MOO order at "BZ-Dot" route

S

shelupinin

Hi !

2 days ago I set MOO order using "BZ-Dot" route to buy some shares of XLE (oil ETF). The order was executed more than 2 minutes after market open. Why this happens? XLE is a huge share, more than 23 mil shares daily, so order must be executed immediately after market open. I'm using Laser platform from Genesis. Does somebody know why MOO order executed so lately?
thanks
Alex
 
Quote from lescor:
Did you check the tape to see exactly what time the stock opened at? Not every listed stock opens right at 9:30
More...
today I placed another MOO for XLE, it was executed at 9:33 and several seconds.... I'm shure XLE started to trade at 9:30 because I was watching charts at market open, there is some activity at 9:30... by the way, MOC order for XLE was almost OK , it was executed about 15 sec. after market close....
Does somebody knows how MOO and MOC orders executed? Where they are stored? Which time the should be executed? Which way?

thanks in advance
Alex
 
Either your broker is simulating a MOO order and not sending it to the specialist to be handled, or you are seeing ecn and third market trading activity between 9:30 and when the specialist opens the stock on the nyse, or in the case of XLE, AMEX, where it's listed. Do you know if your order was routed to amex or nyse?

BTW, the stock market opens at 9:30, but listed stocks open when the specialist says so, many stocks open several minutes after 9:30. Remember he may be dealing with interest from the crowd around his post and is busy matching orders. He won't open the stock until he's got it all sorted out.
 
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