Setting the Open

[ljyoung]

Is anyone aware of a software package that either by default or by user choice (this would be most preferable) permits the setting of the Open price for a tic chart (for any number of tics/bar) or a "time" chart (for any length of time) equal to the Official Opening Price (OOP) for the equity of one's choosing? FYI for equities having the NASDAQ as their "primary exchange", the OOP is the NOOP, while for those having the NYSE or Amex as their exchange, the OOP is the "First Consolidated Trade (FCT)".

The FCT is, as best I have been able to determine, the first tic of the day for NYSE/Amex listed equities. On the other hand the NOOP is almost always preceded by 1-20 "funny, little tics from funny, little guys" which are not recognized by the NASDAQ as being OOP's.

It's razzer important what that first Open is but I have yet to find any charting software that let's one set this. Typically the software either "continues" from the premarket (even when you specify RTH-only for tics) or "picks" the first tic (trade) after 9:30:00.000, which very, very rarely is the NOOP on the NASDAQ or "picks" something after the start of RTH or let's a FCT overide a NOOP for a NASDAQ-listed stock.

This last situation is clearly a professional/exchange game which should have been addressed by Reg NMS but, surprise, surprise, wasn't.

Any help, anyone can give would be appreciated.

TIA

lj

 

[ljyoung]

This is a "tidy-up" post (I received a French maid's outfit for Christmas and am dying to try it out) to show some data I collected a while ago with respect to variability in the opening price for an equity (GOOG), quoted by various 'quote providers'. The table is self-explanatory but if anyone has any questions, fire away.

lj