Each time I buy or sell any stock from LSE AIM, it shows as pending order and does not execute for long time. As a result I loose my original rate. Why is this? Anything I buy from LSE, it executes immediately. I use the same procedure. Can someone clarify and if there is any solution?
It won’t necessarily be all AIM stocks… it will be those that trade via Intraday auctions… those on the SETSqx segement (which is a lot of AIM, but not all)
Intraday auction is a mechanism to match buyers and sellers on the order book at that time… rather than have a market maker making a live 2 way price … lots of talk of it on this forum if curious
I don’t mind whatever mechanism is adopted to execute the order as long as they honour my price.
If you specify a price via a limit your order is entered onto the order book for the next “uncrossing”. If the book uncrosses within the price you specify you get that price. If not your order doesn’t execute. If you do not specify a price you’ll get the uncrossing price on the basis there is sufficient liquidity on the other side that your order can be executed.
In short - you get your price… it is illegal for T212 to do anything else… they would not, they should not, they will not.
You are however at risk of the order not executing. Either through no volume or your limit price not being met. Be aware of this when executing SETSqx trades. You have no visibility unless you have lots of level 2 market data and can watch the action. If not you just have to wait until T212 update your account… or not.
Thank you for your suggestions. I did that but unfortunately it did not execute and it automaticaly removed from pending. I set ‘end of day’. I have requested again with ‘gtc’.
There is no guarantee of execution with T212 using the intraday auction for SETSqx stocks… there’s almost nothing you can do to make it happen…it either does or it doesn;t… you can’t control it.
I did not “suggest” anything.
Merely providing info to explain why your trade is not executing.