Iāve had an order thatās been stuck in āProcessingā for 1hr20 now. I canāt cancel or update it because the record is greyed out/disabled in Pending Orders.
PHE:LSE
It appears to be āunstuckā now. It would be interesting to hear why it was stuck for so long though.
Google Setsqx
Thatās your issue.
Okayā¦ but Iām not sure that that makes sense? I donāt fully understand it but from what I gatherā¦ that it means buy/sell orders are processed by the exchange in intervals/at certain times of day?
If that is the case, it doesnāt make sense that T212 had the order in their āProcessingā state. If they had submitted it to the exchange then I would have been able to cancel it.
No you donāt understand then.
Low liquidity stocks such as yours essentially have the numbers grouped together and processed together to heighten the chances of having a buyer and a seller in the deal (thus the trade doesnāt fail).
These āauctionsā only happen at set times of the day, but the minute you press submit T212 submit it to the book - it cannot be taken away as it is now grouped and ready to be executed when possible.
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Hmm okay, thanks for explaining
So 15minutes or so after my first order was finished āprocessingā I placed a second order; that one was processed right away and filled no more than a minute later.
The only apparent difference was the first was a limit order and the second was a market order. Would SETSQX account for that?
Probably. They auction at 8am, 9am, 11am and 2pm (iirc).
A limit order is pretty unlikely to ever execute on a SETSqx auction imo, to illiquid unless thereās a great RNS released causing a sudden increase in liquidity.