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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: max who wrote (865)	8/23/1998 4:01:00 AM
From: shag007	Read Replies (1) \| Respond to of 7382

You should be able to execute against an island order using island. You have to make sure your not offering on the bid or bidding on the offer. FDA

To: max who wrote (865)	8/23/1998 1:10:00 PM
From: William W. Dwyer, Jr.	Read Replies (2) \| Respond to of 7382

Max, I have, on occasion, been frustrated with ISLD for the same reason. However, I believe you have put your finger on the problem. You can't cross or lock ISLD (and some other ECN's, too, I believe). So, you would need to preference via SelectNet probably, although that might be more keystrokes and take a bit longer. My personal experience is that I get more trading done quicker via ISLD than via SelectNet. Obviously, it's very important to know which to use and when. But I think you said it correctly. Bill

To: max who wrote (865)	8/23/1998 5:40:00 PM
From: Stoctrader	Read Replies (1) \| Respond to of 7382

Alan-Perhaps someone will correct me if I'm wrong, but I believe: ISLD will not let you lock or cross the market with a bid or offer....If this is incorrect, it would be useful to know so. That is incorrect. In fact, the whole premise of the ISLD book is based on crossing, ie. matching buyers and sellers at a common specified price. Max's problem could have been feed related but it's hard to say without actually being able to see it happen. Keep in mind that there are many scenarios that could be the potential cause. The most important thing to remember is that your order is not the only one in the market. Just because you see size on ISLD at the bid, you might not get it because of several factors: 1)Someone else on ISLD beat you to it. 2)That bid could be subject to a selectnet preference from somebody else. 3)That bid may be getting cancelled by the person who entered it. 4)ISLD is having technical problems. If you try to get out with ISLD but the order gets rejected for seemingly no logical reason, the best course of action is to switch over to another execution system. In other words, don't waste time trying to fight with ISLD while your position goes against you. Baron Robertson Editor and Publisher Elite Trader www.elitetrader.com