Wierd mojo out there.

Discussion in 'Trading' started by dcunited, Mar 5, 2003.

  1. It's very possible I'm simply losing my mind due to severe boredom, but over the last few days I've seen more prints go off outside the inside quote on NYSE stocks than ever before. My primary thought is that my quotes are screwed up, but my fills are in line with my quotes. Moreover I'm pretty sure these aren't ECN prints as I filter those out from my quotes. An example was MRK today, all day long prints would go off a dime outside the spread, sometimes the quote wouldn't even be adjusted afterwards to reflect the prints.

    Anyone else witnessing this?
  2. tfmoney


  3. its called "liquidity market" and its a large bid and offer outside the best bid/offer. get used to it all stocks will be traded this way. la branche specialist are testing it out. i know ccu and mwd are 2 guinea pigs and there are more, but there isnt a list yet because they are waiting for the nyse to give their stamp of approval. once its approved you will be able to see this liquidity market on open book.
  4. That could explain it..yep MWD was an offender, and just checked LAB's list and there are a few others on there that have gone haywire. This could get interesting...
  5. nitro


  6. Isn't this the topic that someone else started on another thread where they will also be changing how they handle price improvement because of this liquidity quote. I think that was thrown in with this new rule change by the SEC. The thread was something about the death of listed trading. You can click on the SEC link on that thread to read about it.
  7. burnin


    Does anyone know of anyone using this liguidity quote feed?.... At $5000. a month, my guess is that the customer base is strictly institutional. (If I could get better fills outside the mkt all day, I guess it would be worth it?)Would love to hear from any one who has used.

    I find it hard to believe that the data could show everyones"hand".
  8. Is it just me or is anyone else here thinking that the liquidity quote together with the open book will be like a "poor man's level II"? (Or as the case may be a rich man's level II obviously)
  9. Listed trading seems like it will be a joke in the future.
    #10     Mar 5, 2003