comments on fills on nyse hybrid this week
- Thread starter joeyata1
- Start date
it works just like the naz. what i've noticed is nyse quotes are taken out before arca many times on more illiquid issues and you're sitting there waiting for a fill and then they drop it. so to say $2 per thousand could cost you much more in missed fills. but for fatter moving stocks its ok. now if you post on sdot and arca's the best bid or ask they'll reroute you and charge the .00025 fee plus your base rate. persoanlly i think it's a precursor to a total move to electronic in the next year. how the heck can they pay you a rebate on 1 side and allow you to exit sdot on the other with no fee?
mcelitetrader
ET Sponsor
I had a trade on NEM where he was showing 100 arca offer but time and sales showed that ~2million shares were going off at the level. People were smashing the 06 offer so hard that 07 NYSE prints were going off.
After staring at it and realizing that my 2k long wasnt going to break i started scalping it. I would hit the long on SBSH and then offer out NYSE taking 06 long and getting out at 07. I was able to do a few of these for a quick buck then managed to be in a long when she finally broke.
Im seeing that the last levels to clear are always the arca shares. Nobody wants to hit them for the sake of a few bucks. I am seeing the benefit in being the one to take them out when levels have cleared and the arca is all that is holding the BBO from moving. I'll gladly pay a few bucks to get those shares....especially if i can get them out on arca again to some other friendly trader.
After staring at it and realizing that my 2k long wasnt going to break i started scalping it. I would hit the long on SBSH and then offer out NYSE taking 06 long and getting out at 07. I was able to do a few of these for a quick buck then managed to be in a long when she finally broke.
Im seeing that the last levels to clear are always the arca shares. Nobody wants to hit them for the sake of a few bucks. I am seeing the benefit in being the one to take them out when levels have cleared and the arca is all that is holding the BBO from moving. I'll gladly pay a few bucks to get those shares....especially if i can get them out on arca again to some other friendly trader.