Market-on-open buy order on NYSE not filled

[Maverick2608]

When a buy market-on-open order on NYSE is not filled, which criteria determine which market-on-open orders get filled?

 

[d08]

As long as there is a seller. I've never encountered anything like that. Did you make sure the order was active on the exchange beforehand? I've seen order being held by the broker, obviously not executing.

 

[Robert Morse]

It is my understanding that a MOO order sent before the 9:28 am cut off should get filled.

 

[Maverick2608]

As long as there is a seller. I've never encountered anything like that. Did you make sure the order was active on the exchange beforehand? I've seen order being held by the broker, obviously not executing.

I sent the order well before the 9:28 cut off. It was a liquid stock, however for some reason the auction/cross volume was not large. My order was larger than the auction/cross volume. I did not get a partial fill. I have not experienced it before.

I believe I read somewhere that the NYSE opening process has changed due to Covid-19.

 

[Maverick2608]

It is my understanding that a MOO order sent before the 9:28 am cut off should get filled.

That was also my understanding until today. Maybe it is because of changes in the opening auction/cross process on NYSE due to Covid-19?

 

[Robert Morse]

You are correct. I just called the NYSE trade desk and ask for a copy of the updated rule.

I believe I read somewhere that the NYSE opening process has changed due to the Covid-19 pandemic.

 

[Robert Morse]

From NYSE- https://www.nyse.com/publicdocs/nyse/NYSE_Floor_Closure_FAQ_20200320.pdf
https://nyseguide.srorules.com/rule...CC-BAC2-43EB20902159}--WKUS_TAL_19401#teid-41

 

[d08]

Looks like a complete mess and completely unnecessary when NASDAQ can open everything electronically with relative simplicity.

 

[cruisecontrol]

Anecdotally, I have traded hundreds of thousands of MOO orders, seen, maybe.. a few dozen that did not fill, but I have never once seen a partial fill. The implication is that you might be able to achieve a partial by breaking up your own order into multiple smaller MOOs, since it seems the matching engine won't split them for you.