Anyone here use 85 share orders?

D

Dustin

One of my new strategies is getting 85 share fills on ECN's when a certain event happens on listed stocks. I am getting my fills from one guy each day and thought it would be fun to know who it was. Also, I have a question regarding your API...PM me.
 
You didn't know if you enter odd lot orders on the NYSE it's an automatic fill? Even if the spec shows 1 x 1 and I hit the button 2x I get 170 shares
 
Why is 85 shares the magic number? Also if you are a professional trader it costs 25 or 40 cents (i can't remember which) per share to execute through NYSE if you send odd lots.
 
Quote from Dustin:

One of my new strategies is getting 85 share fills on ECN's when a certain event happens on listed stocks. I am getting my fills from one guy each day and thought it would be fun to know who it was. Also, I have a question regarding your API...PM me.
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Dustin! "No odd lots" you know better than that!

Not just the rule (unless you're not covered by it) for traders, but it automatically gives you a bad fill and higher costs. You're not "matching the order" with some "guy" somewhere...just a bad full on a computer. (Interesting thought though).

Don
 
I am not the one entering the odd lots. I enter a round lot on ISLD, and get filled for 85 shares immediately every time this event happens. As far as I understand the rules this is perfectly legal for me because I'm entering round lots and getting the partials. As for the other guy, I hope he is not pro for obvious reasons. I would personally like to know what firm he is with because the API he's using is incredibly fast.
 
Quote from grimer11:

got to love big thinkers like "dustin" and "swipe" :D


grimer
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The bigger picture is I want to know who is providing his API. These fills I'm getting are free money for me 90% of the time, but small $ overall.
 
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