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To: RockyBalboa who wrote (4101)10/27/1999 5:56:00 AM
From: E. Davies  Read Replies (1) | Respond to of 17977
 
I agree too that the ISLD book just stopped.

I was using it today for the first time and saw to my amazement why it has been so hard to hit a fast moving ISLD bid using L2.

The ISLD orders on the regular L2 screen are about 2 seconds slower than the book! Often by the time they showed up on L2 they were already gone from the ISLD book. Who knows how much slower L2 is to the actual market.

2 seconds may not seem like a lot, but when you are dealing with a stock that is dumping and the only way out is to hit an ECN those 2 seconds could mean big $$ chasing bids that are not even there.
Eric