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To: brec who wrote (4661)	10/4/1999 6:39:00 PM
From: Eric P	Respond to of 18137

Hmm? I thought "subscriber only" means not shown on Level II, or more precisely, visible only to Island subscribers and not to other parties. Or were you using "Level II" as shorthand for "RT3's Level II display window, which now includes ISLD subscriber-only orders in addition to NASDAQ Level II data?" I suppose that "Subscriber-Only" does mean that the order is NOT sent to Nasdaq for incorporation into the Nasdaq Level II data which is distributed to the marketplace. However, you are correct in assuming that the entire ISLD book is now integrated into the Level II display of The Executioner (and apparently at least some other RT3 firms). Although not coming this way from Nasdaq, apparently this new feature has been added by Townsend Analytics in response to customer requests. Nice change. -Eric