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Commsec - some orders executed, some orders outstanding

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lakhes1s

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Hi all,

What happens if I have placed a limit order (which is good for the day) for, say, 100 units, and only 10 of them are executed by the end of the day? Does my entire order cancel?

Thanks in advance :)
 
lakhes1s said:
Hi all,

What happens if I have placed a limit order (which is good for the day) for, say, 100 units, and only 10 of them are executed by the end of the day? Does my entire order cancel?

Thanks in advance :)
Click to expand...

No, you'll own ten - and will be charged the full lot of minimal brokerage.
 
If your order was GTC and not just for the day you'd only pay one lot of brokerage until the entire order filled. This is from Commsec's site:

If my share order is only partially executed, will I have to pay brokerage twice?




If your order is not completely executed in a single transaction (if insufficient shares are available at your limit price or there isn't a buyer for all of the shares you wish to sell), part of your order will remain on the market until it is executed or expires. Brokerage will be payable as follows.

If total consideration for the order is less than $10,000
You will be charged on initial execution and no additional brokerage will be applied on any additional units executed thereafter. For a full list of our brokerage rates please go to Support > Fees & Charges or click here.

If total consideration for the order is $10,000 or more
You will be charged the minimum applicable brokerage for each transaction, unless subsequent transactions take the total value of your order over the price threshold. The brokerage payable at different price thresholds is explained further in the CommSec Financial Services Guide which is available on the CommSec website > Support > Forms & Brochures or click here.

If part of your order is cancelled
If we have not been able to complete the order by the order expiry date, the completed parcel will stand and the balance of your order will be cancelled. It is important to note the completion of your order cannot be guaranteed.
Click to expand...

Sorry - just saw responses posted while I was typing, slowly....
 
burglar said:
What I never do is set for a day, ...

If I want just one day, I set for the max and close manually at the end of the day!
Click to expand...

What I never do is say "never " ;) It all depends.
If I want 100 at the price, but not pay any more, I'll use a persisting order with a broker like Westpac: They keep an order for weeks or months until it's filled or I cancel it, but only charge one brokerage regardless of number of bites.
In other cases, I use my Paritrade account, which works like Commsex; in that situation, I usually place "Day Only" orders. If I get filled only a small number and realise I won't get a full fill on the day at the price, I check the chart near the Closing time and decide what to do: I may do nothing, keep the few and have another look tomorrow; sometimes I up the bid to get a useful position, or I'll sell them at the Close. Brokerage is a business expense, no use fretting over.
 
DocK said:
If your order was GTC and not just for the day you'd only pay one lot of brokerage until the entire order filled. This is from Commsec's site:

If total consideration for the order is less than $10,000
You will be charged on initial execution and no additional brokerage will be applied on any additional units executed thereafter. For a full list of our brokerage rates please go to Support > Fees & Charges or click here.
Click to expand...
Click to expand...

Thanks Doc;
Apparently, Comsec have made their rules a little more user-friendly for the little guy.
 
pixel said:
Thanks Doc;
Apparently, Comsec have made their rules a little more user-friendly for the little guy.
Click to expand...
I believe your partial quote refers to non-expired partial-fill orders.
I still think the li'l guy loses as you said earlier,

But I could be wrong?!
 
burglar said:
I believe your partial quote refers to non-expired partial-fill orders.
I still think the li'l guy loses as you said earlier,

But I could be wrong?!
Click to expand...

For one-dayers, you're right: If the unfilled portion expires - be it automatically at the end of day or because it's cancelled days later - those 10 shares will have cost a full brokerage. If there's a chance the other 90 will get filled a few days later, then your rule puts you ahead of the one-day wanderer :)
 
pixel said:
With PariTrade, you can ask for strict "supervision" or loose "at your own risk" settings.
Check them out: http://www.paritech.com.au/
Click to expand...

I had a buy order partial fill.
I noted a seller @ 10% higher than I'd bought.
With the buy order still open, I put in a sell order which then partly filled.
Now I am top buyer and top seller in the same stock !

Have I done a bad thing?
 
burglar said:
I had a buy order partial fill.
I noted a seller @ 10% higher than I'd bought.
With the buy order still open, I put in a sell order which then partly filled.
Now I am top buyer and top seller in the same stock !

Have I done a bad thing?
Click to expand...

Smart trading, burglar! :xyxthumbs

As long as you don't buy up or sell down to yourself (something that the broker's system won't allow that anyway), you haven't done anything wrong. You found someone willing to sell down to you, then you found someone else willing to buy up. Day-trading pure and simple. Very successful even. Keep doing it.
Congratz! :2twocents
 

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