sorry, wrong day! Your trade was Wednesday, but it was April 11 ! I should have noticed that your original post was just after midnight on the 12th, ie before all the prices I looked at for the 12th. For the 11th, there were a lot of trades during that time period, and you were hurt as you described by the delay. Here are just a few "highlights" (There are many intervening trades) time == price ====size 10:29:57 108.92 1 10:30:02 108.91 5 10:30.06 109.00 10 10:30.15 109.25 4 10:30.20 109.50 2 10:30.25 109.43 - 109.45 10 total 10:30.30 110.0 10:30.37 110.01 5 Numbers I am seeing must be 100s.
Isnt a NYSE order going to a marker maker considered "interpositioning"? That is unsatisfactory. Call the NASD or SEC and complain. Interpositioning An illegal action of a specialist or broker-dealer unnecessarily inserting him/herself into a natural transaction between a buyer and seller in order to pocket an improper profit.
Well, my order was "Auto Routed" not placed specifically with NYSE (that's not an option with the broker I used in the trade example). This whole thing smacks of a conspiracy considering the news that was about to break on oil at that time. I'm still pissed at how this all went down, but it's a lesson learned. In my mind, the delay was caused by the MM waiting for the news to hit the wires, not by a "non-response" from Instinet....