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

To: William W. Dwyer, Jr. who wrote (1360)	9/18/1998 2:08:00 PM
From: CyBerCorp.com	Respond to of 3216

Hi Bill (and everybody else), First let me apologize for the delay in my answers, I stay pretty busy here in cyber land but I plan on getting more active on S.I. from home. Now, to answer your question, the only real difference in executing against ECN's directly as opposed to using the smart keys is simply that when you use direct ECN execution you decide which ECN to direct your order to. The way that I explain it to people is that if you're sending an order to buy at the ask or sell at the bid the smart keys are your best bet because they instantly direct your order to the optimal counter party. If you're looking to buy at the bid, sell at the ask, or buy/sell anywhere inbetween then the direct ECN execution is great because of the exposure you get with your order, i.e., posting on level II. You are correct on the three ECN's that we have direct access to, ISLD, INCA, and ATTN. I can't discuss commisions though because I don't work for CyBerBroker (I'm sorry!!). I can tell you that ISLD and INCA do the most volume out of all the ECN's that exist. Let me know... jonny B trader support CyBerCenter