in T&S, why is there order above ask and below bid?

Discussion in 'Order Execution' started by trend2009, Jan 29, 2009.

  1. In time & sale, some executions are classified as above ask or below bid. Some people say those orders are stop-triggered order. How come an order above ask or below bid? if the order is a stop order, the order will become a market order when it is triggered, it can only hit ask or bid, never above ask or below. anyone knows why? many thanks.