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Strategies & Market Trends : DAYTRADING Fundamentals

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To: SpongeBrain who wrote (2877)	8/15/1999 4:09:00 PM
From: Eric P	Read Replies (1) of 18137

Can someone explain to me what "Post, No Preference" for ARCA orders means? This sounds like a reference to the ARCA order routing system. The ARCA order routing system will seek to route your marketable limit order (using SNET) to each of the available market makers at the inside ask (for a buy order) in order to get a fill. If your order is refused by the these market makers, it will ultimately be posted as an "ARCA" order on the ARCA limit order book. I would presume that the "Post, No Preference" option would be a request to bypass preferencing market makers for a fill and to simply post the order on ARCA now! Just my best guess, I'm sure an experienced ARCA user can confirm or correct this assertion... Good luck, -Eric

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