I figured out NYBOT soft commodities matching algoryhtms were based on price/time priority, but I was first on a queue yesterday afternoon and didn't get filled... Is there some exceptions( I was on cocoa ) or is there some hidden orders? Thanks.
It was not far ahead, I just improved the ask at a time the market was slow and saw 10 lots getting filled before my 2 lots. On ICE website, they claim to use FIFO algorythm "most of the times" or something like that. I don't remember the exact sentence. It can be a spread order or some hidden liquidity( like on cbot )or an another algorythm used at the time... I don't know I would just like to be aware of it for the next time I trade.
Slightly off topic but today I bought Dec Cocoa but I did not realize that I checked Nymex on the IB prompt instead of Nybot. After I noticed this I got out with a limit order and placed an order to reenter at Nybot a few ticks below and I got it. I did not think there was any trading in the Nymex softs but I guess there is. The seasonal is positive for Cocoa for the next few weeks. Regards GC
No, I haven't ever done that for anything. I got my 2 lots filled seconds after the other 10 lots fill and didn't lose anything on it I just wanted to clarify the limit order priority on NYBOT since I am a new trader on it... Thanks