Do specialists see stop orders?

By: Ray Pellecchia: File Under: NYSE, NYSE

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A daytrader writes:

Do specialists have ability to see stop orders now?
-- Brandon

Brandon -- No, they no longer have that capability. They see them stop orders only as market orders, after the orders have been elected.

Thanks for writing, Brandon. And thanks to my Hybrid-Building Colleague for this answer.

Happy Monday, folks! On the trivia front:

Today in NYSE History
22 Jan 1938 A special committee recommended a reorganization of the NYSE top management structure: a Board of Governors and a salaried president supported by an administrative staff.

I guess I'm a functional decendent of that admoinistrative staff, so to celebrate, I'm heading off today on a little business trip. Will be back Friday, or Monday at the latest. Postings in this space might be a little sparse until then, although my colleague Margarida Correia might wade in a bit. If she can juggle this with the other umpteen items I just dropped on her desk.

Tags: New York Stock Exchange, Hybrid Market, NYSE, NYSE Group, NYX, trading, stock market

Comments

I may be wrong, but I believe it is only the specialist's algorithm that can't see the stop orders. The *human specialist *can see the stop orders. Can someone please clarify? Thanks.

by Kevin W. on February 4, 2007 10:44 AM

Kevin --

Neither specialists nor their systems see the stop orders.
Upon election, stop orders are converted to market orders and then automatically executed.

Hope that answers it. Thanks for writing, and thanks to my Hybrid-Building Colleague for clarifying this.

by Ray Pellecchia on February 5, 2007 4:59 PM

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Do specialists see stop orders?

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