mukoya wrote:guys is it just me ama my broker is pullin a quick one on me. I WENT TO BUY KPLA SHARES AT 16.60 he told me i could only get sum at 17ksh en yet the market price at that time was 16.55!
The market price then was 16.55, and there were probably 200,000 orders, meaning your order for 1,000 shares would be the fulfilled after the first 200,000 are met using the FIFO concept.
Your broker can however short-circuit the 200,000 by putting in an order for 16.60. That is why he was asking for you to give him room to get up to 17 in order to close a sale for you.
And again, probably the offers at the time were at 17, even though the last traded price was 16.55.