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Another word - highest bidding and lowest asking price will form a transaction.
rogue_trader, thanks for info and appreciated that.
One more question: Assuming all the orders are @ the same px, but the orders are released to SGX at different timing. And assumed the takers are at that same price. In this scenario, timing will come into play. Correct ?
timing will only "play" a part if the spread of the px only 1 or 2 difference nia.. if nt, higher px will "comes 1st".. imagine if i keyed in 1st hand at let say, $.20 for cosmo, do u think i can get it? cannot mah, so px still "comes 1st"..
okie, for eg.. last time i queued at high px for epure on 1st day... end up i tio epure at lower px.. sgx got a logarithm to "calculate" the opening px 1.. they will used "the average px n volumes" to determine a opening px.. for cosmo, there will quite a few orders for $2, bt the "logarithm" calculated $0.685 for its opening px.. ya, i got market depth..
i think the quening system is based on timing (ie. the orders release from brokerage firm to SGX) and then followed by pricing (ie. must within the 6bids). But if you're the only one queuing at a higher px (ie. must be within 6bids) and there's taker, your order will "jump" queue and get executed, even yr brokerage firm releases yr order late. Correct me if I'm wrong.
rogue_trader: izit? i dun hv market dept service to see so i dunno. maybe u wanna experiment n tell me your suspicions is confirmed?
and anyway, i won't put queues overnight for trades 1...
sohguanh, no wat.. if i q 1 bid higher it won't affect the opening px wah, i only getting priority in getting my wanted shares.. just like for cosmo this morning, people queueing at $2.00, end up opening px $0.685.. they not paying $2 per cosmo wah..
if the counter got good volume, then don't have to worry about queuing rite?? Most of the time, no matter what time i queue, my orders will be filled for those high volume counters. only worry is, can't get at the price i want mah... if low volume, 'q' early also no point if there are no sellers or buyers.
rogue_trader: of cuz you can. you juz buy more expensive or sell cheaper lor :)
i tot the "queuing system" is based on pricing, then timing.. if i wanna jump the queues, i queued at higher px can liao, tio bo?
AhLian: based on your experience, which brokerage firm release the order to SGX earliest? or you got a list of timing of different brokerage release at wat time? :P
thanks for the extra info.
When you key in is not critical, but where your 'Q' is, depends on when your broking firm release
your buy/sell trade to SGX. E.g. you may key-in one day before, but your broking house release
it the next day at 0840hrs, then your 'Q' would be far behind!!!!!
to ensure to a piece of pie, likes Jasper, in the next day's trade, u hv to key-in order right after the closure of the day's trading ! Just my tot !
harryp, u r correct. Order can be withdrawn the next morning even after 0900hrs, provided the order has not been executed. (I think) this is what ppl is doing: key-in the order, withdraw it if DJ closes badly, or there's undesirable news ...
I thought that he orders can be withdrawn the next morning before 0800 hrs. So there should be enough time to get out if some undesirable events happened at night........
I find putting in an overnight trade a little risky. This is because things may develop overnight around the world that may affect the stock price.
Hi 1234567... Thanks for the info... :p