Say I want to buy XYZ at $10. It closes at $10.10 on Friday...Not executed. The after hours shows it at $9.90. If I have this correct, if I was a Morgan Stanley or Merrill Lynch, my stock would be purchased at $10. on Friday with the broker being the market maker and it would either be their stock that they owned, or one that they have matched with someone else who has an account with that same firm. If I tried to do this with Fidelity, Schwab, or IB, this transaction would not/could not happen. Is this how the brokerage industry works?? Thanks for your thoughts...
I regularly submit orders that allow for execution outside regular trading hours though IB. I have submitted the orders through TWS, MobileTWS, and WebTrader, no problem.
I found this...A few years old, but I get the concept. Just wondering if/when Schwab buys TDA, would they get into after hours trading?? https://www.google.com/url?sa=t&rct...ng-work.aspx&usg=AOvVaw1Azk-w7I7quqKgcjvhuqhI
Call the desk at Schwab and depending on where the quote had originated you can do it now. It will be a manual order.