Island not suppose to accept market order

Discussion in 'Trading' started by spieler, Jun 18, 2002.

  1. spieler


    In after market today i short 2000 VRTS 24.94 then INCA stays on BID at 25 with 10 and buying everything.
    At that moment the best bid on island was 24.76.
    I send an order to cover my short at 24.77. minutes later i was out with 340$ profit and INCA was still at 25 at the bid.
    In T&S the trade was reported with CINC ( On qcharts) instaead of nasdaq.
    What do you think happened?
    A guy typing the wrong number?
    Thank's that guy :)
  2. spieler


    Perhaps the guy was a great DT 'cause now an hour after VRTS is 24.5$ !!
  3. With IB you can send a market order to Island... It must be some
    kind of simulated market order...
  4. you were probably best isld bid.pretty simple.
  5. spieler


    Of course i was best bid that is why i put my trade there butINCA ;ARCA redi were a quarter best bid than me.
    I use to after day trade and it is perhaps the fisrt time things happened like that
  6. You got a guy who sold through Island. Probably did not have access to INCA. After markets still present good arb opportunities cuz some brokers are exclusive to one ECN after hours, and ISLD (I think) and INCA only match internally and don't hunt the other ECNs for best fills like REDI and ARCA.

    Maybe they won't in the future either now that they are combining.
  7. def

    def Interactive Brokers

    in after markets, the ecn's aren't held to the NBBO. Next time you see something like this, turn around and flip it on INCA.

    The other possibility is that INCA had quote or tech problems and weren't updating their price.
  8. shushhhh!!!!
  9. was a blast after hours, how bout that chump who bought 50k at the high