Observations on the NYSE specialist.

Discussion in 'Order Execution' started by oliver777, Feb 14, 2006.

  1. Hamlet

    Hamlet

    I think a big part of the problem that some traders have with the NYSE is the "shroud of mystery" about what goes on at the floor. This is especially true of the newer traders who "grew up" in the ecn "digital age". Only a lucky few are able to actually get a chance to visit the floor, which is a shame because it really is an eye-opening experience.

    I understand and relate to the skepticism and cynicism felt when a call is made to check the status of why an order which was not filled at the time and/or price that it seemed like it should have. Often the answer is "stock ahead", and that is usually the best transparency that you are going to get. I am sure that this is legitimate in most cases, however for a trader who is competing for dollars to accept this on blind faith is sometimes difficult, and no one is immune from that. Such is the nature of an auction market however. It is no different for anyone trading the big futures contracts with the pits. that is the way it functions and you can accept it as it is and work with it or not.

    On a side note, it's too bad that this thread was moved. It was one of the most popular threads in ET history. I guess that is a testament to the interest in the subject.
     
    #451     Mar 2, 2006
  2. Babak

    Babak

    NYX debut. The floor erupts in cheers and some very noticeable boos... lol

    I wonder why? :D
     
    #452     Mar 8, 2006
  3. If the traditional NYSE "hump the chump" business model falters, then perhaps its public offering will enable transition to a "pump and dump" business model.

    Why was this thread moved to the Order Execution forum? Execution was only one facet of our discussion about NYSE trading. The change in forums seems to have helped kill the discussion.
     
    #453     Mar 8, 2006