Order Cancel Failure??

[GreatPig]

Had an order in with HSBC at yesterday's close which wasn't filled. At about 4.15pm I cancelled the order. For the next half hour or so it sat there saying "Authorising", after which I logged out and forgot about it. On other occasions where it's said that, it's soon gone through and gotten cancelled.

This morning after opening I thought I'd check that stock again to see if I wanted to put in another order. Much to my surprise, the order was still there and partially filled already. When it finally went through, I checked for the contract note and found two other contract notes for the stock, both of which said that they cancelled my order confirmation for the stock (partial amounts in each note).

Don't know what's going on there or what those cancel notes mean (I'll have to ring them later), but I'm happy with the order, so I hope it doesn't just suddenly disappear on me when they realise something's been stuffed up

GP

 

[bullmarket]

Hi GP

Had an order in with HSBC at yesterday's close which wasn't filled. At about 4.15pm I cancelled the order. For the next half hour or so it sat there saying "Authorising", after which I logged out and forgot about it. On other occasions where it's said that, it's soon gone through and gotten cancelled.

This morning after opening I thought I'd check that stock again to see if I wanted to put in another order. Much to my surprise, the order was still there and partially filled already. When it finally went through, I checked for the contract note and found two other contract notes for the stock, both of which said that they cancelled my order confirmation for the stock (partial amounts in each note).

Don't know what's going on there or what those cancel notes mean (I'll have to ring them later), but I'm happy with the order, so I hope it doesn't just suddenly disappear on me when they realise something's been stuffed up

GP

I don't know if this helps much but with Commsec if you submit a buy/sell/cancel/amend order after 4:15pm (when SEATS closes for us mere mortals ) the order comes up with status 'pending' until 7:00am the next day when SEATS goes into preopen. At 7:00am any 'pending' orders are entered into SEATS accordingly.

So if in this case it's turned out ok for you then all well and good but the obvious moral to all this is that if you have any pending orders over night, it's a good idea to check their status between 7-10am the next day to check they have gone into SEATS correctly before the market opens.

cheers

bullmarket

 

[GreatPig]

Bullmarket,

I'm not sure how it's supposed to work, but on other occasions I've added and cancelled orders well after-hours and had the changes show up shortly afterwards in the market depth.

Something else I'll have to ask them.

Cheers,
GP