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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: LUANNE CLAY-RUSSELL who wrote (4977)	6/24/1999 8:08:00 PM
From: Tai Jin	Read Replies (1) \| Respond to of 7382

Welcome to the nasdaq market. Just because you are the best ask does not mean that you will be executed. The inside ask defines the inside market for market buy orders. Those orders can be executed by market makers who are getting order flow. Let's say I put in a market buy from etrade at the time your order was the best ask. Well, etrade sells order flow to market makers (NITE, HRZG, maybe others). So my order would have been sent to one of these market makers and they would most likely fill my order without my order ever getting out to the market to hit your order. Using ISLD would not help you here unless there was more liquidity on ISLD. ...tai

To: LUANNE CLAY-RUSSELL who wrote (4977)	6/25/1999 12:29:00 PM
From: bobby is sleepless in seattle	Respond to of 7382

Luanne, Although this is not relevant to your situation, I am confident your order would have been filled (at minimum, partials) via Datek... Datek has become an on topic issue and I find them to hit the bid/ask with consistency, no matter the best mm/ecn... as explained by the desk (not much confidence in their replies, including whether or not isld can be a "true" market order) datek will try to cross order internally then broadcast if not filled...