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maxima120

Registered: Jun 2009
Posts: 281

10-01-12 11:59 PM

I thought Nymex futures (usual ones at least) using same FIFO as say ES.

May be I have hit a mental wall.. but..

I think if in ES say best bid is 1000 and and I place a sell limit order at 900 I will get filled at 1000 anyway (as it is the best available - isnt that what the limit orders are about?).

I normally am carefull with trading platforms but today i accidentally clicked on buy column while i was long .. somewhere way above best ask. and the order was filled at the price i clicked.. not best available.

cant find anything in the rulebooks..

could someone please explain whats so different with nymex?

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atrocious

Registered: Mar 2010
Posts: 164

10-02-12 12:30 AM

There should be no difference from ES when you're taking liquidity, you sweep whatever is displayed in the book. What was the contract?

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maxima120

Registered: Jun 2009
Posts: 281

10-02-12 12:35 AM

HOX2

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Chicago_CTA

Registered: May 2010
Posts: 338

10-02-12 12:40 AM

Quote from maxima120:

I thought Nymex futures (usual ones at least) using same FIFO as say ES.

May be I have hit a mental wall.. but..

I think if in ES say best bid is 1000 and and I place a sell limit order at 900 I will get filled at 1000 anyway (as it is the best available - isnt that what the limit orders are about?).

I normally am carefull with trading platforms but today i accidentally clicked on buy column while i was long .. somewhere way above best ask. and the order was filled at the price i clicked.. not best available.

cant find anything in the rulebooks..

could someone please explain whats so different with nymex?

Who is your broker, OP?

Did you check Time & Sales?

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maxima120

Registered: Jun 2009
Posts: 281

10-02-12 12:44 AM

Hmmm.. I thought this is know issue.. let me do that again tomorrow and I will publish the results.

But I am sure it wasnt imagination as the price was like 50 ticks off. Not even HO could jump that far in 1 sec.. I am quite sure it was genuinely filled above best ask.

Broker wont be able to spoof this. Plus I have trusting realtionships with them. I dont think they would do it.. It is big and reputable name (not mirus or anything ;))

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atrocious

Registered: Mar 2010
Posts: 164

10-02-12 01:23 AM

The last few days the NYMEX distillates have been trading crazier than I recall for years, so it's possible it was just bad timing on a spike.

I would call your broker in the morning and have them check the fill against time and sales, maybe it was just a bad report. These aren't OTC markets so nobody is out to get you.

Good luck!

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