Current stock price is $9 and I want to send in a buy limit order for $10.10 after price reaches $10.05? When I create and submit such order, how close to the exchange does it get before it stops pending the price change?
- Is it kept on my brokers server?
- Market maker server?
- ECN server?
Or actual exchange?
Will it trigger as soon as stock is traded at $10.05 or when there is 10.05 on the bid/ask?
I believe there is no way others can see such pending orders or do specific brokers resell this information as well? I understands that when the stop price is "hit", such order is transformed in a normal limit order but I wish to know how much latency is there between such order and the exchange and if there is any FIFO-like queue for pending stop-limit orders?
Edit: Turns out these orders are long gone. https://www.marketwatch.com/story/nyse-joining-nasdaq-in-eliminating-stop-orders-2015-11-18 So that eliminates exchanges as possible final destinations of such orders.