Order purged?

[mervco54]

does any one know what purged from the market mean
when you have put in a order for stocks? tanks

 

[PZ.]

Usually means it's reached its expiry date.

 

[mervco54]

Usually means it's reached its expiry date.

tanks

 

[pixel]

does any one know what purged from the market mean
when you have put in a order for stocks? tanks

A few more reasons why orders can disappear:

When a company is suspended - as opposed to merely a 2-day trading halt - all orders will also be purged before trading resumes. Usually, announcements that end such a suspension will have a high impact that requires investors to re-evaluate their buy or sell levels.

When the company splits or consolidates its shares, or when a new issue or capital return alters the share ratio and/or cost base, old orders will also be purged because they are deemed to be based on the old, now superseded valuation.

Some brokers will purge a particular order if it's too far away from the current trading range. Or they have a default expiry date, e.g. 3 weeks from the day the order is placed. If the order still hasn't been completely filled, it will be purged on time-out. You need to check with your broker about the time limits.

 

[Knobby22]

Also dividend.

 

[pixel]

Also dividend.

Really?
None of my brokers have done that.
It might happen if it's a substantial cap return or merger-related. That I can't remember. But on ex-day of normal dividends, I've never seen the market depth board wiped in the morning.

 

[VSntchr]

Really?
None of my brokers have done that.
It might happen if it's a substantial cap return or merger-related. That I can't remember. But on ex-day of normal dividends, I've never seen the market depth board wiped in the morning.

You sure? I always have my orders purged on ex-div morning.

 

[Knobby22]

Comsec do.

 

[pixel]

Comsec do.

Apparently, I'm very wrong about this. I have taken snapshots of today's after-Close market depth tables for HHL and SHL. Shall compare tomorrow pre-Open to see how wrong.

View attachment SHL-HHL mdAfterClose 02-03-16.xlsx

 

[craft]

See this page for ASX trading status codes, includes purging information. XD (ex-dividend) are purged.

http://www.asx.com.au/prices/status_notes.htm

In addition your broker may have expiry parameters, ie good for a day, standard 30 day expiry etc which could cause the order to be purged.

 

[pixel]

See this page for ASX trading status codes, includes purging information. XD (ex-dividend) are purged.

http://www.asx.com.au/prices/status_notes.htm

In addition your broker may have expiry parameters, ie good for a day, standard 30 day expiry etc which could cause the order to be purged.

Thanks Craft,
and apologies to Knobby and VS: I got it wrong.
At 9am, HHL has only one buy order left. Although it's the same odd size as yesterday, the owner will have renewed it early this morning. SHL's orders are already quite numerous, but the md is completely different from last night's.
The purging appears to be done about 2 hours before Market Open. Here in the West, that's way before breakfast. By the time I look at any depth screen. new orders are already placed.

"How embarrassment!" - after all those years of trading, I never noticed

View attachment SHL-HHL mdPreOpen 03-03-16.xlsx

 

[Gringotts Bank]

When entering an order on ASX, how close to the last price does an order need to be in order to avoid being rejected (due to being too far away)? Is it a % calculation? Who sets the rules on this - the broker or the ASX?

Thanks.

 

[Roller_1]

When entering an order on ASX, how close to the last price does an order need to be in order to avoid being rejected (due to being too far away)? Is it a % calculation? Who sets the rules on this - the broker or the ASX?

Thanks.

I think it's broker related, i use IB and i think the limit is 10% either side. example i place a sell limit order below the last close to have the order filled in the opening auction. I had a order rejected once for being further than 10% away. But i know with some other brokers the limit is much less around the 3-5%

There's lots of "I think's" in there but that's my understanding.

 

[Gringotts Bank]

thanks roller.


Anyone know the rules and who sets them???

 

[investtrader]

Bump ...
I have started trading a new system in the last little while and I am using profit targets. I place sell limit orders on all positions. Some are getting purged. I can't find exactly what the criteria are? ( I have noted the ex-div reason above and it's not that).
I have searched the ASX website to no avail. My profit targets vary in % amount (based on ATR).
It seems that no one really knows from the above discussion.
Any ideas anyone?

 

[tech/a]

Can’t answer the actual reason other than the likes of IB 10 % rule

I have an alarm set at a target price which could be a sell price if I choose or and most likely —- time to look and consider.

Then I place a stop limit sell or buy if needed.

 

[investtrader]

Thanks, tech - Just looking for a lazy way out.........

Although lots of time this weekend stuck at home

 

[peter2]

I've had a quick look around and didn't find anything definitive other than the commonly known cases when the orders are purged (div, halt, suspension). My opinion is that brokers interpret the "ASX must have an orderly market rule" differently. Some brokers allow orders at close +/- 10%, some don't. I've had orders purged after a set number of days. Different periods of expiry with different brokers.

 

[Smurf1976]

Some are getting purged. I can't find exactly what the criteria are? ( I have noted the ex-div reason above and it's not that).

Wouldn't be the first time I've had either a buy or sell limit order purged randomly in the middle of the night with no obvious explanation as to why. You're not the only one to have it happen.

 

[Kids inheritance]

Can anyone shed some light on the question below please?
I place a sell order with my platform and it seems to never get filled, when i question it with the platform they refer to the market depth, what does that mean...? When i want to sell at the right time (to make some money) but cant i lose money... can you help?