Fills on NYSE

Discussion in 'Order Execution' started by bonds, May 16, 2007.

  1. bonds


    I was trading ford today and was offering 76 on NYSE, as i was getting filled the prints were going off as

    8.76 10000
    8.76 4700
    8.76 2000

    and my fills were for 5000, 2400,1000 etc.

    so i was getting half of what was going off. i have been trading for a while and have always got the full prints from what ive noticed (iie f 5k goes off at my level i should get filled for full 5k). i questioned my prop firm and was told its always been like this?!?! sometimes you get half, sometimes you get 1/3 is what i was told.

    can somebody explain this to me, and if im only getting half the prints who's getting the other half?

  2. A) Do you know for a fact that you were the only one on the book? Chances are you were not and how do you know you were first in line?

    B) There may have been orders riding with the specialist that have priority over you. There may also have been market orders.

    C) Your prop firm does not seem like a good one, because at the least they should have made an inquiry to the NYSE to get the story
  3. Surdo


    If you are on the book and a broker or two is in the crowd, you split the prints.

    Often times, a broker has the Specialist match for them.

    Be glad you are not getting pennied every time stock trades!

    el surdo
  4. how many shares were you wanting? did you have a full order of 10k out there and only got 5k of it? or did you only want 5k?
  5. bonds


    actually i was long 20k and was getting out at 8.76, basically what was happening was that after waiting get out on nyse, when i finally started getting my offer executed i was only getting half of the 76 offer prints (ie a 10k print would go off at 76 and i would get 5k of my sell order executed). so i had a sell order for 20k at 8.76 at this time, and when i started getting fills on it i was only getting half the nyse prints on the time/sales.

    i hadnt had this happen to me ever before and thought it was irregular.
  6. could be mistaken, but pretty sure there is a type of go along order or married order that a floor broker uses. it will divide the liquidity with buy orders (sell orders) coming to the market.
  7. i see the same thing happening to me as well. i don´t know the rules regarding to this, but i sure hope the specialist isn´t screwing me over to get his buddy on the floor out before me.
  8. bonds


    i still dont understand why i have to share the prints, if i am first in line i should get all the prints till i am filled, if someone else is in front of me, they should get all the prints until they are filled.
  9. maybe because the rules for floorbrokers are different than for you.