Help! I want a new specialist

Discussion in 'Order Execution' started by eagle488, Nov 11, 2006.

  1. This post is just for fun so I can vent on this guy who is the specialist for Western Union.

    Western Union never seems to trade "on-time". When the bell rings, it takes like 5-10 minutes before any trades start going.

    Then when I do finally enter a trade on IB, it seems like it takes a few minutes to see any execution. It doesnt matter if its a market order or a limit order that is above the ask price.

    At the end of the day, the stock always mysteriously starts selling off and trading becomes especially slow as if the specialist has run out of gas.

    When my orders do get around to executing, then I see a sudden plunge in the share price as if my orders were routed to the higher asks.

    There are times during the day where I believe the book is frozen because the bids and asks suddenly freeze for no apparent reason and then there is a sudden surge of orders.

    I have turned on the song "Joey and the Specialist" during my trading day.

    I really hope that they go to 100% electronic trading on Western Union. Please. . .