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That's pretty hard to generalize because it depends on how fast the stock is
moving at the time. But generally it's quite a bit more than on NASDAQ because
the spreads are usually wider and the NYSE order system is slower. I'm not
sure any retail brokers can get very "close" to the system, and E-Trade is
about as fast as any, taking maybe 30 seconds if you dial in direct to E-
Trade. NYSE specialists love to put out unrealistic offers from time to time,
sometimes I think just to tag unsuspecting traders using market orders. Like
you'll see a stock bid 3/8 and trades going at 3/8 and 7/16, and then the
offer goes to 3/4 for no reason at all. After a minute or two of no action
it'll come back down to 1/2 or so.
In a message dated 98-10-09 12:04:31 EDT, jrt@xxxxxxxxxx writes:
> Can anyone tell me what kind of slippage is to be assumed when
> trading Dow Jones stocks ?
>
> I have seen that some of the daytraders software is now moving to the
> internet. (www.tcast.com) I suppose that these system are as close as
> one can get into the market place unless one is trading very large
> size.
>
> Can anyone tell me what the typical slippage is for trading the DJ30
> stocks with these kind of systems ? Slippage being the price
> difference between last price when the execution key for an at
> market order was hit and the actual execution price.
>
> And does anyone have any actual experience with Internet execution
> software ? I am not talking about companies like e-trade but rather
> companies which offer you remotely multiple execution networks.
>
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