Yep. Pretty simple explanation. Both are listed stocks. Reporting "supposedly" stops at 4 PM EST. However, if you leave your quotes up after the close you will see that it never does close at four. So after the close the quotes (particularly on higher volume NYSE issues) continues to change. Last night the market "closed" with my quotes (two different vendors) showing me with a $1687.50 profit on my BSX long position. Fifteen minutes later Q-Charts had me at a $750 profit. BUT... so did my other quote platform. It seems that "after the close" there was a trade (probably by someone who had to get out of a position and got raped doing so) that went off 9/16 away from the actual closing print. I'm telling you, the problem is not Q-charts. Once NYSE is using the ECN system, after hours quotes will be more accurate. Just like on NASDAQ right now.
Let me explain something else. There are only about three companies out there that actually provide quotes themselves. PC Quote, S&P Comstock, and Bridge. These all sell their data feeds to the various brokers and quote providers. Interquote (my other provider and the company that I work on the development team for) has changed quote suppliers three times in the last two and a half years. When there is an "accuracy" problem, it is never the quote reseller. They just have the computer that feeds you, but they don't make up the quotes. Many times the problems are bad data input (bad tick way away from the real market), many times they are issues with the first level supplier. These are generally issues that your vendor is as frustated with as you are (probably more so) because when you see the quote wrong on AOL and call in, you can be assured that you were not the only one trading AOL who noticed it. So these guys are fielding 1000's of calls from traders all over the country who are ready to rip their heads off when they have already called in the problem to Bridge or whoever) 10 minutes ago and it is still not fixed. Meanwhile Bridge is only getting 3 or 4 calls from brokers or quote providers that care enough to bother.
I think if people stood back and looked at the big picture, there would be a little less frustration. The problem with human nature is that once I am ticked at someone, everything they do just reinforces my opinion of them further. I interpret everything through that mind set. I'm afraid that this discrepancy is not their fault.
Matt |
