Q: What's a busted trade. How can it be busted?
Q: If I send a IOC sell of 12.05 but the best bid is $12, how could this be filled?
Note The IOC order can (but does not have to) be filled in full. If it cannot be filled immediately or fully, the pending part gets canceled (a partial execution is generated) by the market. It differs from a fill or kill order in that in fill or kill orders, partial executions are not accepted.
I believe IOC / FOK are all limit orders. Market orders are implicitly IOC -- if orderbook is (almost) empty on this side, the market order is (partially) cancelled.
Q: what's a resting order?
Q: if a sell limit order is $27 and a new buy limit order comes in at $28, what would be trade price?
A: $27. new comer is given the best price available. Note the buyer doesn't know what the best offer would become when his order hits the book, so he uses limit order not a market order.
Q: what's away order?
Q: whats intermarket sweep order
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