Offer on NYSE never showed on TWS

Discussion in 'Order Execution' started by tt1452, Jun 12, 2003.

  1. tt1452


    This afternoon a large block of SNDK (50k)was offered at $38.99.

    I entered a order to sell 100 shrs at $38.98 using smart routing on TWS. The 38.99 continued to show

    My offer never showed and the next trade was at 38.93 while the offer price remained at $38.99.

    Any thought why this happened??
  2. For one thing SNDK is Nasdaq not a NYSE stock. I don't know anything about TWS smart routing but from what you said it looks like you were trying to front run the size by a penny instead of just hitting the prevailing bid to get out. Why would you do that if you really wanted out? unfortunately that is the risk of finessing an order to get out.