My SELL confirmed, does it mean some one has bought the stock on the other end?
SELL of stock from overseas (say Singapore) back onto NASDAQ. I see confirmed of SELL. Does this equal to a confirmed buyer who has executed a BUY on the other side of the trading market to buy my stock?
Additional Information:
Hi JPL,
Many thanks for the info. Assuming the brokerage firm reverts the next day that my SELL is invalid and voided due to naked short position, is it possible that
Scenario 1: The broker did not manage to find any buyer(s) for my SELL or
Scenario 2: Assuming that they have taken in the stocks under their books but decided to reverse that decision suddenly?
I thought the electronic trading system enables almost instant SELL/ BUY?
How is it possible??
Best Regards,
Jibby
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SELL of stock from overseas (say Singapore) back onto NASDAQ. I see confirmed of SELL. Does this equal to a confirmed buyer who has executed a BUY on the other side of the trading market to buy my stock?
Answers
176 points
JPL answered one month ago …
Hi, Jibby,
Not necessarily. What it does mean is that the broker executed a trade for you. Most likely the broker also found a buyer for your stock, but they could have bought it for their own account, although not likely.
Hope the above helps.
JPL
10/5/2009
176 points
JPL answered one month ago …
Hi, Jibby,
I just noticed the additional details in your earlier query. Those are good questions, but unfortunately, I’m not in a position to speculate what/why the broker could do under those scenarios. Sorry.
However, if they did indeed cancel your confirmed order because it’s invalid to short, please take comfort in the fact that you didn’t lose anything.
A similar thing happened to me, in that certain stocks are not allowed inside the registered account, and although the broker has the prerogative to cancel the trade, they refused and insisted I cleared it out of the account immediately, thereby resulting in more commissions.
Take care,
JPL
10/8/2009
110 points
x answered one month ago …
could be that you do not have enough equity in your account which may be required to sell that stock short.
Read more from x
904 points
jillybeansisme answered one month ago …
Some stocks are just not allowed to be shorted, but I don't remember under what circumstances. I'm surprised MNSL hasn't answered this one!
Read more from jillybeansisme
