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Thread: Order filling

  1. #1
    gfresh's Avatar
    Join Date
    Jun 2007
    Brisbane, QLD

    Default Order filling

    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 ??

  2. #2

    Default Re: Order filling..

    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.

  3. #3

    Default Re: Order filling..

    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 !!

  4. #4

    Default Re: Order filling..

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

  5. #5

    Default Re: Order filling..

    How exactly do you sticky a thread?

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