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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Dustin who wrote (10346)	10/4/2000 1:56:17 AM
From: -	Read Replies (2) of 18137

Yes, that is how ARCA works - it is an intelligent order-preferencing engine. Not sure of the current details regarding ECNs vs. Selectnet - that used to be a minor weakness but I believe it's been fixed. It goes to ISLD first then works it's magic if there is no fill there. I trade with ARCA and ISLD limit orders all day (avg 50-100 tickets/day), never have a problem with a fill so that's a none-issue for me. In my own "hands-on" experience, ARCA fills run circles around Cyber's smart-orders. There is a reason that the list of companies that invested $100M+ in the Archipelgo ECN reads like a who's who of Wall Street. I have no affiliation with or interest in ARCA/Terranova/MBT/etc, just a trader always looking for the best tools. e.g. I would dump Terranova in a heartbeat for Cyber, if I thought it made sense... they're pretty good though, I'd likely be happy there too. In the end, the Level II/execution tool is very important it's your trading decisions and your brokerage that are vastly more important. Steve

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