Datek Brokerage $9.95 a trade Message Board

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Non-Tech : Datek Brokerage $9.95 a trade

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To: Morpher who wrote (11748)	4/27/1999 2:07:00 AM
From: Ira Player	Read Replies (2) of 16892

I'm confused about representation on Island. Could someone help with info? I have placed several trades lately using limits. An example follows. I enter a limit order for XXXX shares of CIEN at $22. It is immediately reflected on Island. I get several partial fills, amounting to about half my buy. The original XXXX shares stay on Island for 10 minutes. A few more shares trickle in. Island still shows XXXX shares bid at $22. I get all but 2, yes 2, shares at $22 before the stock moves away and I decide to cancel the order. Island still shows XXXX shares bid at $22. Cancel 2 shares. Island (after about 15 seconds) clears the XXXX shares at $22. About 6 minutes later, I get cancel confirmation. Is this normal? I have to assume the shares at $22 were mine. Why didn't the XXXX amount change as my order was filled? Doesn't this give any people looking at Island the impression that there is more depth than really exist? If Island updated in about 15 seconds, how come the cancel took 6 minutes to show up in my daily activity? Thanks in advance, all ye experienced threaders. Ira

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