I have seen several times the phrase "next available price" and would like to learn more about how it actually works.
This is associated to market execution brokers I know, but technically I want to confirm if it is one of the below?
1. order SL/TP is triggered, order is send to liquidity for filling and is filled at a different price as that price is no longer available in the market
2. SL/TP is triggered as market price passes the set level, but that actual price is not available, therefore order is filled at next available price
Is one, or both of these correct?
This is associated to market execution brokers I know, but technically I want to confirm if it is one of the below?
1. order SL/TP is triggered, order is send to liquidity for filling and is filled at a different price as that price is no longer available in the market
2. SL/TP is triggered as market price passes the set level, but that actual price is not available, therefore order is filled at next available price
Is one, or both of these correct?