NYSE 2 minutes window for specialist rule
- Thread starter alert
- Start date
Market orders should be filled in 2 minutes or less.
Limits are another story altogether, but if your market doesnt fill in 2 minutes, you should call it in. I have done this before and have gotten price improvement. I also work at a firm where I can call our ROP and he takes care of it, not too sure what you'd do if you trade from your home.
Market and marketable limit should be the same in this regard.
There are unusual circumstances, like when there is a severe imbalance because of news, where you may not see an NYSE print for minutes, and the rule does not apply. If he's printing, though, and there's nothing much going on, your order got lost and you should call your broker.
There are unusual circumstances, like when there is a severe imbalance because of news, where you may not see an NYSE print for minutes, and the rule does not apply. If he's printing, though, and there's nothing much going on, your order got lost and you should call your broker.
sometimes when I'm trading illiquid stocks the specialist won't print at all for over 5 minutes.... My limit orders are crossing the NBBO and he won't do anything.
If there's shares available he should match them and if there isn't the quotes should update. It seems I'm the only one who has live orders...
What is happening in these circumstances, and is there anything I can do to avoid it?
It's probably the nost annoying thing about the NYSE that I run into on a regular basis...
mnx
If there's shares available he should match them and if there isn't the quotes should update. It seems I'm the only one who has live orders...
What is happening in these circumstances, and is there anything I can do to avoid it?
It's probably the nost annoying thing about the NYSE that I run into on a regular basis...
mnx
OK, this is where some of the confusion comes in to play. In 2 minutes they should either "fill" or "quote" your limit order. If they take longer, it's generally because they are going to give you a better price.
Goldman will go to the Post to speak to the Specialist if there is a minute delay (they'll actually call if there is a 1 minute display).
Fill or reflect within 2 minutes is how I've always understood it.
Don
Goldman will go to the Post to speak to the Specialist if there is a minute delay (they'll actually call if there is a 1 minute display).
Fill or reflect within 2 minutes is how I've always understood it.
Don
the two minute rule is the house edge.