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Non-Tech : MB TRADING
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To: Eric P who wrote (4934)6/18/1999 12:04:00 PM
From: shag007   of 7382
 
Eric,

As always, well said. This is exactly as I understood it to be. SelectNet can be used to preference someone at the inside bid/ask. But SelectNet as an "ECN" when you broadcast an order and it becomes part of that "book" can only be hit by a MM.

With SOES you are trying to hit a MM at the inside, which hopefully has an active order (not on a 17 sec. freeze waiting to update his quote) that is within the size your looking for and within the tier size.
Of course, when your order goes into queue b/c there was no active MM order you become part of a timed "book" for the MM to put an order at the inside and get hit by.

FD

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