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To: Brendan W who wrote (6384)1/8/1998 3:00:00 PM
From: Esteban  Read Replies (1) | Respond to of 16892
 
Brendan,

Island is for Nasdaq only. Your limit orders are supposed to be represented on the NYSE. That has been the case for me, and in the situation you describe I would get the first fill at 10 1/16 if I was the first to make that best bid/ask. On the ASE trading SPY I have not been able to determine whether I'm being represented as the best bid or not when appropriate. Certainly not a certain times, but the outcome has always been ok to date so I haven't pressed the point.

Esteban