Say I want to buy XYZ at $10. It closes at $10.10 on Friday...Not executed. The after hours shows it at $9.90. If I have this correct, if I was a Morgan Stanley or Merrill Lynch, my stock would be purchased at $10. on Friday with the broker being the market maker and it would either be their stock that they owned, or one that they have matched with someone else who has an account with that same firm.
If I tried to do this with Fidelity, Schwab, or IB, this transaction would not/could not happen. Is this how the brokerage industry works?? Thanks for your thoughts...
If I tried to do this with Fidelity, Schwab, or IB, this transaction would not/could not happen. Is this how the brokerage industry works?? Thanks for your thoughts...