This morning I tried to buy on a dip in TILS but given some previous issues with order execution on SETSqx traded stock I did a small trial order first.
It well and truly missed the dip and was stuck on processing for just short of an hour, during which time the share price increased circa 10p. This issue with market order execution on SETSqx traded stock seemed to have been sorted but now I’m worried about placing further orders. As while they are stuck on processing you can’t cancel them. I don’t mind if there are liquidity issues and my order is stuck pending as I can just cancel it should the price move too much, it is the fact it is stuck as processing and I can’t cancel it that is my issue. This is generally a great platform but its just so frustrating not being able to at least try and buy on dips! If there is anything that can be done about it would be much appreciated…
@meb The workaround isn’t implemented for every single SETSqx stock. We’ll look at improving execution for TILS on Monday.
As for the processing, it doesn’t really depend on us entirely since we don’t know what state the order is in until we receive some feedback. When you place an order, we send a message to exchange X. Normally, when we get a “message received” feedback, we confirm that the order has been accepted & you can cancel it or modify it in any way you’d like. However, sometimes, due to various reasons beyond our control, we don’t get a “message received” & thus the order’s stuck. We’re exploring what, if anything, we can do about that.
@David Thank you for replying and looking into this for me. I thought from some of the previous discussions on this topic it was looking hopeful that a workaround had been found for all the SETSqx stock and certainly my market orders for GGP have executed instantly since this time, so I was pretty hopeful it would for others.
I had another go just before 3pm today when it dipped to 107ish but this order stayed stuck on processing until 4:20pm by which time the price was 117ish so I again immediately cancelled it. I guess at least it isn’t executing the second it converts to a pending order so I can cancel it, but sitting in front of your screen waiting is not always feasible!
I’ll try again on Monday and hope that your team can come up with something like they did for GGP, your efforts are much appreciated.