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

To: Colin Cody who wrote (2862)	12/20/1998 12:20:00 AM
From: Jim Sanders	Respond to of 7382

Hello Colin. Yes, in your first scenario if you hit the 500 share ISLD bid at 67 you will only trade 500 of your 1000 share order, and the remainder of your order will be killed. In your second scenario you would receive a message saying in effect that your proposed order would cross or lock the market, and Real Tick III would reject your order. You would then have to use some other execution vehicle (TNTO, SOES, SNET, etc.) to try and hit the bid at 67 since there was no ISLD bid at that level. In your third scenario, unless there was an ISLD bid at 66.875 or higher, again your order would be rejected as crossing the market. Regarding ISLD market orders, I honestly have never tried that, but your assumption sounds logical. Jim