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

To: tom pope who wrote (2701)	12/15/1998 2:35:00 PM
From: kaz	Respond to of 7382

Tom, I had the same problem once or twice. As others have said here, it could have been that someone else beat you to the available shares (there were enough at the ask to cover your order, right?). You can't place market orders on ISLD. You can, however, place an order below the bid or above the ask and you will fill immediately for any shares available at or below your price. If, on the other hand, there are no shares available and your bid is above some MM's ask, you will then cross the market and your order will be rejected. This is because your bid would be the lowest on ISLD so it must show on Level II. But because it is higher than the current ask, it can't be shown or it would cross the market. If none of this was the case I do have one more suggestion. It was my procedure to double click on the MM with the best ask and check the "Selectnet preference" box so that if ISLD was not available I could hopefully get in quickly. In RealTick, however, even if you place an order via ISLD when the SNET preference box is checked your order will be routed to the MM you preferenced (who may or may not have shares at your price anymore). It took me some time to realize this, and I was getting quite frustrated until I saw that my SNET order was rejected for crossing but I KNEW I had pressed the ISLD button. Hope this helps. Paul Kaz

To: tom pope who wrote (2701)	12/15/1998 3:19:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 7382

Tom, Are you confident your real time is really real time? Even a delay of 5-10 seconds can mess you up trying to hit ECN bids especially near the opening or closing. Alan