Confusion over GBX limit orders

Fridaymonday

Following a share save issue I  listed the shares on a LIMIT ORDER sale however due to my inexperience and the none clarity of the document the shares were sold at GBX value
My order was listed at 2.75 me thinking £ but the company sold them immediately as took the value as 2.75 pence. I was informed by two employees of that company that it is an issue.
Can anyone further confirm that this is in fact the case that these errors occur due to the confusion of the terminology.     

Hoenir

Share prices are quoted in pence as extend to decimal places. .  A limit order is a buy/sell order at a specified price. The brokerage have carried out your instruction.  

InvesterJones

I've got shares listed in both GBX and GBP, however the platform I use clearly shows the unit when buying/selling (which I think is always pence).

lr1277

That is tough situation you find yourself and I have no advice for further action. Not saying you can't take furtther action, but I wouldn't know what to suggest.

However I wanted to sell a particular share using a limit order.

I tried a sell price above the current price (in pence btw) and no takers.

So I dropped the price to something like 20p below the current price.

My broker sold the share above my limit price and very close to the current price.

I wouldn't have been unhappy if the share sold at the limit price as I had set it but was very pleased the broker sold above the limit price.

I would have expected your broker to try achieve the best price possible and not just sell at the limit price.

wmb194

Fridaymonday said:

Following a share save issue I  listed the shares on a LIMIT ORDER sale however due to my inexperience and the none clarity of the document the shares were sold at GBX value
My order was listed at 2.75 me thinking £ but the company sold them immediately as took the value as 2.75 pence. I was informed by two employees of that company that it is an issue.
Can anyone further confirm that this is in fact the case that these errors occur due to the confusion of the terminology.     

This is known as a, 'fat finger' type error. The broker followed your order, these mistakes happen.

jimjames

Fridaymonday said:

Following a share save issue I  listed the shares on a LIMIT ORDER sale however due to my inexperience and the none clarity of the document the shares were sold at GBX value
My order was listed at 2.75 me thinking £ but the company sold them immediately as took the value as 2.75 pence. I was informed by two employees of that company that it is an issue.
Can anyone further confirm that this is in fact the case that these errors occur due to the confusion of the terminology.     

It's not clear from this whether a share you wanted to sell at £2.75 was sold for 2.75p. I assume that isn't the case as you'd sell for the current market price which is maybe £2?

What price was achieved?