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At 9:59:36 JAZZ was 33, at 10:02:08 I bought some at 23.59. At 10:19 it's over 32. Are they going to let me keep this? I've had these buys on quick dips taken from me several times in the past. I haven't been able to find any news that might explain the dip. It's a mess when you sell a...

This is no longer true. Read my initial post. The rule changed in Feb 2009. If you need further evidence, an example can be found at http://www.optionsclearing.com/components/docs/market-data/infomemos/2011/jan/28241.pdf describing an adjustment for a $0.19 extraordinary cash dividend.

I'm relatively new to options and am trying to understand the rules for adjusting for cash dividends. As best I can tell, prior to Feb 2009 the rule is best summarized by this excerpt from http://www.optionseducation.org/resources/literature/options_central/2004_summer.pdf "Q: I OWN AN...

If an order is routed to SMART with a time-in-force of OPG it will execute in the opening cross of whatever exchange it is listed on. It is not necessary to route directly to the exchange.

I'm looking to buy bulk EOD option data that includes the closing bid/ask. I'm trying to decide between Stricknet.com (597 for 2003+) vs historicaloptiondata.com (1428 for 2002+). The other sources I've found are much more expensive. Stricknet is significantly cheaper, but...

This is the last 20 minutes on 6/26: Time Volume Last 3:40:00 6,619,853 .382 3:59:36 14,422,123 .38 4:00:00 17,072,121 .30 Closing cross 47,077,305 .37 From 3:40 to 3:59:36 total volume for the day more than doubled without any...

Yep. That's what happened to me. Just got done scrambling to exit my unexpected short position. Situations like this make me appreciate the NYSE. I wish this would happen to me when the stock doesn't bounce back. Just once would be nice.

I'm basically happy with IB. My experiences with IB have been good, if not perfect. Of all the brokers I've used (including etrade, ameritrade, fidelity, merrill lynch), IB is the best. Buy I am encountering a lot of problems at the moment. I haven't even bothering mentioning the cosmetic...

I've had a lot of problems with IB starting 8/17. 1) Constant connection problems on 8/17. 2) Running two copies of TWS, one wouldn't logon after ISP problems at 4:00 am on 8/18. I had to shutdown and restart at 9:20 am. The other sucessfully dealt with constant ISP problems between...

All afternoon.

IB routes MOO stock orders to what it considers the stock's primary exchange for execution in the exchange's opening cross. This is almost always the exchange the stock is listed on. NYSE, Nasdaq, Arca, and AMEX all have opening crosses. I'm not sure they have firm rules for stocks listed on...

I've had NYSE MOO & LOO orders accepted seconds before the open, even after 9:30. Nasdaq must be entered by 9:28.

I don't think Reg NMS protects time priority between exchanges. I would expect a router to select among all the NBBO quotes in order of the cheapest take fee. So quotes on NYSE would get filled first since their take fee is cheapest, then the next cheapest, etc.

I tried the Highest Rebate strategy today. It routed NYSE stocks to ISE which resulted in a .32/100 rebate. I'm not sure how it affected my fill quality.

Recently IB implemented these user configurable Smart routing strategies: • Smart - allows the Smart router to choose the best destination to maximize the rebate. This is the default strategy if no other is selected. • Highest Rebate - Routes to the exchange with the highest rebate •...

No. I have not.

I want to assess the impact of order size on the NYSE and Nasdaq opening cross. To do this accurately requires the order book. This would include all market and limit orders. It looks like Nasdaq's TotalView and NYSE's OpenBook might provide this information. NYSE charges a small fortune...

I've also been getting negative interest for the past two months. It was a shock to go from +.15%/month to minus. I just assumed it was due to reduced interest on free credit balance and increased short costs.

ARCA Targets 'Erroneous' Trades Problem http://www.tradersmagazine.com/news/102264-1.html?ET=tradersmagazine:e183:27817a:&st=email "The unit of NYSE Euronext has started to incorporate its competitors' depth-of-book data into its own depth-of-book feed. That will allow it to route orders...

Arca has busted two trades on me in the last month. My fills were at reasonable prices, not the obviously bad ones Arca frequently posts (opens at 499.99, buys at .01). No other exchange has ever busted a trade on me. Arca is a dangerous exchange. They have a much greater percentage of...