Limit order on LSE listed SETSSQ stocks

I have put in a few limit orders on LSE stocks that are dont operate on the SEAQ order system, and I always get an ‘order processing’ thing until the order goes through.
Why is this? I cannot even cancel or edit the order which means im out of control, and I dont want to contact you by chat every time I would like to change the order.

I understand its something to do with the stocks not being on SEAQ but why cant you sumbit the order or allow me to edit/cancel it?

Here is an example from today:

As you can see the x is greyed out and I dont feel in control of the order, I may have just cancelled it and put it through as a market order but cant do that. Its pretty frustrating

GGP is SETqx… so subject to the intradday auction… lots of talk and examples on this on this forum it… search the forum to find the old posts on SETqx…

Thanks for that. On my other broker though I can sumbit the order and then have the option to cancel it, I dont see why I cant cancel it which kind of means I lose control of the trade.

On GGP you are better off taking the risk with a market buy which is usually instant.

Processing usually means your order has been submitted, and is with the exchange so at that point cannot be cancelled. That’s my understanding, I may be quite far off the mark.

I think from an earlier conversation with @David is that when you place an order, that goes to IB and then to the exchange. The exchange then lets IB know its placed (but not yet executed) and IB then let T212 know. At that point they can show the cancel button as they have a reference that can be used to send the request again to IB to the exchange to cancel it. Obviously if it executes quickly then you have no chance to cancel.

GGP is a bit of a weird one from experience, T212 did have it so that limit orders were instant at one point. Its now swapped to the set auction times which is rubbish unless you are very lucky that the price is still where you want it at those five points within the day.

GGP Market orders I’ve found to be instant, so I’ve found it easier to watch the candle charts and take the risk, than lose out from the price shifting away.

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Interesting stuff… by IB are you referring to Interactive Brokers who are putting the orders to the exchange?

yep, essentially T212 is riding off of their backend service. Just in the same way when a stock is requested it’ll need to be requested on IB.

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