Registered: Apr 2002
11-01-12 12:09 AM
This is a great topic. My advice is to go on the relevant trading exchange's website and download the circular or exchange rule on the topic. The procedure can vary from exchange to exchange. And it truly is about balancing orders and each exchange's order matching algorithm. For example, you have GTC orders and you have MOO orders. You will actually see the price ladder shift around during the pre-open as more orders get entered ( or pulled ) and as the time for the official trading open gets closer. Some traders in the know actually game the system at times for advantageous fills... I know a few of them.
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