Basic Limit Order Question

Discussion in 'Order Execution' started by walterjennings, Jan 14, 2007.

  1. Hi.
    I have a question about limit orders. Say I am looking to buy a stock, future or forex, and I create a limit order at price + 0.001. meaning I want price + 0.001 or better (lower). If someone places a market order (or a limit at price) which reaches the exchange / bank slightly after me, will my limit order take the cheaper liquidity at 'price' if it is still there or will the exchange bump the market order ahead of mine, giving it the cheap liquidity and filling me at price + 0.001, my accepted limit? is this different on different markets?
  2. We need some more information. Can you give a specific example?
  3. mjh


    lol -good one!
  4. syrre


    In most markets you would get filled first, not nessesary in NYSE tho - you never kno wots gonna happen there in the playground for the MMs.