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

To: wily who wrote (1522)	10/22/1998 12:16:00 PM
From: jerry sullivan	Read Replies (1) \| Respond to of 7382

Question...what are the margin rates with mb trader? thanks js

To: wily who wrote (1522)	10/22/1998 5:08:00 PM
From: Michael Turner	Read Replies (1) \| Respond to of 7382

Hello Wily, I would only preference outside the spread if I knew that a market maker was active in the stock for the day. Some trading platforms have a tool that shows how many times each market maker has been at the inside quote. If I can see that GSCO has been at the inside bid 196 times today, and the next most active market maker has only been there 84 times, I will definitely preference Goldman. Usually, however, a broadcast is effective...and usually there isn't a HUGE difference in activity like the example that I just gave. I don't know your answer about the Island question. I am going to post it on the Datek thread and see if I can get any answers. Regards, Michael Turner Author DayTrading into the Millennium tradersresource.com

To: wily who wrote (1522)	10/22/1998 7:40:00 PM
From: Rick Faurot	Read Replies (1) \| Respond to of 7382

wily, My experience with SNET preferencing is that MMs take a very free approach with the rules on it. I have had them ignore my preference for long periods while remaining on the inside ask. They then disappear without killing my preferenced bid or filling it. In general I think SNET is the least effective route for execution. If the shares are there, ISLD is supreme for speed, tho you are always taking a chance on a partial. After that, good old ARCA is a reliable workhorse that eliminates all the hassles about crossing or locking markets. The beauty of ARCA is that you can bid or offer any price you want and you will always go live and stay live until you either fill or kill. ARCA also stays live after a partial which may save you commissions compared to ISLD. Rick