NYSE Opening Trade Place by ???

Discussion in 'Trading' started by ChadZ1, Dec 7, 2009.

  1. ChadZ1

    ChadZ1

    I Tried to find this else where and had no success, probably because I don't know the exactly correct terminology to search for.

    Anyway, does anyone know offhand the time by which an opening trade needs to be placed on the NYSE to be included in the opening cross? I was under the impression that it was 9:25 EST?

    Thanks!
     
  2. i believe its anytime before the opening happens.

    sometimes the opening cross happens after 9:30
    in those cases, you can place your MOO/LOO orders after 9:30 as well, as long as its before the actual cross.
     
  3. It's 9:20AM for MOO, and 3:50PM for MOC orders, it's on the NYSE website if you dig for it.

    You can get around that if your order is the opposite of the order imbalance, but that is another day's lesson!

    I was a telephone clerk on the NYSE in another lifetime, unless the rules changed, these are the timeframes.

    good trading ya'll!

    e p
     
  4. maler

    maler

    el pollo,

    I wanted to ask you a question regarding the opening process
    on NYSE.

    Is the opening cross the first print reported to the consolidated
    tape by the specialist, or are there prints reported prior to the opening cross (perhaps for some trades made late last night or premarket stuff done by the specialist).
    I am not asking about prints from
    ARCA which can happen any time ARCA is open.
     
  5. To be honest, I worked there PRIOR to ARCA merging with NYSE, yes I am old(er)!

    I am guessing that NYSE floor prints by the specialist are independantly paired off on the floor PLUS electronic trades routed for the NYSE.

    I assume this is seperate from the ARCA stuff trading pre opening. I do not know how mister NYSE specialist has integrated with ARCA trades both pre and post 9:30AM.

    el pollo
     
  6. There is no time limit, as long as your order is there before the stock opens. Same rule applies if a stock halts mid-day, you can place an OPG order for when it re-opens. There are size and time priority rules, so you aren't guaranteed a fill if the stock opens at your price, but the specialist can't trade through your price.
     
  7. If you send a MOO, or MOC order less than five minutes prior to the bell you are not guaranteed the opening/closing price or execution.

    It is gets rejected by SIAC (BBSS Dot System) automatically.

    There are obviously ways around this by entering a regular market order.

    As I mentioned price betterment in the opposite direction of the order imbalance gets manually accepted by the specialist, but not by the machine.
     
  8. ChadZ1

    ChadZ1

    I see, thanks for the info.
     
  9. I send hundreds of them every day less than five minutes to the open and they are not rejected. As long as you route to the nyse and mark it opg, it will be accepted if the stock is not open yet. It doesn't matter what the imbalance or indication is.