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Strategies & Market Trends : Trading Political & Regulatory Issues

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To: Kimberly Lee who wrote (2)12/20/1998 12:33:00 PM
From: brec  Read Replies (1) of 4
 
> the Knight mm most likely would take out ISLD's offer at 1/8 size 1
> first (can use REDI or Brass to hide identity, INCA is too slow)

This is off-topic (already, and only post 3 on the thread!) but...

How could NITE hit an ISLD offer via another book? I am more familiar with Island than with the other ECNs, and all my familiarity is at this point only from reading, but I think that a MM could not use Island to hide identity when hitting a bid or offer on another book. Do other books such as REDI and Brass have the ability to "reach out of themselves" and initiate against an order on a competing ECN?

What is Brass and why is it not referred to by a 4-letter NASDAQ ID?
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