FIVe sec refresh on Open Book

NYSE OpenBook now refreshes every FIVE seconds. NYSE OpenBook offers
market participants a comprehensive view of interest outside the best bid
and offer. It provides aggregate limit order volume information for all
bids and offers in all NYSE-traded securities. Effective immediately, the
refresh time for updating NYSE OpenBook information will be reduced from
10 seconds to 5 seconds.


Just released....

 

Whoo..whoo.. I'm Real impressed.

What would be the matter with the book being real time? If the orders are there, put them on the book, if they are bought/sold, then take them of the book.

Besides, the thieving specialist don't necessarily update when they are supposed to anyway.

Or they freeze the book, or ignore the book, or whatever the heck they please.

And.. the floor traders should have to put their orders in the book too.

How about a fair market for all?

Naw..., they don't want that do they?

 

Their network can't handle it. They are still running at like 12.2 baud

 

12.2 baud ???? And they claim to me technologically advanced.......ha ! What a crock of **** !!!!

 

P.S. to last mail.....all NYSE has to do now is remove that one statement in their code stream, that reads "SLEEP (5)".

 

Send your order at 12:59:00 pacific on a busy day or 3:59:00 Est and see if it makes it? Depending on your DOT provider, I really doubt you'll make it. Regionals are way faster.

 

I trade via cable modem and get orders executed on NYSE names at 3:59:30 all the time.

 

I'm sure you do get executions all the time at 3:59:30, I'm talking on the few busy days when there is a lot of trading going on near the close. That's when you know when your DOT provider is fast or not because not everyone will be able to get their order over there "Acknowledged" most of the time it will get rejected on a busy day. But also, you may think that your order is there but in reality your order got rejected and you don't recieve that message from your B/D thereby no order at the close. It depends on who you trade through. You may also note, NY only allows so many orders down per member per second regardless on how many or big their pipes to the floor. You can have 20 T-1's but if there are a lot of orders from that member coming down at the close not all of them make it. Think of the freeway effect. It's roughly 100 orders per second and then they get staggered in once they hit the peak. I've also tested it myself by sending orders in 30 seconds before the close on different DOT's, some make it and some don't. Depending on your DOT provider depends if they make it or not.


Jeff--