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Non-Tech : MB TRADING

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To: Dan Spangenberg who wrote (4852)	6/4/1999 3:37:00 PM
From: -	of 7382

Dan, They tend to use wording like that when an ECN goes down. Once, when I was trading out at Broadway, we had a similar message about ISLD and everyone thought the whole gig might be 'over' for a while:) I think what they mean was, in nerdy "I.T./IBM mainframer" terminology (the entire NASDAQ system is run off of a bunch of mainframes up in Conneticut) is that ARCA ECN was being temporarily shunted out of the NASDAQ order flow, while it was down (it's back up now). As Scanshift would be quick to point out, ARCA is bleeding-edge technology, and their servers are prone to periodic instabilities. However, I've found those periods are no reason to panic - their are plenty of other places to route your orders, when the periodically stumble around. Which does happen! -Steve

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