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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Dustin who wrote (7563)	3/23/2000 5:02:00 PM
From: LPS5	Read Replies (1) of 18137

Dont forget that the handling of orders in an open outcry/auction, specialist driven market is far slower than an ECN or a stock market like Nasdaq (OTC & screen based). Nonetheless, the exchanges are currently working to speed up their execution through tools on NYSE like BBSS and Institutional Xpress, both of which are improvements upon and adjustments to the older SuperDOT systems. Part of the reason the AMEX partnered up with Nasdaq was to improve its' technology. Your answer: sometimes the specialist will show the order in his quote; sometimes, he'll cross it at the market or at a slightly better cost with another incoming order; or other times, you may see your order represented on a regional: ITS, the Intermarket Trading System, is set up to ensure that if another exchange has a better price or an order that will improve your print, your order will be executed away from the receiving booth. LPS5

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