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Why did my limit order not execute even though the share price matched my order price?

Your limit order may not execute even when the share price matches your order price because exchanges follow a price-time priority system. This means that when multiple orders exist at the same price level, the exchange executes them based on the time they were placed: first come, first served.

How price-time priority works

When you place a limit order, the exchange assigns it a timestamp that determines its position in the queue. If several traders place buy or sell orders at the same price, the exchange creates a queue and processes these orders in chronological order.

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