Freddie Mac-No Politics (FMCC)

[obiterdictum]

The order most likely goes to Schwab, Schwab sends it on to an exchange or a third party that does that. The order should be filled at the exchange at the best possible price.

Why and how it took an hour to fill, I cannot tell you. It could have been held at Schwab under some technical order not to send orders with fraction of cents. I doubt the delay was at the exchange if it made it there, regardless of order type.

Do you know the precise procedures by which an order is executed through Schwab?