Can people jump ahead of your limit orders on NYSE b/c of the "parity rule?"

[qlai]

I don't know about what they must do, but below clearly suggests otherwise.

"Parity requires that orders from floor brokers, the designated market maker, and the top of the electronic limit order book trade together. That is, floor trading interests can trade ahead of equally priced, previously arriving orders in the limit order book."

 

[Love2Trade$]

Don't they make everything designed to take advantage of the individual trader sound so noble? "Hear ye hear ye fellow traders, from this day onward we shall all be equal to one another, trading side by side - ON PARITY!" Onward trade!!!!!!!!!!

 

[GRULSTMRNN]

Would like to hear a clarification of this, too. It very much seems that floor trading interest can jump the queue.

I don't know about what they must do, but below clearly suggests otherwise.

"Parity requires that orders from floor brokers, the designated market maker, and the top of the electronic limit order book trade together. That is, floor trading interests can trade ahead of equally priced, previously arriving orders in the limit order book."

 

[Robert Morse]

So if you are a floor trader you get priority over orders entered at the level earlier in fill allocation on incoming market orders. So if you leave static orders you will notice not being prioritized. Probably works the same as backdating the timestamps.

The floor broker gets a match with whoever is next on the book. Floor brokers have had this privilege since the exchange has opened. When I was on the AMEX, a floor broker with an order could match too. None of this is new.

 

[TommyR]

The floor broker gets a match with whoever is next on the book. Floor brokers have had this privilege since the exchange has opened. When I was on the AMEX, a floor broker with an order could match too. None of this is new.

understood also im definitely not complaining.