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iStar Financial Inc. Message Board

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  • foreverwhiteroses foreverwhiteroses Apr 6, 2009 3:17 PM Flag

    What's With SFI-G?

    Or maybe it was an example of the perils of putting an order in without limits on a low volume security.... I learned that lesson the hard way, but have more than made up for it by keeping GTC orders in place at above or below market levels on off the run stuff.... It's fun....

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    • I asked Fidelity about a similar trade in sfi-g. Here's what they had to say:

      << The order you saw, 500 shares at $6.70 on March 24, was actually the last trade price on the Third Market exchange. This exchange is only available to institutional trades and your order was not eligible to be routed there.

      The primary exchange for the security is the NYSE, which is where your order was routed. On March 24, the Bid price did not go above $5.48. When you place an order to sell at a limit, the Bid price must come up to your limit before the trade will be triggered. It must then remain at or stay above your limit price to be filled. >>

 
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