Illegal activity by AMEX options exchange?

Discussion in 'Order Execution' started by Justask, Jul 8, 2009.

  1. Justask

    Justask

    I sold 1 option of SANM at $.10 on AMEX which is the only available options exchange for SANM,which shows I am first on line. Then, 29 more options were filled several minutes later, and the fill was not granted to me!? What is going on here?
     
  2. most options exchanges work on a market maker system- not a specialist system (although there is a "specialist" there- he is just a lacky that puts orders into the book....)

    in any case, in a market maker system, volume can trade at your price and not trade with you- depends where the order came from and who it went to.

    If you want to complain you can contact the desk you trade through and they can contact a floor governor on your behalf- but i wouldn't hold my breath.
     
  3. nothing illegal about it btw.
     
  4. Occam

    Occam

  5. Justask

    Justask

    It seems the issue actually is not AMEX, rather it has to do with the smart route of IB after a partial fill!!