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

To: Shoot1st who wrote (2467)	12/1/1998 8:47:00 PM
From: Colin Cody	Respond to of 7382

shoot, I don't have frustrations with ARCA anymore...I stopped using it when I saw thousands of shares trading at my bid/ask when I sat at the top and did not get filled. Who do you use then? I just got my MBT account activated today (and it is overwhelming!). I tried one small trade for fun using ARCA and as you've stated it was like I was invisible. I watched it on the MBT Level II and my SEOL Level II (and yes there were differences). Until the ask dropped below the bid I was at did I eventually get filled. I would presume most volume is coming from retail houses and they send the orders to their MM. I was the ONLY one on the Bid and as you said, thousands of trades were made/honored at MY bid price. This is because the retail houses go to THEIR favorite MMs and they will MEET the bid price. If the MM refuses, then he might not get "order flow" next time. So by using ARCA (with my ONE experience so far) tells me all we are doing is helping out OTHERS at the retail houses who use MY ARCA bid with their own "payment for order flow" Market Makers. QUESTION:- when I was listed on TNTO on L2 WHO was "the other side"? No retail broker has access to TNTO I presume, No MM would bother with TNTO, so was it just waiting for another ECN user to match me? Colin