Forums - open auction fills

HOME FORUMS BROKERS SOFTWARE BOOKS CONTACT US

Your Account • Become a Member • Help • Search

	Forums ›› Technically Speaking ›› Order Execution ›› open auction fills

Page 3 of 3: 1 2 3

Daal

Registered: Oct 2002
Posts: 8997

08-31-12 09:13 AM

Quote from eusdaiki:

It depends on the symbol's total interest and imbalance.
If you have a 2 mm share imbalance & 10mm total interest then you can buy 100k shares with no problem.
On the other hand if you have a 10k imbalance and 200k total interest. Then buying 100k shares would have significant impact in price.

As I understand even though the latter example would create a significant imbalance the price of the auction would not be allowed to trade outside the NYSE Arca book correct?
Of course the quotes will move when they see a significant imbalance like that but at least it creates some kind of market price instead of allowing the specialist of just ripping you off like crazy

Edit/Delete • Quote • Complain

cdcaveman

Registered: Aug 2011
Posts: 3514

08-31-12 09:35 AM

Is a specialist just a legal front runner? Ultimate bucketeer of trades?

Edit/Delete • Quote • Complain

Shadetree42

Registered: Mar 2012
Posts: 15

02-03-13 03:52 AM

Quote from cdcaveman:

Is a specialist just a legal front runner? Ultimate bucketeer of trades?

Yes. People whine about HFTs, when the real low-hanging fruit to go after is the NYSE specialists. They just siphon money out of the system.

Edit/Delete • Quote • Complain

Shadetree42

Registered: Mar 2012
Posts: 15

02-03-13 03:54 AM

http://www.itg.com/news_events/pape...ing_Auction.pdf

Edit/Delete • Quote • Complain

Page 3 of 3: 1 2 3

Receive an email whenever a new post is added to this thread by subscribing to it.

Rate This Thread:

Forum Jump:

Conduct Rules - Privacy Policy - Day Trader - Day Trader Forum - Best Trading Software - Sitemap

WHILE YOU'RE HERE, TAKE A MINUTE TO VISIT SOME OF OUR SPONSORS:
Advantage Futures Futures Brokerage & Clearing AMP Global Clearing Futures and FX Trading Bright Trading Professional Equities Trading CTS Futures Trading Software DaytradingBias.com Professional Trading Analytics ECHOtrade Professional Trading Firm	eSignal Trading Software Provider FXCM Forex Trading Services Global Futures Futures, Options & FX Trading Interactive Brokers Pro Gateway to World Markets JC Trading Group Direct Access Trading MB Trading Direct Access Trading	MultiCharts Trading Software Provider NinjaTrader Trading Software Provider OANDA Currency Trading optionshouse Option Trading & Education Rithmic Futures Trade Execution Platform SpeedTrader Direct Access Trading	SpreadProfessor Spread Trading Instruction thinkorswim by TD Ameritrade Direct Access Trading TradersStudio System Building & Backtesting Trading Technologies Trading Software Provider Trend Following Trading Systems Provider