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

To: Paul K who wrote (1862)	2/2/1999 7:50:00 AM
From: William W. Dwyer, Jr.	Respond to of 3216

Paul, This is an excellent idea. I have many many times watched a stock rise (or fall) through several levels (or more) before I was successful getting a fill on SNET using CyBerSmart keys. This is in a fast-moving stock, not really slow ones. There are direct ISLD order entry keys in CyBer, F-1 to bid, F-3 to short, and F-4 to offer. These get direct to ISLD without using SNET, avoid SNET fees, and can be cancelled instantly. I have, on occasion, actually entered and subsequently cancelled 3, 4, 5 orders or more to get a stock on ISLD versus going the SNET route. Main problem, of course, is that SNET orders can't be cancelled for 10 seconds minimum. There are a lot of settings that can be configured on CyBerSmart keys to determine how you want your orders handled. The Delta Limit keys and SOES cruise features are also helpful, as is having a display of the ISLD order book similar to a traditional Level 2 montage. All in all, there are so many choices, with so many options that a new trader could quite easily be overwhelmed by it all. But, as you seemed to imply, my best experience has mostly been using ISLD orders. Bill

To: Paul K who wrote (1862)	2/4/1999 6:55:00 PM
From: Patrick	Read Replies (1) \| Respond to of 3216

Good questions. The CyBerSmart key does seek to execute first with all available ECNs at the inside quote, before trying to execute with a Market Maker, and a CyBerSmart Limit order only finally gets sent over as a resting order onto the ISLD to the extent that it has not been filled by expiration of the 60 second period within which these CyBerSmart orders operate. You will have to confirm from CyBerBroker what is the position concerning cancellation of orders within the CyBerSmart or Cruise Key processes.

To: Paul K who wrote (1862)	2/12/1999 1:09:00 PM
From: Stryker	Read Replies (1) \| Respond to of 3216

Dear Paul, The 25 cent cancellation charge applies only to SNet and SOES orders that are cancelled by the trader or the trader's computer settings. That is, there will be a cancellation charge unless the market rejects your order or time's it out. Keep in mind that if you have an order cancelled as a result of your auto cancel settings in your configuration, the cancellation charge will apply. The same goes for cancellations as a result of the CyBerSmart replacement function, where it cancels and replaces the order every 10 sec. if it has not been executed. If I have failed to answer your question in detail, please feel free to let us know. Would be more than happy to elaborate on any details.