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

To: bobby is sleepless in seattle who wrote (4181)	3/2/1999 12:15:00 PM
From: steve goldman	Read Replies (1) \| Respond to of 7382

I use jags. Reasonably nice service, though I dont remember the alst time I really, really read through it, analyzed it. etc. Often, when a stock is up 2 preopen, no news, I will check jags and there yo uwill see an upgrade from a firm, a "new init: ACDF firm ups XZY stock to strong buy" later, about 11am you might see it for the first time on Dow Jones, Reuters. We have someone that scans in the Jags and then searches it for stocks we have open orders in or clients have large positions..then we can filter in from there. for daytrader, might be userful for seeing where some 'action' will be. if anyone wants to take a look, email Joe@yamner.com and ask him to forward one of the pages of the fax. -steve@yamner.com

To: bobby is sleepless in seattle who wrote (4181)	3/2/1999 4:22:00 PM
From: max	Read Replies (1) \| Respond to of 7382

Bobby- ISLD is a limit book, which, by definition, cannot accept market orders. Brec's point is that you cannot enter a market order directly into the ISLD ECN. Obviously you can enter one at Datek, but if there is no ISLD at the inside market, then Datek leaves the ISLD system to fill the order. In one sense, Datek is to ISLD as ARCA is to TNTO. Datek/ARCA will accept a limit or market order, and will attempt to match within ISLD/TNTO. If this is not possible, then Datek/ARCA will attempt to fill in the open market. BTW, Datek will not allow you to cross an ISLD bid/offer away from the inside market. It will attempt to fill with an MM at the inside, while some ISLD user gets the execution you were looking for with a direct cross. Hope this makes sense.