Questions tagged [order-execution]

Order execution is the process of accepting and completing a buy or sell order in the market on behalf of a client. Order execution may be carried out manually or electronically, subject to the limits or conditions placed on the order by the account holder.

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After hours matching

I put in an after hours sell order, well below the standard hours and after hours ask, on a liquid Dow futures security. The transaction did not complete. I looked in the ledger detail and found that ...
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What are “Other Orders” in order routing reports?

I was reading Robinhood's SEC Rule 606(a) disclosure report (Robinhood Securities - Held NMS Stocks and Options Order Routing Public Report) for Q1 2020. For orders on S&P 500 stocks in January ...
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Can brokers fill my OTC stock orders by “trading through” and executing at inferior prices?

I am aware that FINRA-registered broker-dealers have to follow FINRA Rule 5310 (Best Execution and Interpositioning). But are OTC stocks (OTCQX, OTCQB, OTC Pink) subject to the Order Protection Rule ...
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Is front-running allowed under PFOF?

I'm reading this introduction to PFOF. https://centerpointsecurities.com/payment-for-order-flow-guide/ It claims that those buying flow are allowed to front-run that flow. For example, if a customer ...
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How can I compare the order execution quality between two brokers if they don't follow the Financial Information Forum (FIF)'s template?

As explained in https://www.stockbrokers.com/guides/order-execution (mirror), the information present in SEC Rule 606 reports don't allow to compare the order execution quality between brokers. As a ...
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Whose limit gets prioritized?

Imagine a stock with a high spread with only 1 buyer and 1 seller. If the stock is $1, and the seller ask is $1.10, and I am the buyer. And assume I do not know the book for the stock. If put in a ...