Market Mechanics
At one share price, queue priority can decide which order trades first
A price touching your limit does not guarantee a fill. Understand price and time priority with a simplified order-book example.
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Market Mechanics
Market Mechanics
A Closing Auction Price Is Different From a Pre-Auction Indication
A closing auction uses its own orders and rules to establish a price. Do not confuse its indicative information with an already completed trade.
Market Mechanics
Trade Date and Settlement Date Are Different Milestones
Distinguish execution from settlement when reading a trade confirmation, and check the applicable market calendar and broker rules before relying on available cash.
Market Mechanics
A Trading Halt Needs an Official Explanation, Not a Price Guess
When a share stops trading, identify the market notice and reason before interpreting the last price. A halt is not a forecast of the reopening price.