arca reserve order

D

daytrader06

Last friday, I found a interesting thing. I reserved 1000 shares on arca, and then reserved another 1000 shares on arca. After 2 minutes, I got filled by 200 shares. But I found I have 900 shares reserved on first arca-order, and another 900 reserved on second arca-order.

How is that possible? I thougth I should have 800 shares reserved on first arca-order and 1000 shares reserved on second one.

Any comment?
 
Generally speaking, for a given price level, the displayed portions of all orders will be executed before the non-displayed portions...You had 100 shares displayed and 900 hidden on each order...so 100 shares got executed from each order first (displayed portions)
 
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