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Strategies & Market Trends : Level II Trading -- Ignore unavailable to you. Want to Upgrade?

To: Jack Zahran who wrote (368)	3/15/1998 2:51:00 PM
From: Morpher	Respond to of 1086

I don't think I understand your point. I believe just because an order is represented on Island, it doesn't mean that it will be allowed to fill through Island. I think what is happening is that orders are being represented but held up until the brokers in-house traders get a chance to make a legal profit for the house. This can only make it harder for you to fill at the best prices. I don't think it is possible for Island orders to be "held up." If a MM or an ECN is representing your order and somebody wants to trade against it, they better fill it or have some very good reason not to. Also, I never had a case when I entered an order matching some other ISLD order and it wasn't filled immediately.