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

To: Stryker who wrote (2242)	3/31/1999 8:09:00 PM
From: JDTrader	Read Replies (3) \| Respond to of 3216

I am glad that you have now provided a response in writing as the CEO of cyberbroker. I find your response very interesting, especially considering your earlier response as to the subscription only orders and the fact that your program restricts the daytraders' options by not providing the choice of subscription only orders in the Island book. The fact still remains that the order sent by cyberbroker client will not be filled, and the customer's order will be rejected. That is because cyberbroker is set up so that it will ALWAYS attempt to post the island orders in the level II window as an inside bid or inside ask, subject to the Nasdaq rules against crossing and locking the market. As a result, the Island sell order at 117 (executed by cyberbroker customer) will CROSS and/or LOCK the market if posted, and hence not allowed because the inside bid in level II window is 125. The way cybertrader is set up, the cybertrader customer will be left out in the cold because he/she does not have an option of having the order filled ONLY from what is in Island, regardless of the prices in the level II window are. This in turn deprive the cybertrader customer from taking advantage of the liquidity available in the Island book. 2) As to the issue of delay in daily hi/low , approaching hi/low and top 10 gainers/loosers, I encourage those who have access to the program to measure the difference between when a symbol for the first time is posted at a certain price in their so called alert window with the time that that symbol is first traded at that price and printed or with the intraday one-minute chart where the price at issue falls between the posted low and high of the minute bars for the first time. No one knows what normal condition or normal connection really means. Those terms are vague and subject to interpretation. However, for those of you who want to know with certainty whether there is a delay in symbols posted by the cybertrader filters, I suggest that you perform the test PERSONALLY on a number of different symbols during the course of any given day.

To: Stryker who wrote (2242)	4/1/1999 2:21:00 PM
From: compradun	Respond to of 3216

Are there any plans to upgrade cybertrader's time and sales window? I would like to have something comparable to Real Tick's TOS. Especially helpful would be a display of the size of the NYSE spec on the best bid/offer. Right now all you see is the price. It makes a difference whether there were 100 or 30000 shs at that price. Notice the focus on the NYSE specialist line, it is the only relevant info. Additionally if you could make the position manager more sensitive to size changes on the relevant specialist line that would make your product more helpful for trading listed shares.