{"slug":"why-a-limit-order-didnt-fill","qid":"venue_split","label":"Where one session of AAPL prints actually happened, by venue","post_title":"Why a Limit Order Didn't Fill: 5 Causes","post_url":"/blog/why-a-limit-order-didnt-fill#q-venue_split","columns":["venue","shares_millions","pct_of_shares","prints"],"rows":[{"venue":"FINRA Alternative Display Facility","shares_millions":11.48,"pct_of_shares":47.6,"prints":381723},{"venue":"Nasdaq","shares_millions":5.7,"pct_of_shares":23.6,"prints":112627},{"venue":"NYSE Arca, Inc.","shares_millions":1.93,"pct_of_shares":8,"prints":58899},{"venue":"Cboe BZX","shares_millions":1.29,"pct_of_shares":5.4,"prints":34106},{"venue":"Investors Exchange","shares_millions":0.93,"pct_of_shares":3.9,"prints":23913},{"venue":"New York Stock Exchange","shares_millions":0.8,"pct_of_shares":3.3,"prints":21812},{"venue":"Cboe EDGX","shares_millions":0.67,"pct_of_shares":2.8,"prints":14560},{"venue":"Members Exchange","shares_millions":0.41,"pct_of_shares":1.7,"prints":10334},{"venue":"NYSE Texas, Inc.","shares_millions":0.3,"pct_of_shares":1.3,"prints":1310},{"venue":"Cboe BYX","shares_millions":0.12,"pct_of_shares":0.5,"prints":3199},{"venue":"Cboe EDGA","shares_millions":0.12,"pct_of_shares":0.5,"prints":4146},{"venue":"Nasdaq Texas, Inc.","shares_millions":0.11,"pct_of_shares":0.4,"prints":3516},{"venue":"MIAX Pearl","shares_millions":0.07,"pct_of_shares":0.3,"prints":1645},{"venue":"Texas Stock Exchange LLC","shares_millions":0.06,"pct_of_shares":0.3,"prints":1720},{"venue":"Nasdaq Philadelphia Exchange LLC","shares_millions":0.05,"pct_of_shares":0.2,"prints":1272}],"shape":"ranking","sql":"SELECT\n    venue,\n    round(shares / 1e6, 2)                        AS shares_millions,\n    round(100 * shares / sum(shares) OVER (), 1)  AS pct_of_shares,\n    prints\nFROM\n(\n    SELECT\n        any(if(empty(x.name), concat('Venue ', toString(t.exchange)), x.name)) AS venue,\n        sum(t.size)                                                           AS shares,\n        count()                                                               AS prints\n    FROM global_markets.stocks_trades AS t\n    LEFT JOIN global_markets.stocks_exchanges AS x ON x.id = t.exchange\n    WHERE t.ticker = 'AAPL'\n      AND t.sip_timestamp >= '2026-09-15 00:00:00'\n      AND t.sip_timestamp <  '2026-09-16 00:00:00'\n      AND (toHour(toTimeZone(t.sip_timestamp, 'America/New_York')) * 60\n           + toMinute(toTimeZone(t.sip_timestamp, 'America/New_York'))) >= 570\n      AND (toHour(toTimeZone(t.sip_timestamp, 'America/New_York')) * 60\n           + toMinute(toTimeZone(t.sip_timestamp, 'America/New_York'))) < 960\n    GROUP BY t.exchange\n)\nORDER BY shares_millions DESC\nLIMIT 15","computed_at":"2026-10-05T14:51:37.355274+00:00","elapsed":0.00582582}