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To: Sapper who wrote (37842)	6/1/2000 8:28:00 AM
From: Jimsy	Respond to of 62348

Sapper = re TSE filled sequence, what a lousy system, means you can leave orders parked and be sure of your priority on fill over more recent orders enterred at the same price!

To: Sapper who wrote (37842)	6/1/2000 8:28:00 AM
From: the Chief	Read Replies (2) \| Respond to of 62348

I'm sure the Chief will correct me if I'm wrong but I'll take a stab at it SG!.....Only the CDNX offers FIFO (the First order In is the First order Out or filled)....the TSE system attempts to fill all orders at the same time and if it can't it will allocate shares in proportion to the number of shares for each order..... Thats correct Sapper, with one addition. The formula for distribution on the TSE is an "agreed" to distribution between the brokerages. So DS who has...say 1,000,000 customers and Pong,Wong and Fritz may have 2000 customers, the allocation of the shares on a buy maybe 1share to PWF and 3 to DS. CDNX FIFO works better if you happen to be "first in"<ggg> the Chief