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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: CRUZ who wrote (8361)	5/7/2000 6:02:00 PM
From: OZ	Read Replies (1) \| Respond to of 18137

Why do you find SNETing an ecn archaic? I get my fastest fills this way? Because when one uses SNET to access an ecn, the order is routed through the NASDAQ computer system and then to to ecn. People that use brokers with direct access to an ecn, hit the ecn book directly. and eliminate the extra taxing of the NASDAQ system. If 1 minute after the open you were to SNET the REDI ecn, I could probably put in my order several seconds later and still get the shares first. NASDAQ has reported 10 to 50 second delays in there system on almost every open. That is BEFORE any additional net congestion. Most brokers offer direct access to ISLAND and and ARCA and many have added INCA. One good thing is that the new SOES will eliminate about 25% of the bandwidth congestion presently experienced. That combined with the fact that the SNET system will hardly be used anymore (when compared to the present), should improve speed and reliability in SNETing to ecn's quite dramatically. OZ

To: CRUZ who wrote (8361)	5/7/2000 8:18:00 PM
From: OZ	Respond to of 18137

Why do you find SNETing an ecn archaic? I get my fastest fills this way? Now I am hearing (reading actually) that if an ecn become SOESable, then he is no longer SNETable on the inside bid/offer. Supposed to be "fair" to the ecn's to reduce their dual liability. Problem is that Daytraders would LOVE the added liquidity of being accessible by both since what we publish is almost alway "real". So if your favorite ecn goes SOES, you better have a direct connection to it or you are just gonna find yourself in the SOES line trying to get out with everyone else. After thinking about it further, I do agree with Eric that they will allow ecn's to be both SOESable and directly accesible. So add a capital A to that word archaic. OZ