If someone accidentally sell stocks for wrong price, is possible reverse the trade ?

[faxike9226]

What happens if someone sell 1 million Google Stocks for 1 cent ?

 

[Robert Morse]

https://www.nasdaqtrader.com/Micro.aspx?id=ObviousErrorPolicy

 

[traider]

What happens if someone sell 1 million Google Stocks for 1 cent ?

Yes if you are the big boys like goldman or hft

 

[schizo]

Knight Capital lost $440 million due to a computer glitch. SEC flatly turned them down when they asked for help.

 

[sprstpd]

Knight Capital lost $440 million due to a computer glitch. SEC flatly turned them down when they asked for help.

I'm pretty sure none of their trades were far enough away from the current market that they would be deemed bustable.

 

[zdreg]

What happens if someone sell 1 million Google Stocks for 1 cent ?

The brokerage firm would never accepts the order from YOU.

 

[schizo]

What happens if someone sell 1 million Google Stocks for 1 cent ?

Seriously, if you were to send in a GOOG "limit" order for 1 cent, I'm pretty sure it would get executed as a "market" order. Whenever the buy order is placed above the ask or sell order below the bid, unless they are "stop" resting orders, they would get executed at the current bid or offer, respectively.

 

[zdreg]

Seriously, if you were to send in a GOOG "limit" order for 1 cent, I'm pretty sure it would get executed as a "market" order. Whenever the buy order is placed above the ask or sell order below the bid, unless they are "stop" resting orders, they would get executed at the current bid or offer, respectively.

Everybody can relax. It is early in the year but I am going end right now my contest for the most idiotic reply on ET.

 

[Robert Morse]

This example of selling a stock at 0.01 should not happen. The order should get rejected. as the limit is more than 10% away from the last sale. https://www.nasdaqtrader.com/TraderNews.aspx?id=ETA2016-172

 

[NewTraderAdventure]

This 1 centers used to happen a lot