execution

[Hamb-ltrd]

Some of the more experienced traders can answer this.

If I have a limit order to buy and the price goes low enough

to be executed I expect the trade to be executed.

It did not, even though the ask price went below my buy limit price.

I call and the response was the system, their servers, was down
so my order was never activated.

Can a broker keep limit orders in teir servers and not send them to the exchange?

Hamb

 

[swoop[TR]]

yes, it's called a native vs simulated order. Some exchanges do not accept the same set of native orders. Nasdaq accepts most of them I think. NYSE accepts a few less.

 

[Hamb-ltrd]

So limit and stop orders depend on the functionality of broker"s server to be executed?

Hamb