I thought Reg NMS was in place today? NEM has at least 1k on each open book level all the way down. BBO is 42.90 x 42.91 yet a run goes off on NYSE at 42.75? I can no longer trust an exchange that will let these prints go off. Anyone ?
You need to check the condition on those orders. They could be dealyed from the open, just delayed etc. There is whole bunch of diffrent codes each print in TAS has you are only showing 3 out of 4 or 5 columns, we are missing some info.
Out of sequence orders, no way to know when those orders were placed, we just have to 'trust' that they were placed earlier when the quote was at that level.
I no longer trade on NYSE, but floor traders and upstairs traders used to have access to a whole different book of orders that retail never sees. I bet that hasn't changed.
Out of sequence orders ? Are you kidding me? This is the worst time and sales I have seen since I began trading a few years ago. The stock of NEM is not tradeable with shares going off like this. I'm getting the feeling that the exchange is being defended with these responses. I've sent in outlines of trades and time and sales so - not expecting much - we shall see if the NYSE has a response. Anyone else with helpful comments.
Uhm, have you ever traded Nasdaq? It is not much different. Welcome to electronic equity trading. You really should not be surprised, not at all.
I think you are misconstruing my response as a defense, I don't like it any more than you do, but I don't have much choice except not to trade when those prints are excessive, like they were last Tuesday and Wednesday.