# Order purged?



## mervco54 (2 March 2016)

does any one know what purged from the market mean 
when you have put in a order for stocks? tanks


----------



## PZ99 (2 March 2016)

Usually means it's reached its expiry date.


----------



## mervco54 (2 March 2016)

PZ99 said:


> Usually means it's reached its expiry date.



tanks


----------



## pixel (2 March 2016)

mervco54 said:


> does any one know what purged from the market mean
> when you have put in a order for stocks? tanks



A few more reasons why orders can disappear:

When a company is *suspended *- as opposed to merely a 2-day trading halt - all orders will also be purged before trading resumes. Usually, announcements that end such a suspension will have a high impact that requires investors to re-evaluate their buy or sell levels. 

When the company *splits or consolidates* its shares, or when a new issue or capital return alters the share ratio and/or cost base, old orders will also be purged because they are deemed to be based on the old, now superseded valuation.

Some brokers will purge a particular order if it's too far away from the current trading range. Or they have a default expiry date, e.g. 3 weeks from the day the order is placed. If the order still hasn't been completely filled, it will be purged on time-out. You need to check with your broker about the time limits.


----------



## Knobby22 (2 March 2016)

Also dividend.


----------



## pixel (2 March 2016)

Knobby22 said:


> Also dividend.




Really?
None of my brokers have done that.
It might happen if it's a substantial cap return or merger-related. That I can't remember. But on ex-day of normal dividends, I've never seen the market depth board wiped in the morning.


----------



## VSntchr (2 March 2016)

pixel said:


> Really?
> None of my brokers have done that.
> It might happen if it's a substantial cap return or merger-related. That I can't remember. But on ex-day of normal dividends, I've never seen the market depth board wiped in the morning.



You sure? I always have my orders purged on ex-div morning.


----------



## Knobby22 (2 March 2016)

Comsec do.


----------



## pixel (2 March 2016)

Knobby22 said:


> Comsec do.




Apparently, I'm very wrong about this. I have taken snapshots of today's after-Close market depth tables for HHL and SHL. Shall compare tomorrow pre-Open to see how wrong.

View attachment SHL-HHL mdAfterClose 02-03-16.xlsx


----------



## craft (2 March 2016)

See this page for ASX trading status codes, includes purging information.  XD (ex-dividend) are purged.

http://www.asx.com.au/prices/status_notes.htm

In addition your broker may have expiry parameters, ie good for a day, standard 30 day expiry etc which could cause the order to be purged.


----------



## pixel (3 March 2016)

craft said:


> See this page for ASX trading status codes, includes purging information.  XD (ex-dividend) are purged.
> 
> http://www.asx.com.au/prices/status_notes.htm
> 
> In addition your broker may have expiry parameters, ie good for a day, standard 30 day expiry etc which could cause the order to be purged.




Thanks Craft,
and apologies to Knobby and VS: I got it wrong. 
At 9am, HHL has only one buy order left. Although it's the same odd size as yesterday, the owner will have renewed it early  this morning. SHL's orders are already quite numerous, but the md is completely different from last night's.
The purging appears to be done about 2 hours before Market Open. Here in the West, that's way before breakfast. By the time I look at any depth screen. new orders are already placed. 

"How embarrassment!" - after all those years of trading, I never noticed 

View attachment SHL-HHL mdPreOpen 03-03-16.xlsx


----------



## Gringotts Bank (28 October 2016)

When entering an order on ASX, how close to the last price does an order need to be in order to avoid being rejected (due to being too far away)?  Is it a % calculation?  Who sets the rules on this - the broker or the ASX?

Thanks.


----------



## Roller_1 (28 October 2016)

Gringotts Bank said:


> When entering an order on ASX, how close to the last price does an order need to be in order to avoid being rejected (due to being too far away)?  Is it a % calculation?  Who sets the rules on this - the broker or the ASX?
> 
> Thanks.




