SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Sharck Soup
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Sharck who wrote (30053)7/5/2001 12:53:19 PM
From: Sharck   of 37746
 
A change is coming to Nasdaq regarding the two Nasdaq order routes, SOES and
SelectNet(SNET). On Monday July 9th a pilot program of 20 securities will
begin. An additional 80 securities will be added On July 16th. Following is
a description of the changes to SOES and SNET. These changes only apply to
trades with market makers. Trading with ECNs is unchanged.

SOES (will be called SuperSoes):
The current SOES system has a limit on the number of shares that may be
entered on a SOES order. With Supersoes the limit has been raised to
999,999. This is the only change to SOES.

SNET
Currently SNET is used in three cases: Broadcast, Preference to a market
maker, and preference to an ECN. ONLY SNET PREFERENCE TO A MARKET MAKER HAS
BEEN CHANGED.

Broadcast SNET - No change.

SNET preference to an ECN - No change. To trade with an ECN simply click on
the ECN symbol, exactly as you do now. Set the number of shares and click
BUY or SELL.

SNET preference to a market maker - THIS INVOLVES A SIGNIFICANT CHANGE. To
preference a market maker on SNET you will have to send the order for at
least 100 shares more than the market maker is displaying. For example if
market maker GSCO is on the Ask with 500 shares to sell, you must preference
GSCO for at least 600 shares. Now here's the catch: since the order is for
more shares than the market maker is displaying, the market maker DOES NOT
HAVE TO FILL THE ORDER! This is Nasdaq's way of making SNET preference to
market makers a Non Liability Order.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News