I entered a limit order fri 7/20/2001 :
Buying 200 shrs HI-T @24.75 12:33 :37
10 seconds later it executed for 100 shrs :
Bought 100 shrs HI-T @24.75 12:33:47
Buying 100 shrs HI-T @24.75 ( now trying to buy the other 100 shrs )
At this point the quote according to time and sales was 25.75 (100) x 24.99 (1200) 12:33:50
obviously my 100 shares being next in line to be bought
the next trade occured 37 min. later with 600 shares being traded at 24.75
and I did'nt get any of them . How could this have happened ?
their support told me it was because they routed the order to the NYSE and the 600 share trade occured on a regional exchange and that it was one of those one in a million type things ?????????????
NYSE and AMEX stocks routinely trade on the regional exchanges as well. This would include Chicago, Pacific, NASDAQ, Cincinnati, etc...
This is not a 1 in a million occurance. In fact, it happened quite often when I used to scalp thinly traded stocks on the NYSE/AMEX.
To solve this problem for yourself, get a quote feed such as PC Quote which shows you the regional exchanges, as well as the Time & Sales including which exchange the trade went off on. That way you can verify for yourself that the trade did happen on a regional exchange.