Speed of execution of Stop Loss order

[Wary One]

Hi all,

I use CommSec.

I have had a conditional Stop Loss on Promina (PMN) with the trigger at $5.50 and the limit $5.45.

My holdings got sold this morning for $5.45.

This morning's course of sales showed the first sale at $5.50 at 10:23:34 am.
There were plenty of sales at other prices between $5.50 and $5.45.
The first sale at $5.45 was at 10:49:50 am.

I am puzzled as to why it took 26 minutes for my transaction to go through?

(My only other executed stop loss went through in seconds).

Just wondering what experiences others have had - what is the typical time it takes for a stop loss to be executed?

Regards,
Leigh

 

[lesm]

Hi all,

I use CommSec.

I have had a conditional Stop Loss on Promina (PMN) with the trigger at $5.50 and the limit $5.45.

My holdings got sold this morning for $5.45.

This morning's course of sales showed the first sale at $5.50 at 10:23:34 am.
There were plenty of sales at other prices between $5.50 and $5.45.
The first sale at $5.45 was at 10:49:50 am.

I am puzzled as to why it took 26 minutes for my transaction to go through?
Just wondering what experiences others have had - what is the typical time it takes for a stop loss to be executed?

Regards,
Leigh

Hi Leigh,

One possible answer to your question is that depending on where you were were placed in the queue after the trigger was hit and your order subsequently hit the market (via seats), will have an affect on when your order will be executed.

While the course of sales may indicate that there were a number of sales between $5.50 and $5.45. The matching of your sell order with a buy order may have taken some time, due to the seats order matching process.

How long it will take to execute a stop loss on the market is dependent on the time it takes to match the respective buy and sell orders. Even 'at market' orders are placed on the respective queue and a buyer/seller match needs to occur befoe the transaction/order will be executed.

If you feel Commsec may have made an error you can contact them and query the delay.

Hope this helps.

 

[bullmarket]

Hi and welcome Wary One

well, you certainly have an apt alias for chatrooms

anyway, in addition to lesm's reply the only thing I could think of that might have affected the time it took your order to get filled is that maybe other stop loss orders were also triggered at $5.50 but their limit prices may have been lower than yours, say $5.40, and so I would imagine those orders would be ahead of yours in the queue.

But I'm not an expert on stop loss orders and maybe it was just a glitch on SEATS or at Commsec but I doubt it.

If still in doubt, I agree with lesm and maybe give commsec a call to clarify what happened.

cheers

bullmarket

Hi all,

I use CommSec.

I have had a conditional Stop Loss on Promina (PMN) with the trigger at $5.50 and the limit $5.45.

My holdings got sold this morning for $5.45.

This morning's course of sales showed the first sale at $5.50 at 10:23:34 am.
There were plenty of sales at other prices between $5.50 and $5.45.
The first sale at $5.45 was at 10:49:50 am.

I am puzzled as to why it took 26 minutes for my transaction to go through?

(My only other executed stop loss went through in seconds).

Just wondering what experiences others have had - what is the typical time it takes for a stop loss to be executed?

Regards,
Leigh