Anyone here use 85 share orders?

Discussion in 'Politics' started by Dustin, Dec 20, 2003.

  1. Dustin


    One of my new strategies is getting 85 share fills on ECN's when a certain event happens on listed stocks. I am getting my fills from one guy each day and thought it would be fun to know who it was. Also, I have a question regarding your API...PM me.
  2. dgmodel

    dgmodel Guest

    i do not know anyone who would enter any odd lot order...
  3. Swipe


    You didn't know if you enter odd lot orders on the NYSE it's an automatic fill? Even if the spec shows 1 x 1 and I hit the button 2x I get 170 shares
  4. ortega


    Why is 85 shares the magic number? Also if you are a professional trader it costs 25 or 40 cents (i can't remember which) per share to execute through NYSE if you send odd lots.
  5. got to love big thinkers like "dustin" and "swipe" :D

  6. Dustin! "No odd lots" you know better than that!

    Not just the rule (unless you're not covered by it) for traders, but it automatically gives you a bad fill and higher costs. You're not "matching the order" with some "guy" somewhere...just a bad full on a computer. (Interesting thought though).

  7. Dustin


    I am not the one entering the odd lots. I enter a round lot on ISLD, and get filled for 85 shares immediately every time this event happens. As far as I understand the rules this is perfectly legal for me because I'm entering round lots and getting the partials. As for the other guy, I hope he is not pro for obvious reasons. I would personally like to know what firm he is with because the API he's using is incredibly fast.
  8. Dustin


    The bigger picture is I want to know who is providing his API. These fills I'm getting are free money for me 90% of the time, but small $ overall.
  9. Ebo


    You are going places trading 85 shares piker.
  10. I am bored to death

    #10     Dec 21, 2003