TWS Market orders fills at the open.

S

saico

Hi,

today I had to send some odd lot market orders for NYSE stocks shortly before the open. I have my TWS only to send and execute orders between 9.30am and 4.00pm est. Default order routing is SMART. I was wondering why my orders didnt execute immediately right after the open, since I did not route to NYSE exclusively where I had to wait for the specialist to open the stock. So it took 3 minutes till I got my fills. Any ideas?

Thanks in advance!

saico
 
SMART routing will route to primary (NYSE in this case). If you want to route an on-open order in an NYSE stock to Nasdaq (rarely a good idea), you have to specify exchange.
 
Quote from evo34:

SMART routing will route to primary (NYSE in this case). If you want to route an on-open order in an NYSE stock to Nasdaq (rarely a good idea), you have to specify exchange.
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Thanks Evo34,

what about Nasdaq stocks? In my case 100% of my OPG's for Nasdaq stocks get filled thru Island. Is this the primary exchange here (ECN)?
 
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