The delay depends on any number of factors. On nasdaq,
if you are dealing on a marketmaker, they have up to 15
seconds to decide to fill you, and depending on the
way it is filled, an additional delay may occur. I've
had delays of 45s to 1 min in last few minutes of the
day on naz issues, though that is really more of an
exception. In general, you should have a fill in 1 sec to
about 15. On NYSE, again, it depends in part on the
routing, if you are matched on DOT, or if AMRO handles
your order seperately. It could take 2 secs, it could
take a minute, and of course volume a big factor.
I am surprised your fills with schwab are so poor. I
kinda think it is more a problem with reporting back to
you then the actual fill, ie their internal systems are
slow to notify you, but the execution itself probably is
much quicker.
I also trade with fidelity (never only have 1 acct) and
they can also vary from secs ot as much as a minute. Keep
this in mind too, i find with fidelity if I leave a
limit order it will take about 15-20 secs to make it to
the market maker or ecn. |
