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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: seismic_guru who wrote (37840)	6/1/2000 7:27:00 AM
From: Sapper	Read Replies (2) \| Respond to of 62348

Actually I have a question, I had always assumed that the TSE gave priority on a first come first serve basis. I'm sure the Chief will correct me if I'm wrong but I'll take a stab at it SG!.....Only the CDNX offers FIFO (the First order In is the First order Out or filled)....the TSE system attempts to fill all orders at the same time and if it can't it will allocate shares in proportion to the number of shares for each order.....for example, if you had an order in to sell 1000 @ $20 and I had an order in to sell 2000 shs @ 20 and then the Chief put a buy order in for 2100 shs @ $20, then the TSE system would likely allocate 1400 of my shares and 700 of yours to fill the Chief's order....there is no time priority ie., yours could have been sitting there for hours and I could have just got mine in before the Chief's order hit the floor.... There are also a number of partial fill rules based on board/odd lots....for example, board lots are based on the previous day's close price...very weird!....for example, they will do a partial fill of 100 shs at 90 cents if the price had closed above $1 the previous day!....that is really an odd lot for a stock trading below $1....surely in this day and age of computers, they could program their computers to better handle this type of situation....I've complained to the TSE but they never responded.... Hope this helps clarify things a bit!!...personally I like the CDNX's FIFO system much better!!! Sapper