is it ever possible for someone with buy orders BELOW mine to be ahead in queue?

A

applejuice

Hi,

So it has been claimed to me that it is theoretically possible for someone to be ahead of me in the queue, even if my limit order is positioned at a superior price.

"It is possible several lots were traded at and below your limit price, but if your order was not in front of these orders you would not have been filled. This situation can and does occur in live trading."

Sounds absolutely absurd to me.

??

e.g.
PRICE MOVES DOWN

offer
offer
offer
my bid <--- not filled
bid <---- filled
bid <---- filled
bid
 
Quote from applejuice:

Hi,

So it has been claimed to me that it is theoretically possible for someone to be ahead of me in the queue, even if my limit order is positioned at a superior price.

"It is possible several lots were traded at and below your limit price, but if your order was not in front of these orders you would not have been filled. This situation can and does occur in live trading."

Sounds absolutely absurd to me.

??

e.g.
PRICE MOVES DOWN

offer
offer
offer
my bid <--- not filled
bid <---- filled
bid <---- filled
bid
More...

Was it hidden ? Or just a plain limit order?
 
Quote from sma202:

Was it hidden ? Or just a plain limit order?
More...

hidden have no priority whatsoever. they can trade thru it just fine
"they" will be ahead of you all the time,when stock is about to go your way.not sure about few levels below your order,but at your price-i can guarantee you that always will be LAST in line regardless.
another category-"prearranged" trades-you see them all the time. completely away from current markets.
dark pools executions. they can trade on their own.. like i said many times before-we have 60+ marketplaces(exchanges,ECN's,dark pools,etc)and they are shoveling same exact stocks,that use traded on 2 exchanges..with infrastructure like this one-EVERYTHING IS POSSIBLE
 
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