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To: Michael Watkins who wrote (2308)	1/15/2002 3:01:42 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 12411

Michael - If I recall correctly, Globex has no valid stop orders. You can trade market - limit or stop limit. So a stop order would be a simulated Globex market order or a plain stop order to the pit. Some trading platforms, as the new kid on the bloc: PATS, are stricly limited to the electronic trades (Globex, a/c/e, Liffe, Matif,...) with no provision to route to the open pit. This morning's spike and mess was, IMHO, from mis-informed traders not understanding the implications of simulated orders.

To: Michael Watkins who wrote (2308)	1/16/2002 1:47:21 PM
From: Chris	Read Replies (1) \| Respond to of 12411

Hello again Michael. Thanks again for the tip on IB. I spent most of yesterday and today going over the demo and read through the IB thread here at SI and also at Yahoo. The feedback has all been very positive. I am going to take care of the paperwork and process an account application today! I assume that the data in the demo version is delayed in some way? The time I was on and trying it today, the market has been so flat that it is hard to tell... Several people on the discussion threads mentioned problems with the market data falling behind the actual market (as shown on an outside market data feed) on the TWS platform. However, they went on to say that the order system is independent of the market data and fills will match the data as shown on a reliable outside market data feed. I run a RealTick III setup for market data. I just wanted to confirm that this is indeed true...i.e. I should watch market data on my RealTick setup and place orders on IB, regardless of what the IB market data says? Thanks. Chris.