• Mar
  • 26
  • 2007
  • 11:18 AM

Q&A: 'My broker still offers choice of a DOT order, and a Plus (Nx) order.'

By: Ray Pellecchia
File Under: NYSE, NYSE

A reader writes:

Hi Ray,

I was wondering if you could clarify an issue for me. My broker still offers me the choice of sending a normal DOT order, and a Plus (Nx) order. Are there any differences still on your side between the two or do they both just get handled the same within the hybrid system?

Thanks,

Ian

Hi Ian --

It makes no difference, as The Band used to sing when the great Rick Danko was still among us.

On NYSE, all market orders and marketable limit orders up to 1 million shares are automatically executed. You no longer need to indicate whether the order should be automatically executed (the old "NX" instruction for NYSE Direct+). Maybe your broker is handling the orders in the same way, but just hasn't updated the "customer interface" or order entry yet?

Hope that helps. Thanks for writing.

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