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Strategies & Market Trends : DAYTRADING Fundamentals

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To: LPS5 who wrote (6319)	1/6/2000 6:02:00 PM
From: cloudless	Read Replies (1) of 18137

I don't know anything about Preferred Trade; are you sure that "Auto-Routing" is, in fact, a direct access system? I think so per their instruction manual. There might be faster ways to send it by bypassing the market maker and going directly to ISLD? At the center of the Preferred Trade system is an algorithm that automatically selects the routing for an order depending on if it is a listed stock; if it is an OTC stock priced in various ways; or if it is an option. All listed stock orders: routed via DOT Market Standard Auto Trade Routing for OTC Stocks: routed to a specific market maker for execution via SelectNet for approximately 12 seconds. If not executed, it is cancelled and resubmitted to another market maker. Repeats 5 times to 5 market makers. Then sent to Instinet and finally to trading desk at Preferred Capital. Limit Standard Auto Trade Routing for OTC Stocks: If hitting the bid or lifting the offer same as above. If between or outside spread routed to ISLD for display. Cloudless

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