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Strategies & Market Trends : From the Trading Desk

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To: Edward R. Haskins who wrote (1954)	12/9/1997 7:49:00 AM
From: steve goldman	Read Replies (2) of 4969

There is a lot to your question and it is a bit vague. The Book on selectnet is the level2 screen. L2 gives you all the markt participants, (except for third and fourth markets) and their quotes, theirindividual books. ECNS showup on l2 with the best prices in their books showing on l2. When you put an order on selectnet it does not change the inside market which happens if I route to a ECN or update the quote. Sometimes not changing the market is more effective, sometimes it is not. On large pieces or large spreads, tampering with the insidemarket can move it against your position. Perhaps restate the question given what I just said and I can get more specific. Thanks Steve

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