This morning I had a time-triggered (9:21AM) BOO order on NYSE for COT. The trade price returned by IB is 14.70, 3% above the opening price quoted by NYSE at 14.21. I called IB about this, and was told the actual open price is 14.70, even though Yahoo, NYSE, Bloomberg all say COT opened today at 14.21. Can anyone with a more accurate data source verify IB's claim? (Not that I can imagine a source more accurate than NYSE itself :-/) Did IB screw up and won't admit it? Or does this just happen now and then on NYSE? From my experience, BOO always return the opening price on NYSE, is this not reliable?
I am not clear what you mean by "a time-triggered (9:21AM) BOO order on NYSE". Here are the order types: http://www.interactivebrokers.com/en/trading/orderTypesMatrix.php?ib_entity=llc NYSE has precise rules regarding the official open. If you specified NYSE routing, got your order in on time, and specified LOO order type with a limit at or below the official open, or MOO order type, you should get filled at the official open. If you used Smart routing, or some other order type, you probably got filled on an ECN under conditions of poor liquidity or filled late. It doesn't sound sound like a broker mistake to me.
today's chart clearly shows the open at 14.70. The price didn't even drop into the 14.20 range until after 11am. Yahoo and the like can reflect a print that occured after 9:30 OTC but prior to the actual opening print at the NYSE, which is where your print is routed.
I see. So the problem is with those websites which show pre-market activity as the opening price. Thank you guys for checking...
Its depends on your definition of premarket. They won't reflect anything prior to 9:30 that occured, but since NYSE didn't open trading in COT until after 9:40. Yahoo or whoever took the first print that occured after 9:30, which happened to be OTC, for their chart.