NYSE Order question

M

mktman

Question concerning locking or crossing NYSE market with order.

If enter an NYSE order where

a. my bid = offer

or

b. my offer = bid

Then locking and crossing market will occur.
Right?

Only way to avoid this is hit an ECN with your order or placing
bid < offer or offer > bid?
Cant hit NYSE with order?

Thx for help.

mktman
 
The NYSE is not an electronic exchange so your order will not lock or cross the current market.

The specialist will take your order and either execute it or use it to update the quote (if the stock trades ahead of you or the bid/offer cancels).
 
If you use the NYSE ECN (NX) then you will be filled. If it is a simple limit order, then you are given "time priority" and put into the "queue" and will either filled or "displayed" in proper order.
 
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