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

To: Rick Faurot who wrote (2497)	12/3/1998 12:22:00 PM
From: wily	Read Replies (1) \| Respond to of 7382

I know we had a big discussion on the ISLD "kill in a locked market" issue and no one seemed to know what the rule really was. It's been bugging me, and I finally called Nasdaq to straighten out one of those Island "kills" and was told I really needed to call Island and was given the name and phone number of the person to speak to. When I told the guy at Island that my live order had been deleted when a MM crossed it, he doubted that it happened and checked in his records for entry and delete times of my order and the order that crossed it. His records showed that mine and the MM's were entered simultaneously. However, there was a 30 second discrepancy between my records and his. The upshot, so far, is that your order should NOT be cancelled if it is there first. I'm still waiting for information from my broker to see where the time discrepancy comes from. I think this issue needs some careful watching. wily