Late trading

Late trading is trading that executes after the market closes, while charging the share price of when the market was stil open. This form of trading may be illegal, and is distinct from official after-hours trading.

Mutual funds

In the mutual fund context, late trading involves placing orders for mutual fund shares after the close of the stock market, 4:00 p.m for the New York Stock Exchange, but still getting that day's closing price, rather than the next day's opening price. The price of mutual funds is usually set only once per day, so intraday prices are not applicable. [1]

Controversy

In the United States this practice is illegal under SEC rules but many mutual fund managers appear to have allowed exceptions for certain hedge funds and other favored investors who were able to obtain that day's price, notwithstanding that their orders were received after-hours.[2]

gollark: If you want to run stuff downloaded from the interweb in a script then:```lualocal h = http.get "whatever URL"local x = h.readAll()h.close()local fn, err = load(x, "@thing")if not fn then error(err) endfn(...)```
gollark: You can actually just use `wget run [URL]` or something in the command prompt.
gollark: If you want to save it to a file then```lualocal h = http.get "whatever URL"local f = fs.open("whatever file", "w")f.write(h.readAll())h.close()```
gollark: In general something like```lualocal h = http.get "whatever URL"local text = h.readAll()h.close()```to download a file to the variable `text`.
gollark: Yes.

See also

References
  1. "How to Trade ETFs TD Ameritrade". www.tdameritrade.com. Retrieved 17 June 2019.
  2. Woodard, Dustin. "Bear Stearns Settlement on Fund Trading Scandal". Mutual Funds at About. Archived from the original on 2008-03-22. Retrieved 2008-06-23.


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