|
PureBytes Links
Trading Reference Links
|
The reason is that if they put the order in the specialist's book, the
specialist does not want to have to change the limit on the order. But,
I suspect that the order doesn't go to the specialist and the floor
broker doesn't want to be on the hook if it hits the stope price and
continues to trade at that price + an 1/8 or 1/4 and you aren't filled
because he couldn't get to the post in time.
I am sure that to offer the low commissions, the floor broker must have
lots of orders in his pocket and cannot be everyplace at once and unlike
the futures markets, you are entitled to prints.
|