Order executed while market closed

Hi I just had two orders for ABML executed an hour before the market opened (TOTV).
How is this possible when you don’t have out of hours trading?
Thanks (I made a profit).

ABML trades on OTC Markets exchange which is already open (for 2.5hrs already), not sure why it shows as closed in 212. Maybe a member of staff can help with this.

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I use Webull to check pre and post markets and it’s closed on there for ABML
Weird.

You are correct… @Rumen any chance you could shed some light here?

Nobody is sure as of yet. I’m sure T212 is working on it, along with a response. They are aware.

Edit: I’m betting some internal system time wasn’t synced correctly because of the early close on Thursday. All trades happening are OTC, which in this context is between T212 users I believe.

IB could route the order for execution if there is sufficient liquidity even outside the market hours for OTC stocks portrayed on the platform. Bear in mind that OTC trading does not occur on regulated trading venues.

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@Vedran You have your answer here it seems.

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I placed an order to buy some Quote Media (QMCI) shares before the market opened today. The price when I placed the order was $0.18, and it still is as the market hasn’t opened. However the order has been filled at $0.46 just now. The market still hasn’t opened and trying to place a sell order for a minimum of $0.40 gives the message “The entered price value is too far from the current market price”. Does anyone know what might have happened here? I can’t see anywhere suggesting the market price ever reached above $0.2 let alone $0.46, and as the market isn’t even open I don’t know how it got filled.

See above official response.

Also pre market price:

https://www.marketwatch.com/investing/stock/qmci

Thanks for the help, that makes sense.

The market has now opened and the stock has gone up to $0.21, so still half the price I paid for it an hour ago before the market opened. I don’t think executing trades at prices never visible through the trading 212 platform is reasonable. Is this expected behaviour?

Well this might be an unintended consequence of Pre market trade. But for sure price was 0.46$ in pre market.

https://www.nasdaq.com/market-activity/stocks/qmci/pre-market

You can clearly see trade at 0.47$

Apologies if this is in the wrong section. This also may be a stupid question but I’m nee to this.

This morning just before the market opened I ordered 3.5k of $taug stock at around 0.037. So I deposited £100 as I had some change left in the account.

I’ve gone on to check and the figures don’t add up. In transaction history it’s saying the order was executed at 0.06! They then sold 2.5k of shares on my behalf at 0.043 to stop acoustic going into negative balance.

Anyone any ideas? Cheers

Did these happen before market open, and I assume a market order?

Pretty annoying I think it’s bought pre market and then had to sell because it took such a high value to prevent a negative balance.

I didn’t realise it was so high pr market I also didn’t know they executed orders pre market. The price was shown at 0.0375. Usually executes bang on 2:30pm?

So from my £100 deposit I now have stock worth £39 and £10 free funds.

Live and learn I suppose! Thanks for your help!

@David @Rumen can you confirm if T212 have started filling outside of trading hours? Is this a new thing? I’ve seen one other thread mention it recently and nothing prior to that.

If you see the above it’s taken a market order at the ask during premarket rather than the usual 2:30pm. Unfortunately in this case a very bad deal indeed.

Are T212 going to be showing premarket data soon?

Read above, explained by t212.

Appreciate the response. Any idea if pre market data will be shown soon? Seems a bit of a dull one to take! Thankfully it wasn’t a big amount.

Damn son, sorry to hear about the loss. I’m not sure if premarket data will be added to invest or not, but you can view them on the CFD account.

Just to be clear, this is only for OTC stocks that the orders might execute premarket, and I’m guessing post also?

OTC is off book so if there’s someone wanting to take the other side then that can happen at any point on any stock.

Worth using something like TradingView instead to show trades out of hours or better WeBull. The ASK or BID in CFD has T212 spread applied so can give a weird impression.

@Rumen is this a new thing of allowing them outside of normal trading hours? I’ve not had an OTC transaction outside of normal hours nor have I seen any mention in threads up until today. I don’t place market orders willy nilly though so it might have always been like that. Just weird two people, same day and no other similar threads.