I would like to discuss this trade

Discussion in 'Order Execution' started by Javier, Jan 22, 2015.

  1. Javier

    Javier

    Lets assume.
    (vol)
    bid. 2.67 300
    2.40 200
    2.39 200
    ask. 2.42 100
    2.41 200
    2.60 200

    I want to sell my shares to the one who is bidding 2.67.

    Should price reach that price?
    If not or there is no liquidity on the ask, should the specialist provide liquidy until is reached?

    Tx for you help
     
  2. bjw

    bjw

    it would be better if you would provide a real example, not an unrealistic assumed one.
     
  3. rmorse

    rmorse Sponsor

    Javier,

    I don't understand the question as you asked it. Also, I'm not sure what asset class this is. In general, there are no more specialists. There are DMMs (designated market makers) in both equities and options. They provide depth & liquidity where they choose to, not at prices that other customer and firm orders come in.

    Does that help?
     
  4. Javier

    Javier

    ok real example from today =) eur/usd

    bid 1.650 500
    1.600 200
    1.599 200

    ask 1.603 500
    1.604 400
    1.605 500

    I want to shell 100 shares to the bid 1.650
     
  5. MadeMan

    MadeMan

    just hit the bid ?!? ... market order .. ??
     
  6. rmorse

    rmorse Sponsor

    I'm not sure why the bid is higher than the ask. That can't be. Maybe a screen shoot would help. In general, if the best bid is 1.65 bid for 500 shares, and you need to sell stock at that second, that would be your price for up to 500 shares.
     
  7. rmorse

    rmorse Sponsor

    If that id depth of market, I can't see it, it's too small, what stock is it?
     
  8. rmorse

    rmorse Sponsor

    Now I understand. This is not a stock but an FX market. There are two basic platforms for non-deliverable. (I'm not an expert on FX) The platform where you pay a commission per $1M traded or the kind when you pay the pip spread. The commission type, you can buy and the bid and sell on the offer. The pip spread type, the participating banks need to offer on your bid or bid your offer to get an execution.

    Does that help.
     
  9. Looks weird. A) you are on delayed quotes, B) the real market was probably around 1.1478x at that time, C) your order book is messed up, most likely because you only look at TDFX's feed not a consolidated feed that brings together many liquidity providers and shows the best book.
    D) You want to consider masking your account ID. I am not crazy about privacy but exposing your acct id for the world to see is not something I would feel comfortable doing.



     
  10. Javier

    Javier

    ok i have review that. That was an issue in the order book, an error probably... thanx for your ideas. i will delete pic to not show my id
     
    #10     Jan 24, 2015