Getting filled on ARCA

M

Mecro

Hey everyone,

Ok today out of nowhere we got filled on ARCA when we sent an order before market open on VSH. The lowest print of the day was 12.75 and we got 12.11. I don't know exactly what the rules are but isn't that pretty much highway robbery? No one even knew that we were getting routed through ARCA which the firm supposedely does not do automatically.

As of now, the trades are not getting corrected. Some other groups got fills 20 to 50 points below on other stocks making our fills look like a gift.

Is there anything that can be done?
 
No they were market but no one knew it was ARCA. The 12.11 price was never printed on NYSE or the Consolidated.
 
if a fill is 9% away from the market, the trade generally gets broken without a problem. I'm an unforunate recipient of the ARCA fills this morning which, unfortunately, will probably stand. Highway robbery indeed.
 
Now that I knoew bout ARCA I never want to be filled on there. But it was done without anyone even knowing.
 
Quote from Mecro:

Hey everyone,

Ok today out of nowhere we got filled on ARCA when we sent an order before market open on VSH. The lowest print of the day was 12.75 and we got 12.11. I don't know exactly what the rules are but isn't that pretty much highway robbery? No one even knew that we were getting routed through ARCA which the firm supposedely does not do automatically.

As of now, the trades are not getting corrected. Some other groups got fills 20 to 50 points below on other stocks making our fills look like a gift.

Is there anything that can be done?
More...

Looks like your routing algorithm has a slight bug where it will hit wide out ECN quotes before NYSE quotes firm up right at the open. So i'm guessing it hit arca because that was the only quote available at that time. Might want to route only to nyse in the future if thats possible,
 
Quote from Htrader:



Looks like your routing algorithm has a slight bug where it will hit wide out ECN quotes before NYSE quotes firm up right at the open. So i'm guessing it hit arca because that was the only quote available at that time. Might want to route only to nyse in the future if thats possible,
More...

Supposedely it is only routed to NYSE but it was down and out of nowhere they routed to ARCA
 
if a fill is 9% away from the market, the trade generally gets broken without a problem. I'm an unforunate recipient of the ARCA fills this morning which, unfortunately, will probably stand. Highway robbery indeed.
 
Quote from Mecro:



Supposedely it is only routed to NYSE but it was down and out of nowhere they routed to ARCA
More...

Do they automatically route to NYSE or do you specify on your montage? If you specified NYSE....fight it!
 
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