Hi, Just curious what the rules are for partial fills? Here's what happened to me today: Was long IBM for 1000 shares. Market started to dive, so I decided to sell all 1000 shares. Got filled for 300 shares. Next two prints, no fills, then I got filled for the other 700 shares at an additional 10 cents below. So essentially, my order was chopped up and filled at different times and prices...and not sequentially. What happened? Why did the specialist do this?
i always have partial fills because of my hold size. It is not common for me to ever see print be consecutive and I exit at market too.
you may have been filled for 300 nx and then put in the book for the rest. You may have been filled for 300 then guys nxed and then you got filled. you may have been routed away or most likely you got part filled then the specialists friends got filled and then you got filled some more. If the ge specialist was a crook the IBM BZH specialist is Al Capone. I did shake his hand once and still have my fingers so I am not totally convinced he is a crook but I really saw no difference between him and the ge guy. Both jerk offs many times.
jem that is hilarious. Depending on your broker, your order might never have seen the specialist Many of these online brokers don't have memberships at the NYSE - that would be too much like professional. Most route your order thru MM's like Nite, TMBR, etc. Ameritrade routes you to Island first no matter what. If you are using someone's smart order routing , you probably never reach the specialist's book and thus are never in line.