I think it's broker related, i use IB and i think the limit is 10% either side. example i place a sell limit order below the last close to have the order filled in the opening auction. I had a order rejected once for being further than 10% away. But i know with some other brokers the limit is much less around the 3-5%

There's lots of "I think's" in there but that's my understanding.


----------



## Gringotts Bank (28 October 2016)

thanks roller.


Anyone know the rules and who sets them???


----------



## investtrader (9 January 2021)

Bump ...
I have started trading a new system in the last little while and I am using profit targets. I place sell limit orders on all positions. Some are getting purged. I can't find exactly what the criteria are? ( I have noted the ex-div reason above and it's not that).
I have searched the ASX website to no avail. My profit targets vary in % amount (based on ATR).
It seems that no one really knows from the above discussion. 
Any ideas anyone?


----------



## tech/a (9 January 2021)

Can’t answer the actual reason other than the likes of IB 10 % rule 

I have an alarm set at a target price which could be a sell price if I choose or and most likely —- time to look and consider.

Then I place a stop limit sell or buy if needed.


----------



## investtrader (9 January 2021)

Thanks, tech - Just looking for a lazy way out.........

Although lots of time this weekend stuck at home


----------



## peter2 (9 January 2021)

I've had a quick look around and didn't find anything definitive other than the commonly known cases when the orders are purged (div, halt, suspension). My opinion is that brokers interpret the "ASX must have an orderly market rule" differently. Some brokers allow orders at close +/- 10%, some don't. I've had orders purged after a set number of days. Different periods of expiry with different brokers.


----------



## Smurf1976 (9 January 2021)

investtrader said:


> Some are getting purged. I can't find exactly what the criteria are? ( I have noted the ex-div reason above and it's not that).



Wouldn't be the first time I've had either a buy or sell limit order purged randomly in the middle of the night with no obvious explanation as to why. You're not the only one to have it happen.


----------



## Kids inheritance (16 February 2022)

Can anyone shed some light on the question below please? 
I place a sell order with my platform and it seems to never get filled, when i question it with the platform they refer to the market depth, what does that mean...? When i want to sell at the right time (to make some money) but cant i lose money... can you help?


----------



## Garpal Gumnut (16 February 2022)

Kids inheritance said:


> Can anyone shed some light on the question below please?
> I place a sell order with my platform and it seems to never get filled, when i question it with the platform they refer to the market depth, what does that mean...? When i want to sell at the right time (to make some money) but cant i lose money... can you help?



If you place a sell order "at market" and the stock is trading at volumes above the number of shares you are offering they should sell.

If you place a sell order at a specific sell price it may never sell as the market buying and selling may move down from your price.

Not all sales will come to fruition as reflected in the order nor buy sell lists, as people will just pop in and buy or sell at the sell or buy price or at market.

Orders to sell may be purged if they are too far away from the market price as it clogs up the system otherwise. 

It is not quite as simple as that but ask away. I do hope I did not get it a*se about.

In summary if I really want to buy or sell a share I place an at market order.

gg


----------



## Country Lad (16 February 2022)

Garpal Gumnut said:


> In summary if I really want to buy or sell a share I place an at market order.



Good advice, if selling at a set price you can chase the price down a $1 constantly looking for 1 cent above market.

Conversely, the guy below is waiting for AFT to come back to $2 before he will buy.


----------



## divs4ever (16 February 2022)

AFT . the solar company ??

 is it still a functional company ( listed or unlisted )

 i would like to know i still have some shares in it  ( just another 'disappearing stock on the ASX )

 if they are coming back at $4   that is a 4000 into one consolidation .. LOL


----------



## divs4ever (16 February 2022)

Kids inheritance said:


> Can anyone shed some light on the question below please?
> I place a sell order with my platform and it seems to never get filled, when i question it with the platform they refer to the market depth, what does that mean...? When i want to sell at the right time (to make some money) but cant i lose money... can you help?




 since you have specified a selling price   you will have to wait for a buyer   wanting that many shares ( or more  ) at THAT price ( or more )

 PS sometimes it can be a lengthy wait  ( days ,  weeks , months the order will probably  be purged before it is ignored for a year )

 a buyer wanting LESS shares at the desired price  will only part-fill the order  ( until another buy order comes along  , or it is purged )

 BTW welcome to ASF


----------



## Kids inheritance (21 February 2022)

Garpal Gumnut said:


> If you place a sell order "at market" and the stock is trading at volumes above the number of shares you are offering they should sell.
> 
> If you place a sell order at a specific sell price it may never sell as the market buying and selling may move down from your price.
> 
> ...



