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

To: Dave O. who wrote (3931)	2/15/1999 6:13:00 PM
From: Colin Cody	Respond to of 7382

I do not get a [cancel]. What I get is a fill for 63 shares, followed by a fill for 37 shares. AS TO WHY WE SEE SO MANY OF THEM: ISLD is a computer system that does MATCHING, it does not hold an inventory (as a Market Maker would do). THEREFORE when someone early in the day does an odd lot there's no MM there to make it a "round lot" for the next guy. e.g. in my example above, my partial of 37 shares were matched with some OTHER Island order (for 37, shares), leaving THAT GUY with 63 shares to go. So then HIS 63 shares go off, by matching with yet another ISLD customer, and THAT GUY's order then needs 37 more shares to complete... and this goes on and on all day long. Colin