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If you had your market order in, and trading wasn't halted or it
wasn't 3:59:55pm, you deserve a fill. End of statement. Your
broker's playing games. Get another one
Date sent: Tue, 04 Apr 2000 18:21:47 -0400
From: Dirk de Vos <djdevos@xxxxxxxxxxxx>
To: omega-list@xxxxxxxxxx
Subject: NYSE Rules - Limit vs. Market Orders
> Is it correct NYSE is "not obligated to execute a market order"? My
> broker
> is telling me the reason they didn't cover a short of mine at market is
> because of the above. Forced to cancel market order, chase with limit to
> cover.
>
> Time/sales data show many transactions during the time the broker
> diddled with the market order on the floor (4-5+ mins). Wild day, but GE
> was trading in orderly fashion (well after peak volume selloff).
>
> No big deal....just want to ensure broker is factually correct on NYSE
> procedures, and not engaging in another form of "covering" [up]. Any
> suggestions from those who know....?
>
"Buy Low, Sell High"
(If this statment is used for financial gain, I am entitled to 10% of all profits. ;) )
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