AMEX Thievery

Originally posted by NYSE Trader
Has anyone had this experience with an AMEX etf specialist: I put in an order on SPY 5-10c under the current bid, the e-minis turn down, so I cancel the order, the specialist holds and holds until the futures and made a strong move down, then fills me AT my limit price which is 10-20c away from his published offer (no price improvement). Its absolutely criminal that they get away with this...on NYSE some specialists can be holders, but your fill will generally not occur outside the bid/ask spread. Are they able to get away with this? Has anyone been successful in busting a trade like this?
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LOL LOL LOL, sounds like nothing has changed since i tried the amex 4 years ago..same little crooked games!!!! when will these guys get a clue?!!!!!!!!!! do they still charge for cancelations???
 
Originally posted by tradeoes
I wrote a handbook on executions and what to look for if you think you got a bad execution.

Click for Listed Handbook

Jeff--
OES
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Thanks for the handbook. I'm not so sure the AMEX spec is a crook afterall. I didn't know that the AMEX spec could trade through your order and it's legal for him to do that. Do you know what their reasoning is?
 
There's lots of variables in play. But in general they're not suppose to trade through.


Originally posted by Tradesman


Thanks for the handbook. I'm not so sure the AMEX spec is a crook afterall. I didn't know that the AMEX spec could trade through your order and it's legal for him to do that. Do you know what their reasoning is?
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