Redibook shorts in afterhours

Discussion in 'Order Execution' started by janko, May 1, 2002.

  1. janko


    quick question guys, could anyone tell me how does redibook handle shorts in afterhours. the reason is is i had a client short XRX two lots, 800 and 500 shrs at 8.78 and 8.52 and for some reason it posted it to the book as 8.90 and 8.91 those lots showed up. now how does this happen? the guy at redibook says this is what the stock needs to uptick to in order to get those orders going. now i thought that in afterhours you dont need an uptick, or heck even if youre offering out your order should be still displayed. am i right or am i missing something? thnx guys
  2. mjt


    I've had the same experience. It is my understanding that what you were told is correct; for some reason on NYSE stocks the Redibook requires an uptick, and your order will be changed to a penny over the closing price.