NYSE Increments

The 5c rule is just for Direct+. For example if the offer is 6c away from the last price you can not NX it.

 

Thanks, then I suggest grimer change from Direct. Everyone else can put orders wherever they want.

 

It just turns into a limit order at that point so it won't help him.

 

If it's not NSYE+ then it's DOT.

 

The rules do not matter. The only thing that really matters is how much the specialist is making off you. If he wants to fill you even though the rules says he can't, you'll get filled. How many people have gotten short on a downtick that turned out to be a bottom?

 

You've told me in a PM that you use NX a lot and those are the best possible fills.

How could you not know about the 5 cent rule?

 

"Merlin"..........thats information too.


grimer11

 

I use NX dozens of times a day and myself, along with all of the successful NYSE traders I've asked, have no idea about any 5 cent rule. Nobody on this thread has been able to explain exactly what the rule is, except that it's only applicable to Direct X users, which I am not.

 

5 cent rule is simple. If its not Direct+ then it is DOT. If it is DOT then you don't get the electronic fill but a "DOT" fill.

 

kills volatility........KILLS IT.....its an insane rule for all involved.


grimer11