| sorry, the exact name of this process evades me at the present time. imo, THE # 1 QUESTION IS do they send your request to a "preferred" (by them, not by you. and if they are going to do this, usually, its on a market order (not recommended at any time). its the proverbial, "i put in a market order and it didnt get filled till it hit the low of the day.") mm. or does it go to all mm and the best buy or sell is taken. this doesnt happen that much any more, sec started clamping down on it about 9 months ago. it was a conflict of interest for the brokerage (it was a freakin crime as far as i my believe) as they got a kick back from the "preferred" broker, and the client got a very horrible fill. ie, if the price reversed from your position, then the order got filled. if it didnt reverse and continued up, oops, you didnt get filled, "they had other orders ahead of yours.". sorry again, the exact term for this process evades me at the time. tk2k |
