Arca Cross PNP Link

Discussion in 'Order Execution' started by bonds, Jun 22, 2006.

  1. bonds


    Im using a platform that keeps giving me this error when i try to buy using arca... for example whenever i try to buy or sell beyond the current bid/ask it cancels my order and gives me this error msg. Can anyone explain it to me?
  2. alanm


    It probably means that your order is being sent to ARCA with the "PNP" flag set, which prevents ARCA from routing away to other markets to execute your marketable order, and ARCA is not currently at the inside. You need to either turn off that flag somehow, use the platform's "smart" routing (if available), or send the order directly to wherever the inside market is instead of ARCA.
  3. qazmax


    Well said.