NYSE Hybrid/ Open Book
- Thread starter 777
- Start date
Was it ever "easy"
Could you expand your thought for us? Thanks
mcelitetrader
ET Sponsor
I dont understand how you can "overcook" ...When you put out an order for 4k shares you get them immediately on hybrids. Its not possible to get more than the amount you ask for...Or did I misunderstand your comment.
The speed of execution is comparable to the speed of putting out an order with inet. As soon as you enter the order the shares are yours....no more waiting for 5 seconds while the specialist matches your orders. I think the system is great and lets me in on the action more often. The open book is somewhat more difficult to read now but the stocks are more fluid so I think the trading is actually easier.
The missed price improves on the NYSEbook are starting to make people use ECN's more often than routing through the open book. Or so I think I'm seeing. The arca level seems to be the last to clear when a level breaks so I'm trying to come up with methods of taking advantage of this....the rebates at the end of a day can be pretty solid.
So in response...I find the open book harder to read...it is more of a guide than the sole source of information. I do find that tape reading is becoming alot more useful now.....Watching size go through is a great sign and it is now real and not simply being absorbed by the specialists to clear out their imbalance throughout the day.
The speed of execution is comparable to the speed of putting out an order with inet. As soon as you enter the order the shares are yours....no more waiting for 5 seconds while the specialist matches your orders. I think the system is great and lets me in on the action more often. The open book is somewhat more difficult to read now but the stocks are more fluid so I think the trading is actually easier.
The missed price improves on the NYSEbook are starting to make people use ECN's more often than routing through the open book. Or so I think I'm seeing. The arca level seems to be the last to clear when a level breaks so I'm trying to come up with methods of taking advantage of this....the rebates at the end of a day can be pretty solid.
So in response...I find the open book harder to read...it is more of a guide than the sole source of information. I do find that tape reading is becoming alot more useful now.....Watching size go through is a great sign and it is now real and not simply being absorbed by the specialists to clear out their imbalance throughout the day.