Forum Archive Index - June 2002

["malcie coleman" <malcolmcoleman1@hotmail.com>]

I dont want to get into an analysis of brokers or software Hugh but I am 
interested to hear from someone else quoting the line
(Web-Broker:) "No, if one broker has both buy and sell orders these get 
satisfied even though others were earlier in the queue".

Thas amazed me when I was first told of it  - its like going to an auction,  
putting in a bid and having someone else suddenly walk in the door and bid 
your price and get the goods! I don't understand how a "publicly traded 
share" can be put on an open market but be preferentially allocated to 
another client of the broker who put it there in the first place.  Does the 
customer care who buys his or her shares?

My experience was selling FFS shares - I put on a parcel,  half were sold 
and then 2 MILLION-odd shares traded and three days went by before the 
remainder of my parcel was sold. This is extremely frustrating especially as 
I cannot (can anyone?) place a "Fill or Kill" order with my broker. I would 
like to know the rules about this practice.

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