NYSE Order question

Discussion in 'Trading' started by mktman, Mar 12, 2002.

  1. mktman


    Question concerning locking or crossing NYSE market with order.

    If enter an NYSE order where

    a. my bid = offer


    b. my offer = bid

    Then locking and crossing market will occur.

    Only way to avoid this is hit an ECN with your order or placing
    bid < offer or offer > bid?
    Cant hit NYSE with order?

    Thx for help.

  2. The NYSE is not an electronic exchange so your order will not lock or cross the current market.

    The specialist will take your order and either execute it or use it to update the quote (if the stock trades ahead of you or the bid/offer cancels).
  3. If you use the NYSE ECN (NX) then you will be filled. If it is a simple limit order, then you are given "time priority" and put into the "queue" and will either filled or "displayed" in proper order.