When upper or lower limit is hit, the market orders get converted into limit orders. But, where are they placed in the queue of orders?
When a market order is converted into limit order, in which position in the series of pending orders is it placed?
It will be similar to a normal limit order and price time priority will be applicable.
it will be as a new order has been placed but price priority will be there . assuming there is /are already same price orders in the system your order will be in queue after these orders.