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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Teresa Lo who wrote (17683)3/5/1999 8:21:00 AM
From: SE  Read Replies (1) of 44573
 
When CUBS goes down, I phone any orders I have in. Remember, CUBS only affects the S&P orders, not mini or others. IF CUBS is down, I do not do it via Leoweb at that point. Why I am not sure, because Leoweb still works, but it is simply a different method of getting the order to the traders. I guess at that point with SPOOs I prefer to know I am talking to someone that must report back to me. It is a person to person deal then and personal contact with any broker or trader I think enhances the chances of good fills and leads to less problems. Some of the electronic places I believe don't have backup for phone orders or if they do, they are severly understaffed and you might not get through or be placed on hold. ZAP maintains a good phone order system as well and it is no problem being answered on the first or second ring from my experience. I have only been placed on hold when my call did not relate to an order. With Leoweb, my understanding is the orders are printed and then delivered to the pit just like any other order. Of course fill times will be a bit slower as it is just like a normal S&P order, but again, I have not had any troubles with Leoweb or ZAP.

With the bonds, trading over Leoweb is the same type of process. The order is printed, relayed to the bond trader who makes the trade, relayed back and the fill is sent back via LeoWeb. The fills there take some time (as compared to the mini), but I have not had a problem with my one bond trade. (HA - There is a track record!) Well, so far so good.....:)
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