IB NYSE Opening Cross Order Execution

Discussion in 'Order Execution' started by palffy, Nov 24, 2010.

  1. palffy


    Can someone with experience clarify a few questions for me..

    1) The open price listed in IB TWS--is this the official NYSE opening cross price or the consolidated open?

    2) To participate in the NYSE opening cross, do your IB orders need to be routed to NYSE only?

    3) Are there any restrictions (odd-lot, whatever) that would prohibit one from routing OPG orders to NYSE directly?

    Thank you in advance!
  2. 2. yes, you need to route to nyse.
    3. for < 100 shares oddlot, not sure. > 100 no restriction. no other restrictions i'm aware of.
  3. Usually.

    It's the first print, which is usually the NYSE opening cross price. Sometimes though, the NYSE is a little slow in reporting and a
    price from another ECN or Exchange slips in.

    NASDAQ crosses, on the other hand, are almost always the
    first print. Naz seems more efficient in reporting than the NYSE.
  4. palffy


    thank you to Kevin and propseeker for your responses. So I have more followup question that I don't think has been answered in previous replies on this forum..

    1) Is there a free source available which provides the official NYSE's opening cross?
  5. d08


    1) Nope, because NYSE isn't a modern state-of-the-art exchange like NASDAQ.
  6. nyse.com
  7. fbell50


    If an order is routed to SMART with a time-in-force of OPG it will execute in the opening cross of whatever exchange it is listed on. It is not necessary to route directly to the exchange.