Yes, Paul, you can set Smart Keys to first select ISLD (direct), then other ECN's, then all others. All of these are basically SNET orders with 10-second minimums. Once you put in an order, you're stuck with it for at least 10 seconds before you can change it.
In most cases, though, the Smart order initiates as a SNET order to a MM and just sits there, going from one MM to another, basically being ignored. And each order takes 10 seconds minimum....so the stock can uptick through many price levels before you find a counterparty who wants your order. Tough way to enter a trade. And then there's the exit, with same scenario. |
