SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : DAYTRADING Fundamentals
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Eric P who wrote (8281)5/5/2000 3:51:00 PM
From: brec  Read Replies (1) of 18137
 
... Let's assume that you want to buy 1000 shares of Hot Internet Stock (Ticker: HOTT). A quick review of your level II display indicates the following offers:

NITE....68 1/2......1
ISLD....68 1/2......6
INCA....68 3/4......2
HRZG....69..........1

... you decide to send an marketable limit order to ISLD to buy 1000 shares of HOTT at a price of 68 1/2.

Assuming you place a 'normal' ISLD order, you will instantly get filled for 600 shares at 68 1/2 and your remaining 400 shares will be immediately canceled as it would lock the market with the current inside ask of NITE at 68 1/2.

All true. But the cancellation of the partial will occur even if NITE isn't there, i.e., even if the ISLD offer you're lifting is alone at the inside and hence if the balance were left alive as a bid it would not cross/lock the market. This seems to me a deficiency in Island's software. In fact, just yesterday I sent an email to Island making the same point.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News