SETS QX procedure

Do orders in Sets-Qx securities only get traded in the uncrossing auctions through Trading 212?

The stock I’m interested in seems to trade on a fairly continuous basis throughout the day, but my orders through T212 only seem to get matched in the auctions.

I would have thought the process would be something like this?

  • receive limit order
  • Check market maker quotes, if there is bid/ask volume at/better than limit order price then trade it
  • if there isn’t liquidity at the order price, then wait until there is, or if nothing shows up then place order into the uncrossing auction.

Appreciate any info you can give me!

@Hens10 We don’t rely on market makers, orders get executed only during uncrossing auctions.

Working on changing that for the future.

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Can you explain please David how you plan to change that in the future?

@saifali By working with market makers who’d be able to execute outside uncrossing auctions.

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If I understand correctly T212 will introduce external MMs who’ll sit between us retail investors, to increase liquidity?

I mean within your own network/orders?