Two orders at same price

[JeremyALD]

I've often wondered what happens when two people put an order in for the same stock at the same price. Who gets priority? Is it the person who placed the buy order first?

[t.rexjr]

I've often wondered what happens when two people put an order in for the same stock at the same price. Who gets priority? Is it the person who placed the buy order first?

As I understand it yeap but...

Depends on your platform in that: if trading through ASB, they won't place that order on CHI-X 'unless they feel like it'. So in a case of people placing a trade using ASB vs ANZ at the same time, if there were no bids on that price on the ASX then the ANZ bid may go first due them placing it on CHI-X before ASB decide that they might want to

There's other factors involved as well but same exchange should be first come first served as far as I'm aware.

[JeremyALD]

As I understand it yeap but...

Depends on your platform in that: if trading through ASB, they won't place that order on CHI-X 'unless they feel like it'. So in a case of people placing a trade using ASB vs ANZ at the same time, if there were no bids on that price on the ASX then the ANZ bid may go first due them placing it on CHI-X before ASB decide that they might want to

There's other factors involved as well but same exchange should be first come first served as far as I'm aware.

Thank you
I say this because I put an order in for TIL today and didn't get it, even though according to depth I was the first to make a bid at the price. Another bid equalled my bid and appeared to get priority

[blackcap]

Thank you
I say this because I put an order in for TIL today and didn't get it, even though according to depth I was the first to make a bid at the price. Another bid equalled my bid and appeared to get priority

It's quite possible that when there are 2 bids at the same price, that the bid that is "behind" or second in priority still gets traded. Lets say the first bid is you with broker ASB or ANZ. The second bid is First NZ Capital. Then say First NZ capital have a seller come in for that stock. What they then may do (and pretty much all brokers will do) is match their seller with their buyer and so you do not get traded.
However this can also works in your favour if your broker were to have a seller for this stock and you did not have priority.