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 ??