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Strategies & Market Trends : DAYTRADING Fundamentals

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To: LPS5 who wrote (4684)10/4/1999 10:36:00 PM
From: E. Davies  Read Replies (2) of 18137
 
thats why they have "reserve" features on certain ECN's, and why EWN (formerly NWII) terminals have "auto-refresh" and "auto-increment" features.

Could you describe these features in another level of detail?

What is a "reserve" feature? Do the MM's trade on the ECN's?

Most of all I'm curious what the "auto-increment" feature is and how it is used. What causes the "increment"? Is it based on a # of shares executed at a certain price? (obviously it would be programmable by the MM trader).

Or does "auto-increment" mean moving the bid/ask by a fixed increment when the MM trader makes the choice?

Thanks for the info...
Eric
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