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Non-Tech : MB TRADING
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To: wily who wrote (2498)12/3/1998 12:55:00 PM
From: Rick Faurot  Read Replies (1) of 7382
 
wily,

Interesting. 30 seconds seems like an inconclusive error in logs. Could be differences in clock settings. Personally I think that ISLD cross/locks happen not only because the shares you are trying to buy get sold just as you enter your order, but because their computer gets backed up, which it reads as a "can't fill" signal. If you are bidding at the ask and the computer decides it can't fill you there it has to kill you as displaying would lock the market--and the computer knows that's illegal and therefore won't do it.

I'd still rather trade with a computer than with an MM.

R
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