Nyse Changes.......how Will They Affect Us?

Discussion in 'Order Execution' started by grimer11, Feb 5, 2004.

  1. Two changes have been made regarding the n/x order execution.......the limit of 1099 shares has been eliminated and the 30 second rule in between transactions has been eliminated....no word yet unforunately on the bullshit 5 cent rule.........Will these changes help or hurt our environment?....I've yet to see a rule change in the last 4 years which worked to the day trader's benefit, but we'll see how it goes.......happy trading.

  2. Mecro


    Great, nothing like idiot NYSE traders Nxing non stop back and forth for no particular reason.

    The whole NX thing is not even a good thing.
  3. You' re a fan of the status quo?........I am, just because I feel I know the current game much better........wondering as to these changes future impact on volatility, and more importantly the relative "smoothness" of the NYSE aas opposed to the moronic, computer-dominated 80 cent wide in 100 shares NASDAQ.....As i said, I've never seen a rule change in our favor, but our job is to adapt , adapt, and adapt some more.

  4. hopefully it goes through!
  5. bdon


    Nx monkeys ruin trades. Learn how to read the tape and where the specialist is printing stock. no reason to sell stock at the figure, when continual prints go off at .01 because there is a crowd buyer.

    The NYSE needs to eliminate the NX as the specialist is truely using it against the daytrading shorts right now. 80,000 shares to drive a stock down 30 cents, but only 400 shares needs to go off to take it back up 20 cents. The specialist hangs out a number 5 cents away and presto some monkey hits the button for a 100 shares and if the crowd short returns he has to come back at the higher price, he doesn't normally care since crowd positions are usually being established for longer term follow through.

    Nx'ing isn't trading and is generally used against the daytraders. If it must stay around then a real ruling should be made to leave it on all the time. Whenever you really would want to use it the specialist turns it off with a 1 up.
  6. thats funny
  7. I'm with you.........i'd rather sell 1000-1500 shares at market, keep a portion of remaining position, and gather the information from the way the specilialst handles it...an improvent, or a fill on the offer is valuable information to me, but my style may be going the way of the buggy whip.

  8. nx is hardly ever used for selling now, but if a stock is going to run you might be able to buy 5k instead of 1k
    #10     Feb 5, 2004