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Non-Tech : Interactive Brokers / Timberhill -- Ignore unavailable to you. Want to Upgrade?

To: MechanicalMethod who wrote (2645)	3/15/2002 3:36:29 PM
From: CynicalTruth	Respond to of 9012

I better say sometimes <G>.. After I sent that the Best bid-ask has been following the Island bid-ask almost lockstep. The deviation I have seen is more pronounced when the vol is high which would be the case when the orders are taken out at a higher rate on Island. On the TWS I have 4 quote lines for QQQ, Best-Island-Instinet-NYSE, so the Island quotes usually lead. If you noticed NYSE usually has 50000 shares on the bid-ask with a .05 spread so you can tell when the Best quotes are for NYSE.... And my observations above are subject to change just as soon as I hit the submit button.... <g>.

To: MechanicalMethod who wrote (2645)	3/15/2002 5:14:36 PM
From: Dan Duchardt	Respond to of 9012

MM, I have not traded QQQ lately, but when I did i always felt ISLAND was leading the market, especially before NYSE started trading them. In view of the % of volume ISLAND now handles for QQQ, and how slow the exchanges are to fill orders, it makes sense that they would lag. Also, there is the issue the exchanges are complaining about that they have to give the best price available anywhere, so they are in effect forced to follow ISLAND around, are they not? Dan