sterling non-roundlot orders?

Discussion in 'Order Execution' started by BayStCaptial, Feb 23, 2010.

  1. Fractal

    Fractal

    Thanks for the info, jnbadger.
     
    #11     Mar 9, 2010
  2. jnbadger

    jnbadger

    You bet. As far as the original post, our sterling doesn't prevent us from sending small odd lots, so it must be firm specific. And they do take it pretty seriously. A while back a guy in our group was sending small odd lots for pairs, and got shut down for a while. Slap on the wrist, but he still should have looked into it first.
     
    #12     Mar 9, 2010
  3. thanks. I am not trying to send small lot orders but to match my short exposure to my long as much as possible. I tried sending some mixed lot (eg 160, 894, 468) to EDGX today but they are all rejected. Will try again using ARAC and others tomorrow.

    If still rejected, gotta leave some small unnecessary exposure or to switch firm.
     
    #13     Mar 9, 2010
  4. jnbadger

    jnbadger

    Understood. Yeah, try some other ECNs, and if that doesn't work, contact your firm. They should allow it. It's not illegal or anything.

    Good luck.
     
    #14     Mar 9, 2010
  5. thanks.

    I did, but the firm said they cant allow for some abcxyz reason.

    Will try tomorrow. cant see any reason why mixed lot orders are not permitted.
     
    #15     Mar 9, 2010
  6. jnbadger

    jnbadger

    Sorry, didn't see your other post. I'm thinking everything will get rejected if it's a clearing firm issue, regardless of the ECN.

    It sounds like you either need to trade large size with round lots to get the ratio right, or switch firms.

    Let us know how it goes.
     
    #16     Mar 9, 2010
  7. jnbadger

    jnbadger

    I'm curious as to how it went today. I'm also wondering who you clear through, if it's any of my business.
     
    #17     Mar 10, 2010
  8. no didnt work, tried different ECNs inc ARCA, none worked.
     
    #18     Mar 10, 2010
  9. fionacity

    fionacity

    u can use NSDQ to send odd-lot order
     
    #19     Mar 16, 2010