it msut be music to your ears seeing all the naz guys of the last 10 years migrating to nyse stocks since you were really the first all nyse shop.no doubtr nyse stocks trend better with less chop up and done bvut the fills are more tedious than naz. don is there a real difference going directly threw sdot with no 3rd party vs going threw a nyfix or merril dot to get a nyse fill. i've used both and the biggest diiference i see is fewer price improvments as a nyfix flls many in house
Don (or other execution experts), would you care to clear this up once and for all: http://www.elitetrader.com/vb/showthread.php?s=&threadid=54277 Thanks.
How does the specialist 'work orders'? Do floor brokers say they want shares in a certain price range and the specialist matches up incoming larger orders with these off the floor orders or does this refer to someting else?
I totally agree, these "guys are good" (as they say). I am having some people that are doing a TV special for the Discovery channel go to the Floor as my guests to see the Specialist system in action. I don't think they will be allowed to tape this (too bad), but I hope they get a good understanding of how things work. With the ARCA/NYSE merger (buy out, whatever), we should have the best of both worlds, single place order execution combined with immediate fills....I'm optimistic, but we'll have to wait and see of course. Don
Here's an article entitled "Latest NYSE Hybrid Plan Helps Specialists." :eek: http://www.tradersmagazine.com/magazine2.cfm?id=1&aid=2316&year=2005 Math_Wiz
I guess you mean this: I've read all the threads and posts (searched ARCA uptick) and I'm really confused about something that has been talked about ad naseum here. That is, whether an ECN - ISLD and ARCA are often named - allows you to sell short with no regard for an upbid or uptick. Some say that the ECNs ultimately have to follow the exchange rules, some say that the ECNs can ignore the uptick rule only when/if both sides of the order originate from them and still others say that you have blanket immunity from the uptick/upbid rule when using ARCA (some also say ISLD). Can anyone offer the correct answer and separate myth from fact? Much appreciated. ------------------------------------------------------------- OTC stocks must still follow the "uptick bid" rule, and listed stocks must follow the "uptick trade" rule, with the exception of the test stocks at this time. "1000 stocks (âGeneral Pilot Stocksâ) chosen by the SEC from the Russell 3000 Index will be completely exempt from the bid/tick tests of the short sale rule at all times for 1 year (May 2, 2005 â April 30, 2006). The list of General Pilot Stocks can be found at: www.sec.gov/rules/other/34-50104.pdf" Also: "After-Hours Pilot Exemption: All Russell 1000 stocks that are not General Pilot Stocks will be exempt from the tick test for trades executed between 4:15pm and 8:00pm, Eastern time. (NASDAQ stocks will be exempt from the bid test from 4:00pm until 9:30am, Eastern time, consistent with current NASD rules). " I'm pretty sure that we have posted this stuff before, but if anyone needs further clarification, feel free to PM or email me. (don@stocktrading.com). Don
Don, can you please post the original pdf file of those stocks exempt from the uptick rule, the SEC.gov link is bad. Thanks, Eric
The only time i use market orders on listed is when the market is moving away from me and fast....and 7 or maybe 8/10 times, it turns out to be the right thing to do. Your mileage may differ.