Can people jump ahead of your limit orders on NYSE b/c of the "parity rule?"

Discussion in 'Order Execution' started by Love2Trade$, May 27, 2019.

  1. qlai


    I don't know about what they must do, but below clearly suggests otherwise.

    "Parity requires that orders from floor brokers, the designated market maker, and the top of the electronic limit order book trade together. That is, floor trading interests can trade ahead of equally priced, previously arriving orders in the limit order book."
    #21     May 29, 2019
    GRULSTMRNN likes this.
  2. Don't they make everything designed to take advantage of the individual trader sound so noble? "Hear ye hear ye fellow traders, from this day onward we shall all be equal to one another, trading side by side - ON PARITY!" Onward trade!!!!!!!!!!
    #22     May 29, 2019
  3. Would like to hear a clarification of this, too. It very much seems that floor trading interest can jump the queue.

    #23     May 30, 2019
  4. Robert Morse

    Robert Morse Sponsor

    The floor broker gets a match with whoever is next on the book. Floor brokers have had this privilege since the exchange has opened. When I was on the AMEX, a floor broker with an order could match too. None of this is new.
    #24     Jun 15, 2019
  5. TommyR


    understood also im definitely not complaining.
    #25     Jul 6, 2019