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Technology Stocks : Lance B's : Its A Beautiful Thing
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To: LANCE B who wrote (2730)1/11/2000 12:12:00 PM
From: JD  Read Replies (2) of 4792
 
Whoa - TRAC just let me cancel a marketable order!! (course the order
should have been executed - a sell @ bid with at least 2 MM's on bid).

Makes you wonder when NITE is on the bid, and you route your sell order to NITE, and still no execution!!!

TRAC says that on BB's the MM's do not have to fill, and they are right - but in the real world, NITE, HRZG and the others will fill the orders that come from clients whose business they value and want to keep! If EGRP starts getting complaints from their clients about lack of execution they will threaten the offending MM with pulling their business from them.

For some reason, the MM's (NITE, HRZG...) do not treat TRAC clients with the same "respect" (execution) as they do AMTD, EGRP or Shwab...

- Maybe it will improve as TRAC gets bigger (more respect?).

- Maybe the MM's do not like the direct software-entered, computer routed orders that arrive on their desk with no delay (phone entered gives the MM's more time - and time is $$$).

I am not going to bail on TRAC yet, as I like the speed of order entry, and because I think this trading system could be the first small step toward having an "ECN" system for bulletin board issues (and I know that is the last thing MM's want to see - it would put them out of work!!).

Do NITE and HRZG see TRAC as a threat? Would they like to see TRAC's computer order entry system fail?

TRACISDRIVINGMECRAZYJERRY
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