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To: Rick Faurot who wrote (3826)	2/11/1999 7:36:00 PM
From: wily	Read Replies (2) of 7382

OK, that clears it up a lot. I don't think I'd have much use for the PNP mode. I'm never really thrilled about using ARCA in a fast market. I rarely chase. I'll pay a premium on Island for the security of a sure fill. Mostly I use ARCA in calmer markets for order consolidation, although it did help me get out of a position today. I think even on that one the order filled partially and then hung and I had to enter it again. Nobody seems to know about the "limit order pool" that Nasdaq was proposing last year and that the MM's shot down. Guess it would have made the market too efficient... w

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