CyBerCorp.com Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : CyBerCorp.com

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Chris Steele who wrote (535)	4/19/2000 12:48:00 PM
From: WryBoy	Read Replies (1) of 1001

On the new SOES/Selectnet rules, now slated for June 5: CyberCorp probably won't have to do anything differently. The rule changes affect the way SOES and Selectnet orders are handled by Nasdaq, not by the broker. To be more specific: The new NNMS aka "SuperSOES" system will enable ECN's to participate in SOES. This means of course that ECN executions under SuperSOES would be subject to the 5 minute rule (yuck). Also, the SOES 17 refresh time is reduced to 5 seconds (good). As for Selectnet, it becomes a non-mandatory system for negotiating trades. This means MM's will not be subject to the 15 second "fill or move" constraint they now have. Also, I believe you must preference for at least 100 shares greater than the MM's displayed size, else the order is rejected. In that case, I assume Nasdaq will return the appropriate message back to the broker and, in turn, the trader. I don't see what Cyber will have to do differently as a result. Now, the decimalization of Island is another matter. I am hoping Cyber will enable us to take advantage of this announcement by offering us the ability to enter decimal orders (Island is going decimal in July). WB

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next