How can a trader tell whether an order was actually sent as an ISO order?
There are columns in the ANVIL orders window that distinguish whether it was sent as an ISO or not. Q) I’m trying to hit an order on NSDQ for a listed stock that used to trade almost all of the time on the NYSE. I’m being prevented from hitting that order, and I’m not sure why. Can you provide any possible insights? A) Following the implementation of Reg NMS in March 2007, market centers were required to adhere to the trade through rule. This increased the amount of routing from one market center to another. Specifically, NASDAQ’s’ share of listed stock volume increased. However, in order to execute an order on NSDQ, a trader must have a NASDAQ – specific trading license, such as the Series 55. Thus, if a trader does not have a Series 55 license, the front – end trading software will block the order. Q) Passive orders cancel after partial executions. For example, if you put in a passive order for 500 shares and get filled for 100 shares, the order will then cancel. I thought that passi
