DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: CRUZ who wrote (8361)	5/7/2000 6:02:00 PM
From: OZ	Read Replies (1) of 18137

Why do you find SNETing an ecn archaic? I get my fastest fills this way? Because when one uses SNET to access an ecn, the order is routed through the NASDAQ computer system and then to to ecn. People that use brokers with direct access to an ecn, hit the ecn book directly. and eliminate the extra taxing of the NASDAQ system. If 1 minute after the open you were to SNET the REDI ecn, I could probably put in my order several seconds later and still get the shares first. NASDAQ has reported 10 to 50 second delays in there system on almost every open. That is BEFORE any additional net congestion. Most brokers offer direct access to ISLAND and and ARCA and many have added INCA. One good thing is that the new SOES will eliminate about 25% of the bandwidth congestion presently experienced. That combined with the fact that the SNET system will hardly be used anymore (when compared to the present), should improve speed and reliability in SNETing to ecn's quite dramatically. OZ

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