AIG crossed?

Quote from mnx:

was it by chance an NSDQ quote? NSDQ was corssing the market everywhere on NYSE this morning as they were having problems...

mnx
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Yes - SuperMontage etc was having problems today. Many stocks were crossed as a result and were not arbitrageable.

nitro
 
Quote from Babak:

Did anyone else notice that AIG was crossed for a good while this morning at 58.80-58.50ish ? I thought that it couldn't happen in reg mkt hours?

Can anyone explain this? Thnx
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I definitely had that problem at IB. I stopped looking at about 7 am, so the first 30 minutes on and off.
 
This may be a dumb Q but how are you supposed to buy/sell when it crosses like that? use limit orders? at which? bid or ask?

(it just happened for a bit in MRO during the recent ramp to 64.80ish)
 
You figure out which one is "wrong" and try to hit or lift it. In other words, if there is an offer at .45 and the rest of the world is bidding .50-.55, try to take the 0.45. You probably will get nothing done.

Worse, in the case of BRUT, it gets screwed up in a way that will hold on to your cancel until the market goes against you (i.e. real offers move down to 0.40) and then you will get hit. BRUT is so incredibly screwed up so much of the time. It's not just temporary disruptions - they actually have logic flaws. You'd think a little company like NASDAQ would be able to fix it or kill it, once and for all :(
 
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