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To: Michael Turner who wrote (10019)10/22/1998 9:40:00 PM
From: pae  Respond to of 16892
 
Re: ISLD rule question.

Perhaps you only addressed me because I posted just previous to you. I do not consider myself particularly qualified to answer the question. Perhaps someone like Steve Goldman who holds a Series 7 among other things
Member 3943030
or a thread such as "The Island ECN" Subject 17451
might be good people or places to ask.

You might want to identify the other thread and/or other members involved perhaps by including a link. You might also want to warn people if you are conducting research and whether they or their handles might be quoted in some new tome.

Regards,

pae

No website,
no organization,
nothing to sell,
no agendas:
just an independent S.O.B.



To: Michael Turner who wrote (10019)10/22/1998 10:29:00 PM
From: Morpher  Read Replies (2) | Respond to of 16892
 
MMs are not allowed to cross or lock the market, regardless of which ECN or MM is on the inside. When a MM locks/crosses the market it is his responsibility to take action to unlock it. I don't know why ISLD would delete orders that are crossed by other MMs. I never saw this happen myself. It could be just a design decision that ISLD will be 'nice' and step away.


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