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Strategies & Market Trends : From the Trading Desk
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To: steve goldman who wrote (4553)6/4/1999 5:40:00 PM
From: Esteban  Read Replies (1) of 4969
 
Steve,

I've been experimenting with market on close orders, and am wondering how these orders are seen by the NYSE specialist, whose closing price determines the price at which MOC orders are filled on all the regional exchanges. I've noticed that my orders are filled on regional exchanges shortly after the closing price is printed on the NYSE. If my order goes to the Chicago exchange as a market on close order, does the NYSE specialist "see" this order and take it into account when setting the price of his closing trade? As a market order it doesn't show on the level II regional screen, so I'm guessing the NYSE specialist is unaware of the MOC order on the Chicago exchange. Do you know or can you speculate on this?

Thanks,
Esteban
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