Is it possible for a stock to start trading after 09:30 in NYSE exchange?

mickael28

Junior member
31 0
Hi,

I had a pending order on NYSE:NOW to be triggered when the market opened on Thursday 20th.June.2019. My broker is Interactive Brokers (IB).

I started checking the price in TradingView, FreeStockCharts and Google Finance at 09:30 that day and even though the order should have been executed, nothing got triggered in my account with IB until 09:31:47

I contacted IB support and they mentioned that this was because the market had not been opened for NYSE:NOW until that exact second, 09:31:47. So my order was executed straight away when the market opened for that stock I was told, and the prices I was checking in other data providers (or in their times and sales logs) were pre-market prices (even though it was past 09:30 already).

My doubt is that I had never encountered this behaviour in a few years of trading. Is it possible that even though NYSE opens at 09:30 (and some stocks started trading at that time when I asked IB), other stocks can start trading a few minutes after that time?

Thanks
 
Last edited by a moderator:

J_C_Anderson

Active member
128 22
Hi,

Situation like this could take place, its normal. Exchange specialist has to match all MOO (Market - on - Open) orders to define the opening price. As usual, specialist suspends the acceptance of MOO orders in few minutes before market open,deals with imbalance and changes referrence price to clear price (the actual price the stock will start trading). But sometimes for unknown reason he fails to do this before the open, so it takes a few minutes more (you can even rewoke your MOO orders after the market open if you think that the price would be unfavorable for you).
If you are interested in all this, check the NYSE official website, they have detailed guides on market opening.
 
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mickael28

Junior member
31 0
Hi,

Situation like this could take place, its normal. Exchange specialist has to match all MOO (Market - on - Open) orders to define the opening price. As usual, specialist suspends the acceptance of MOO orders in few minutes before market open,deals with imbalance and changes referrence price to clear price (the actual price the stock will start trading). But sometimes for unknown reason he fails to do this before the open, so it takes a few minutes more (you can even rewoke your MOO orders after the market open if you think that the price would be unfavorable for you).
If you are interested in all this, check the NYSE official website, they have detailed guides on market opening.
I see, I had never noticed it before and as I saw prices printing from 09:30 to 09:31:47 it just seemed as if the stock was trading as normal, but the broker mentioned that those might be premarket prices, as the stock didn't started trading that day until almost 2 minutes later.

I'll have a thought to see if I need to change anything from my end knowing this now.

Many thanks.
 

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