2 Def

Discussion in 'Retail Brokers' started by Bob111, Mar 27, 2003.

  1. Bob111

    Bob111

    Hi!
    today i want to sell 100 of ABX before market open
    current bid was 14.4,size -1, ask-14.8 size-1
    i place limit order to sell 100 shares @ 14.4(bid price), but order not been executed. at same time on ask side price 14.62 appears and i assume-it is my order. how is this may happend? why IB did not execute my order? Then - i cancel my previous order and place two orders. 1.-sell 100 @ 14.6, 2. sell 100 @ 14.7. they both been executed shortly after i place them @ 14.61! i place limit order to sell @ 14.7 and it was executed @ 14.61?! wow...
    how this can happend? how do i trade NYSE stocks on premarket?
    Thank you.
     
  2. mskl

    mskl

    2 Bob:

    Funny, I was bidding for ABX this morning (14.40). But you must have been trying to go short as you can't short any NYSE stocks (down on the day) on Island or Instinet (ARCA has the more traditional down tick rule). ABX closed at 14.61
     
  3. def

    def Interactive Brokers

    bob,
    w/o an audit trail I can only speculate. MSKL is correct about MOO orders.

    1. You sent in a sell short order and IB changed the price to conform with downtick rules.

    2. I believe MOO orders have time limits where you can not cancel once placed.

    3. Thus your order was not cancelled and you were filled on the opening print.