When you place an order on Stake AUS, it is sent via our broker’s smart order routing technology to either the ASX or Cboe’s order book to be executed at the best available price. 

While we always seek to obtain the best outcome for your order, this does not mean your order will be filled immediately. For instance, if you have a limit or stop order that has not been filled despite the share price reaching your order price, the most likely reason is the price-time priority of the order book.

What is price-time priority? 

To ensure fair and orderly markets, orders are queued on a price-time basis. If there are two orders with the same price, the order that was placed earlier will have ‘price-time priority’ and be executed first. 

See more with Market Depth

You can find out your place in the queue and see all awaiting orders with Market Depth – a premium tool that gives investors richer ASX market coverage. By revealing an in-depth electronic order book showcasing all open orders, Market Depth can help you leverage price-time priority more efficiently and use real-time data to inform your investing strategies.  

Market Depth is available with a Stake Black AUS membership. Learn more about what Stake Black has on offer here.