In futures trading, one execution order gets two dif prices?

N

nakachalet

Just how is it possible or how likely is it that when
a seemingly dumb trader clicked one buy/sell order,
one click, to two different brokerage houses;

the filled time stamps were different and

subsequently the filled prices were different too....?

is it possible that what many traders thought otherwise
was in fact a truism in this industry that....

brokerage houses even in the U.S. of A, are not
at all equally responsive....?

Not accusing any entity nor any malice implied here, K?

Just asking those who know better,
a very realistic and serious concern.

Any response from those who know,
or know better,

or those who like to know also,
logical reasons behind all these
seemingly difficult to comprehend
situations?

Thx much for reading this, and would
like to thank you even more if you would
share your understanding on this topic,
with other traders in the dark also.

Much obliged everyone. Profitable trading everyone.
 
Last edited:
NQ

GC

CL

trader claimed it was around 10ish,
2017-07-19
morning session,

did not seem to be particularly hectic either,
according to my own charts. Oh well....
 
nakachalet said:
NQ

GC

CL

trader claimed it was around 10ish,
2017-07-19
morning session,

did not seem to be particularly hectic either,
according to my own charts. Oh well....
More...
How exactly did he make one click to send the order to two different brokerages? What route did his order take on the internet to get to each broker?
I'm guessing he had two different screens open, one on each broker, and clicked on each in succession. That isn't "the same time" in the markets where microseconds count; it's not possible to do that in probably less than half a second. The two orders then took two completely different routes over the internet to the brokers. Have him do a traceroute to each, he'll see the difference. Then they get to the exchange, if his order total was greater than the resting bid or ask then by definition one order will use up all of the lowest (highest) price and the second will take from the second bucket.
After all that, I'd be surprised if, when repeated a number of times, that experiment always yielded the same price and time for both orders. I'd be surprised if he got any results other than those he saw. None of which requires nefarious brokers.
 
The issue is not brokerage per se, rather latency. You can have a difference if 10 milliseconds and have an entirely different fill. latency is not only a factor of your data feed but also your connectivity and the "burdens" it may carry.
 
@Javier
@Sig
@MattZ

The attachment will explain much better than my
trying to explain, LOL.

The only one click order going in, resulting in two or more orders
going out to diff brokers, all at once (supposedly, so to speak),
is entirely possible if traders are willing to pay a price for the service.

But as you can see, per attachment, the results attained is anything but
per service providers' assurance and guarantee....

Here is the actual pix, I was informed, with some identifiable info blocked out
to protect those named entities....

Not too many retail traders have to date advanced to this point of trading as yet,
but that is for the better as I was assured by several brokers not involved in this
transaction; problems are many, but realistic solutions are far and few in between.

And every party would have nothing to do with the responsible side of the
equation.... LOL

Remember, for better or for worse, Baron wants everyone to know that
you saw it FIRST here at ET.... LOL

Pls do not drag me into any legal entanglement K?

I just wish my trading friends here to know, there are more advanced
trading services available to those who are willing, able and ready to....
do whatever to have a few precious seconds ahead of our own
unaware trading friends and buddies perhaps sitting right next to us....

Oh well.... enjoy the pix that is utterly significant,
but in terms of legality involved, it is declared that it has no basis,
no value, no trading meaning nor value of any sort or
any kind whatever, and all of you are viewing at your own risk, K?

HongKong Brokers 4 ET posting one click order two dif results WHY 2017 07 19w.png
 
Any one has any viable better suggestion or solution
to pass along to those wrenching traders scratching
their greyhair trying to figure out just what to
do next peacefully and amendably....
without causing too much uproar among the
existing powers? Thx everyone for giving your time.
Good and profitable trading everyone.
 
From my limited knowledge. Im not sure what exactly are you refering to, not sure if you are talking about selling/buying speed, or child orders (thats the only system I know to convert one into two). If you refering to such kind of allocation Im not keen on that.

Reason for different prices: If bots detect a burst of child orders they will change their price most probably.

About your last screenshot , I wonder more or less but doesnt help me much to understand from my perspective. If you overpass bots, then I cant help you I have no experimented at that level.
 
Others have chimed in with respect to latency and the fact that the path through different brokerages are not the same. Here is a distilled down example of why different fill prices might occur.

1. Platform sends out two orders to buy 1 lot through two different brokerages
2. There is 1 lot available on the Ask at price X
3. Order #1 hits the Ask, is filled and removes that liquidity
3. The Ask is now X + 1 Tick
4. Order #2 is now filled at the new Ask price
 
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