in, my order still is processed before theirs (I believe) on a first placed, first served basis, even though my order is smaller.

How is the price set however? I will put in huge extremes so that it's a bit easier.

Say the SP for a security closes at $4.50 on Friday, and an announcement is put out after close. If I put in a limit order for $5.00 (first say on friday night), and then another company puts in an order for $7.00 (say before opening on monday).. then maybe a lot of other buyers also put in at $7.00 before opening, but later than my bid.. Is my order still likely to be filled at $5.00.. or will the huge demand at $7.00 mean that my order is not met, and the open price shifts towards $7.00 ??

[Prem]

Hey all

I believe a trade can only be processed if both the buyer an seller AGREE on the price for that transaction.

Please correct me if i'm wrong. I'm still a Noob.

[Prem]

Sellers want the best price for their shares. So I think the person who was the first at bidding the highest price will get their order put through first. ( the person who bidded $7.00 , first)

Hope this helps !!

[stoxclimber]

Search for the thread on opening/closing auctions where I explained the process. We really should sticky that since these questions keep coming up.

[Prem]

How exactly do you sticky a thread?