Extended hours trading question

Discussion in 'Trading' started by NoDoji, Mar 23, 2010.

  1. Hi NoDoji

    As has been stated before it's most likely due to the nature of allowed order types on the ECN. It has happened to me that orders have been filled outside of the spread as well as I have been left with orders even though there are prints suggesting the price has been hit.

    Part of the answer could be that you are watching a consolidated level2 quote where you see the best bid/ask spread available. The prices displayed on a particular ECN may not reflect the prices in other concurrently operating ECNs dealing in the same securities. Thus any order you enter against the consolidated bid/ask spread might be outside of the spread on your chosen ECN destination route and a print might show up that looks weird to you.

    For those of you that are interested I'm including a link to ARCA order types.

    www.nyse.com/equities/nysearcaequities/1157018931913.html
     
    #11     Mar 26, 2010