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Strategies & Market Trends : From the Trading Desk

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To: steve goldman who wrote (2574)	2/12/1998 3:54:00 PM
From: Dirk Hente	Read Replies (2) of 4969

[price improvement, soes, selectnet] steve you mentioned a couple of times that you can achieve a 'price improvement' regardless whether you receive a market or limit order. even after i visited your web site i just dont understand how you do it. you say: By setting up the SOES system, the trader is trying to protect the client from missing the trade while striving for price improvements for the client. Depending on the speed at which the market is moving, the trader could route the order so that the client's order improves the inside market. whats the meaning of 'setting up' soes? And how can you 'route an order to improve the inside market'( to achieve a better price)? does this mean that you are placing (routing) an order at the same time to different systems (selectnet & soes) thereby risking a double fill? as far as i know Cybertrader allows you to send multiple Soes/Selectnet orders, however, with the risk of multiple fillings. so, i assume the naz workstation gives you the same flexiblity.

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