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

To: William W. Dwyer, Jr. who wrote (1346)	9/17/1998 4:27:00 PM
From: CyBerCorp.com	Read Replies (2) \| Respond to of 3216

Hi Bill, Great question. What I know about ARCA I've learned from customers of ours that have used it before. When you send an order through ARCA it posts on TNTO's book first, if it cannot execute in their book THEN it gets sent out to the rest of the market. CyBerTrader's smart keys use an independent mechanism to route your order to the optimal counter party at the best price. Whether the smart keys use SOES, Select net, or direct access to an ECN to execute your order depends upon what's available in the market. With the smart keys you are never limited to the liquidity of any one ECN or Market Maker, they can execute against any ECN or Market Maker. BTW, you can fully re-configure the smart keys to look for MM's or ECN's in whatever order you want and you can disable SOES if you want. I hope this helps out, please let me know if I need to clarify anything. Happy trading, jonny B trader support CyBerCenter