NYSE 2 minutes window for specialist rule

These so-called "rules" of the NYSE are laughable. Not getting a fill for two minutes??? I'd go nuts. If I didn't get my Nasdaq fill in....oh about 1/4 to 1/2 of a second I'd be very upset. No wonder I haven't traded a NYSE stock in years. Too many rules, which obviously, many folks don't even understand. Oh well, some here like it. Different streaks for different freaks. Give this freak instant fills at Nasdaq. Maybe someone else can offer some further clarity.
 
Quote from mnx:

What is happening in these circumstances, and is there anything I can do to avoid it?
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You can vote with your feet -- that's what I did. I'll trade there again when the NYSE joins the 21st century.
 
I spent some time searching the NYSE rulebook on this subject and could not find any specific reference to such a time limit. That doesn't mean it doesn't exist, though.

Why is everyone's search engine so lame? :(
 
Quote from ratboy88:

my vote for best answer.
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Ditto

The 2 min rule is not absolute, in times of overwhelming order flow or news they can do whatever. The idea makes sense since when tobacco or biotech news hit, thats serious action even for the more seasoned licensed thiefs but on average, NYSE abuses this rule when there is a large influx of daytrader orders that can be manipulated for free money.
 
Quote from Hydroblunt:

Ditto

The 2 min rule is not absolute, in times of overwhelming order flow or news they can do whatever. The idea makes sense since when tobacco or biotech news hit, thats serious action even for the more seasoned licensed thiefs but on average, NYSE abuses this rule when there is a large influx of daytrader orders that can be manipulated for free money.
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You.....You.....You mean the "specialists" at the NYSE would participate in unethical behavior???:eek:
 
Quote from BSAM:

These so-called "rules" of the NYSE are laughable. Not getting a fill for two minutes??? I'd go nuts. If I didn't get my Nasdaq fill in....oh about 1/4 to 1/2 of a second I'd be very upset. No wonder I haven't traded a NYSE stock in years. Too many rules, which obviously, many folks don't even understand. Oh well, some here like it. Different streaks for different freaks. Give this freak instant fills at Nasdaq. Maybe someone else can offer some further clarity.
More...

Except at the open when nasdaq is a total POS!!!!! Ever hit a sumo market buy right at 9:30? Sometimes it takes 5-10 seconds for a fill. I've called nasdaq about it, the claim they're working on it. In fact they've been working on it for a long time... still though 2 minutes is BRUTAL... esp. when you don't get filled and you have to wait 2 mins all over again...

Thank goodness for NX...

mnx
 
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