Expected time til execution on market order short sent for review

B

birdman

Scenario is ... using a broker like Ameritrade ... placing a market short order on the highest average volume traded ETF ... with price movement less than 10% on the day (no uptick rule in effect) ... when i short with market order ... order status shows "Order being Reviewed" briefly instead of simply "Filled" as with long orders.

Question - what length of time do you find it common for such an order to be "Reviewed" before being filled?
 
They review orders manually whenever they are somewhat large compared to either the available funds in the account or the liquidity of the stock. For shorting, there may be additional delays to locate shares to borrow. It takes about 1-2 minutes to get approved, sucks.
 
Yep - this was for 20k shares. I ask them if it my account was restricted - they said no, just standard policy applied to all accounts - said they were just checking to see if they had the shares available to short. Shouldn't have been related to liquidity, as i could have bought 3xs that amount of shares and these days, the symbol UWTI is usually the second most traded traded symbol in the market.
 
During these "order reviews" do you get the price at time of the order or the price after the review is completed?

I assume it would be the price after the review is completed.


:)
 
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