Help CenterTrading in US marketU.S. stock tradingLimit order might not be filled during extended-hours Trading in US market

Limit order might not be filled during extended-hours Trading in US market

According to Regulation National Market System (“Reg NMS”) by the SEC, best execution means that an order will be filled at the best price in all exchanges/market makers within the US. Your order will be filled at the exchange/market maker which provides the best price.

However, during extended-hours (pre-market, after-market trading and overnight trading), this rule does not apply. That means there's no best execution guaranteed during extended-hours trading and overnight trading. 

For example, when you placed a limit sell order during pre-market, you might see the market price was higher than your order price, but your order didn't get filled. It's because your order was sent to a different exchange/market maker which can’t provide the same price you see from market data for execution.


For details, please visit the following websites
Regulation NMS: https://www.sec.gov/rules/final/34-51808.pdf
Best execution rule is FINRA 5310: https://www.finra.org/rules-guidance/rulebooks/finra-rules/5310 

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