Thank you !
I thought that if there are a significant amount of outstanding shares available that these orders would get filled...? How do we make money off a fluctuating share price? For instance one share i own goes up by 20% once or twice a week but because i cant get my order filled i miss out on making 20% every week....? Is this the brokers fault, should i move broker...?


----------



## Garpal Gumnut (21 February 2022)

Kids inheritance said:


> Thank you !
> I thought that if there are a significant amount of outstanding shares available that these orders would get filled...? How do we make money off a fluctuating share price? For instance one share i own goes up by 20% once or twice a week but because i cant get my order filled i miss out on making 20% every week....? Is this the brokers fault, should i move broker...?



It may have more to do with the stock than the broker. 

From your description it may be selling within portfolios or between insiders in the company and you will have no control over that. 

If the sales are cross trade XT or some variation e.g CXXT the price is being fixed by bigger than you. 

I'd consider lowering your stress by considering getting out of the stock and looking for a prospect more predictably traded. 

gg


----------



## divs4ever (21 February 2022)

sadly you have to wait in line  at the price you select 

 at even being No. 1 in the line doesn't always mean the whole order will be filled  that day 

 BUT Commsec  prefers  to sell between customers  and badges the trade NXXT   , i don't know if any other broker  does that  between clients orders  ( but since it apparently isn't illegal  , maybe they do )

 now the trap is ... do you wait patiently ( and miss out on other opportunities ) or do you chase the price if it gets close ( i strongly resist the urge to do this ),  but it is your trading strategy  , do the best you can , for you 

 now depending on how much you love paperwork  ( and ASX charges $55  to transfer each share holding  to a different broker  .. that is say all your BHP  for the $55  , all your CBA  for $55  etc etc )

 another option is to open an account with a different broker  and operate them in  parallel  ( i have two platforms and each has their good points and bad ) but the paperwork is a bit more complex  , but it is an acceptable compromise for me


----------



## Value Collector (21 February 2022)

Kids inheritance said:


> Can anyone shed some light on the question below please?
> I place a sell order with my platform and it seems to never get filled, when i question it with the platform they refer to the market depth, what does that mean...? When i want to sell at the right time (to make some money) but cant i lose money... can you help?



Market depth is basically how many other participants are in the market at certain prices.

for example if there is a guy with an order in to buy 1000 shares at $10 per share, it will show up as the current bid is $10, but if you have 10,000 shares to sell there is not enough “depth” for your trade, because the guy only wants to buy 1000.

the next order under that guy might be 500 shares at $9.99, then 1000 shares at $9.95 etc.

so if you want to sell your full 10,000 shares at $10 you can’t do it, you would have to accept lower prices so you can sell to the people lower down the bid line.


----------



## peter2 (21 February 2022)

Since no details (stock code, price) has been provided. We're only guessing. 
Another possibility is that the poster is trying to sell a stock less than 0.01. The problem here is the order is not getting to the front of the queue to trigger.  We often get "newbies" trying to make the spread on a 0.005 - 0.006 stock (20%) without realising that their order is at the back of the queue and may take a long time to trigger.


----------



## frugal.rock (21 February 2022)

Perhaps a picture paints a thousand words?
Orders are queued in "first in best dressed" fashion.
So in the example below, if you tried to sell (order placed) at $0.006, you would have to wait until the 33 orders totaling a volume of 40.29 million shares were sold, before your order was reached.
(I won't confuse the issue by discussing centre point trades, or dark markets or lit markets, however, if one is going to trade the micro micro stonks, they should be all over this area of understanding... 🤐)


----------

