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

To: E. Davies who wrote (136)	11/10/1999 5:54:00 PM
From: TREND1	Respond to of 212

Very interesting ! Larry Dudash

To: E. Davies who wrote (136)	11/10/1999 7:09:00 PM
From: TFF	Read Replies (1) \| Respond to of 212

You have just discovered the one weakness of direct order entry. Market makers are extremely difficult to hit (especially if the market is moving against you) The reality is that you must use island or use limit orders outside of the bid/ask to execute quickly. Market makers have all the time in the world to decide who they will fill and when. It s not Cyber - it's the market. Now you know why island orders are sometimes going off 1/2 or 1 pt outside the bid/ask. On the other hand Brown and Co sends its order to be executed by the market maker in exchange for payment for order flow. This gives the market maker liquidity in house to fill orders against its position in the market(like the one that was filled for you) Sometimes it workes against you but sometimes the market maker is on the wrong side and you can get much MUCH better fills than current bid/offer. 2 sides to every coin;)

To: E. Davies who wrote (136)	11/10/1999 7:38:00 PM
From: fftrader	Read Replies (2) \| Respond to of 212

Eric, I can't tell you much as I have just started trading with CyberX, but this is whats happened so far. All of my orders have been Cyber-Limit. They have all(8) been filled by ISLD and one by ARCA. The ARCA one was strange mainly because I hit the buy button instead of the sell one. I had a limit order at 159 7/8 and was filled at 159 5/8, which caught my attention as why did I get executed(sell) below my limit price.-thats when I realized I hit the wrong button- a costly mistake. However I am wondering why none of my orders have been filled by MM's ?? I thought they are routing for the best price ? without Level 2 I'm blind ! ff

To: E. Davies who wrote (136)	11/10/1999 8:11:00 PM
From: jtsaratoga	Read Replies (2) \| Respond to of 212

I rarely be able to buy at bid and sell at ask using CyberX using CyberLimit, period. JT

To: E. Davies who wrote (136)	11/10/1999 8:18:00 PM
From: jtsaratoga	Read Replies (1) \| Respond to of 212

Has anyone seen any discrepency in the accounting/trading confirmation? I have not watched them closely but I will do so in the future. Are you able to export the trades within CyberX? If so, how? Just wanted to get a feel about its reliability. Thanks in advance, JT