Is this a bad "AON" fill?

Discussion in 'Order Execution' started by a529612, Mar 29, 2007.

  1. Is this a bad fill for an "AON" order? Are they allowed to split it up into different lots? Thanks!

    Order: Buy 20 XYZ Apr 07 Call @ 1.5 limit "AON"

    Executed (at the same time):

    12 XYZ Apr 07 Call @ 1.5
    8 XYZ Apr 07 Call @ 1.5
  2. craneman


    who cares, you got your whole order filled at the price you wanted.
  3. ==============
    You got your ''all'', not nothing;
    at your price:cool: Good fill
  4. jessie


    It just means that it got carded (assigned) to two different counterparties. It's not unusual to split an order like that, often it is the only way to get it all filled. Let's say that there was no one willing to take the other side of anything bigger than the 12-lot... would you rather not have gotten the fill? The "AON" refers to your side of the trade, not the other, it can be done in any manner of ways. In a big order, it might be split 6 ways, one part of it a piece of somebody else's spreads, another to close out a local's position, etc.
  5. Why would you even ask?