RE: Without the first offer14 Nov 2022 15:01
addickt...its when I put a sale order in 200k on the II website.
I get quoted a firm dealing price when I press "Preview Order"
If I then press "Place Order" it is instantly transacted at that price and in the size specified.
Its what you might call a 'dummy trade".
I once accidentally pressed the 'Place Order' and the deal was executed. I had to buy the stcok back for a small loss...lesson learned.
So in fact it is more reliable than a verbal quote until in the latter case the dealer reads out the specific terms and asks "are you prepared to go ahead"?
But I donall my deals electronically. II is almost faultless and I almost never fail to get the size and price I want.
Hope that helps?
PS If anyone ever wants to know what the live price is for a specific size of order, just ask and I will find out.
Its why I don't bother with Level 2...