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Non-Tech : MB TRADING

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To: wily who wrote (1522)10/22/1998 7:40:00 PM
From: Rick Faurot  Read Replies (1) of 7382
 
wily,

My experience with SNET preferencing is that MMs take a very free approach with the rules on it. I have had them ignore my preference for long periods while remaining on the inside ask. They then disappear without killing my preferenced bid or filling it. In general I think SNET is the least effective route for execution. If the shares are there, ISLD is supreme for speed, tho you are always taking a chance on a partial. After that, good old ARCA is a reliable workhorse that eliminates all the hassles about crossing or locking markets. The beauty of ARCA is that you can bid or offer any price you want and you will always go live and stay live until you either fill or kill. ARCA also stays live after a partial which may save you commissions compared to ISLD.

Rick
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