Bill, what do you see as the advantages to the Cyber system? You've been sounding kind of negative lately. I just started at MB a few weeks ago and, though I don't trade heavily--mostly positions--I've used ARCA a few times and it has performed well. It's real convenient for consolidating orders. Say if there's two quotes at the high bid, each for 500 shares, I can sell 1000 on ARCA on one ticket. I haven't tried ARCA in extremely fast conditions, but from what I've seen in level II it looks like you could get passed by. It's hard to say without having tried it.
I don't see why Cyber couldn't come up with something like ARCA. Basically it's a very ingenious invention. I know Scanshift has had a lot bad to say about it, but that reflects on the owners and the use of it, not the basic idea. It may not be good for Cyber's bottom line since it would mean potentially fewer tickets, but OTOH they have to keep up with the competition or they could lose customers.
Thanks for your thoughts,
wily
Edit: Post intended for Bill Dwyer, sorry Paul. |
