What price is used when there're opposing orders from investors?

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1

Hi,

IE aggregate orders from investors when executing them, are opposing orders matched (reducing spread) when aggregated?

For example, if an ETF is trading at bid/offer of 100p/200p, and an investor has a buy order of 1 share for this ETF, another investor has a sell order of 1 share for this ETF. Would these orders execute at the mid price of 150p or would sell order execute at 100p and buy order execute at 200p?

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2

Hi @nvng. Unfortunately are unable to tell you how the spread is calculated since we have no part to play in how the spread is determined