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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Ken Katz who wrote (11300)	3/19/1999 11:24:00 PM
From: gbh	Read Replies (2) \| Respond to of 16892

very different story with marketable limit orders, say, sell at limit $66 when the bid is $70 -- they did not show up on Island and were treated AS REGULAR MARKET ORDERS with several minutes execution time Ken, this would depend upon if ISLD was at the current market bid. If so, your execution would be instantaneous. Marketable limit orders can be slowed if ISLD is not on the inside market. In this case, the order is SNET'ed out to the market (for 30 seconds, according to Datek). If no fill occurs, its returned to Datek, for another look at ISLD. This process continues until a fill is produced. This can result in multi-minute fills in some cases. Keeping the ISLD limit book viewer open (available at www.isld.com) can assist you with when to hit the sell/buy button. By waiting until you see some volume show up at the inside market until you try to buy/sell, you can sometimes speed up your fill. Sometimes it pays to wait a few seconds, rather than getting caught in an order routing loop. Also, the ISLD limit book viewer is typically 1-2 seconds "ahead" of Streamer in its quote updates. Gary