Getting filled on the opening auction

J

jayr95241

Hey guys,

I know this is probably a bad question but I can not find the answer anywhere


Sometimes I see the opening price is different on different trading platforms...

Does everyone get filled at the exact same opening price for a OPG order? If I place a large order (relative to the volume) will I get get a bad fill compared to other traders placing orders on the open or would I just not get filled at all (if the volume is not there)


Thanks
 
jayr95241 said:
Does everyone get filled at the exact same opening price for a OPG order? If I place a large order (relative to the volume) will I get get a bad fill compared to other traders placing orders on the open or would I just not get filled at all (if the volume is not there)
More...

Everyone gets the same price. A big order will dramatically move the price and it will cause everyone on that side to get a "bad fill" if they submitted a marketable order.
 
Just to clarify the auction open price and the official open most data providers show are different. The open on your daily chart is the first trade at market open.

You can generally see the auction open if you have a tick chart by the large volume.

NYSE still use the specialist which can be minutes past the market open.
 
Metamega said:
Just to clarify the auction open price and the official open most data providers show are different. The open on your daily chart is the first trade at market open.

You can generally see the auction open if you have a tick chart by the large volume.

NYSE still use the specialist which can be minutes past the market open.
More...
New


Ok thanks! I am still a little bit confused

For example, If I look at the time and sales of AAPL this morning (October 22) on interactive brokers, there are trades at 09:30:00 for 219.85 and other trades are 09:30:00 219.48

IB list the opening price as 219.85....Why is is that the prices on the open 09:30:00 vary? Are trades at 09:30:00 different than the opening auction?
 
jayr95241 said:
New


Ok thanks! I am still a little bit confused

For example, If I look at the time and sales of AAPL this morning (October 22) on interactive brokers, there are trades at 09:30:00 for 219.85 and other trades are 09:30:00 219.48

IB list the opening price as 219.85....Why is is that the prices on the open 09:30:00 vary? Are trades at 09:30:00 different than the opening auction?
More...
A lot of different trades take place at 09:30:00 for an extremely liquid stock like AAPL. When you go through time and sales, the print 219.66 with volume 26.427.600 stand out - this is the auction price and is quoted in TWS as the opening price.
 
jayr95241 said:
IB list the opening price as 219.85....Why is is that the prices on the open 09:30:00 vary? Are trades at 09:30:00 different than the opening auction?
More...
If you hover over the price, a popup shows up with trade conditions. "O" is the open and "6" is the closing print. You can also go to settings and select "Exchange and condition" to show it for all trades.
 
jayr95241 said:
New


Ok thanks! I am still a little bit confused

For example, If I look at the time and sales of AAPL this morning (October 22) on interactive brokers, there are trades at 09:30:00 for 219.85 and other trades are 09:30:00 219.48

IB list the opening price as 219.85....Why is is that the prices on the open 09:30:00 vary? Are trades at 09:30:00 different than the opening auction?
More...
%%
Thats still why some prefer NYSE rather than Nasdaqqq; but good tech trend tends to be worth it.Its more clear on Nasdaqq by 8;45-50- CST.......
 
The open is the first trade which could be at any exchange, as an example it could be on BATS exchange.

The opening auction happens on the listed exchange.


https://www.nasdaqtrader.com/conten...adingProducts/crosses/openclosequickguide.pdf


https://www.nasdaqtrader.com/content/ProductsServices/Trading/Crosses/openclose_faqs.pdf

https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/NYSE_Arca_Auctions_Brochure.pdf

Appears NASDAQ and NYSE charge for imbalance information? Never really looked at it myself.

Here’s an example from TSX
https://api.tmxmoney.com/mocimbalance/en/TSX/moc.html
 
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