Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (8625)	1/16/2001 9:35:25 PM
From: dli	Respond to of 12617

Actually participation of ECNs in SuperSOES as currently implemented would be rather disadvantageous. SuperSOES enforces time and price priority but to determine position in the priority queue only a single timer is used per market participant for both sides of the market. So a change of quote on one side will also rerank that market participant's quote on the opposite side with regard to time prioritization. Assuming your are bidding at the inside market through an ECN any change or reserve refresh of that ECN's best offer would send your order back to the end of the queue of all market participants at the inside. Separate timers are not expected to be implemented until the introduction of SuperMontage. Dave