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

To: WallStBum who wrote (1376)	3/30/1998 7:48:00 PM
From: Street Walker	Read Replies (3) \| Respond to of 1618

SOES = small order execution system It is software that allows you to hook directly into the Nasdaq market. You are usually limited to 1,000 shares and there are specific rules that have to be obeyed, unlike trading at Datek or some other brokerage firm. SOES trades are the fastest available. You click the button and two seconds later, you get a confirm that you purchased it. To enter an order with a place like Datek, you have to go through an order and preview page...a lot of hassel, particularly when you have to type in your pass word. I've bought and sold a stock by the time Dateker's and the like finally get in. I'm grateful for them buying the stock I'm offering them. SOES trading uses Level 2. We see how many market makers are at the various bids and asks. Hope this helps, S.W.