Not getting filled on hidden orders?

Discussion in 'Order Execution' started by Darshan, Nov 14, 2008.

  1. Darshan


    For all of you level II traders I was wondering if you guys how orders can print on isld through your bid or offer?

    I've been trading some thinner stocks as of later and I'll have hidden isld on the inside market and I consisently see print on isldthrough my price.

    It only seems to happen at very opportune prices, these prints often tend to be the high/low of the move... I consisently notice this in NYSE and NASDAQ stock...

    Wondering if anyone had insight into this

  2. Lucrum


    Maybe your orders are a little too well hidden.

  3. For both NYSE and NASDAQ getting prints on hidden ISLD is stock specific. For eg. pretty easy for GOOG, SHLD and BIDU. For most NASDAQ stocks you shouldn't have trouble.
    For NYSE please name your stocklist maybe I can help.
  4. qazmax


    Could be a cross. Since yur order is not displayed, it would allow a cross to go up through your price.

  5. kean


    make sure you are using isld's stgy as your routing method
  6. trom


    Are you absolutely positive it's ISLD prints you see going through your price? There are plenty of other books that print on NAS that aren't ISLD. If you're seeing size going off in illiquid stocks, there's a good chance it's dark liquidity.
  7. Darshan


    I get filled most of the time, but there are many instances where I the print will show up on isld (Nasdaq) through the price when I'm offer a better price...don't quite understand..
  8. Darshan


    I'm putting the orders through isld, if that's what you mean
  9. Darshan


    Perhpas, do dark orders show on the print screen on a typical Level II? The destination shows it's coming from Nasdaq, so I'm not sure what to think