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

To: Dan Spangenberg who wrote (4745)	5/29/1999 3:39:00 PM
From: Holt	Respond to of 7382

Dan, sorry you're right. Miscommunication between myself and the webmaster. Here's the actual text: CyBerCorp Adds Direct Links to Three More ECNs, Amplifying the Speed of CyBerXchange AUSTIN, Texas, May 25 /PRNewswire/ -- Already acclaimed for having some of the fastest executions in the industry, CyBerBroker got even faster today when it announced direct links to the REDIBook (REDI), Archipelago (ARCA) and NexTrade (NTRD) electronic communication networks (ECN). Combined with existing direct links to the Island (ISLD) and Attain (ATTN), CyBerBroker now offers its online traders direct access connections to five major ECNs. "To our knowledge, CyBerBroker has more direct access links to ECNs than any other online broker," said CyBerCorp CEO Philip R. Berber. "This means our investors may benefit from faster, smarter and more cost-effective transactions." CyBerCorp established the links by developing proprietary execution server technology in house, then laying a technological bridge directly to the specific ECNs. These links were then blended into CyBerXchange, which is a proprietary intelligent and independent "Central Order Routing and Execution" (CORE) technology. CyBerXchange is designed to direct and execute orders in real time to whichever Market Maker or ECN is offering the best price and the required volume in that moment. "The significance of this is that almost all brokers offering broad access to ECNs do so primarily through Nasdaq's SelectNet facility," said Berber. "This results in additional costs, and can slow down the speed of execution, and the investor's ability to react to extremely volatile market conditions. "The 'cost' involved in indirect ECN access takes two forms: Time and money. Orders placed through SelectNet must go to Nasdaq first before being routed to the ECN(s). This immediately results in additional order cost, which is passed directly through to the investor by many online brokers, and can substantially impact the breakeven point for very active investors." Berber added that "from the time a SelectNet order is placed there is a ten second delay before the order can be cancelled. Within CyBerXchange and the direct ECN interfaces, the order can be canceled immediately. Also, if Nasdaq has technical problems and goes down, CyBerBroker can still forward the customer's orders to the ECNs." There are other advantages that CyBerXchange has over SelectNet, such as an intelligent algorithm that, after canvassing the ECNs with the order, routes the order to the market maker that has shown a history of filling orders for the particular stock. CyBerXchange will also split an order to get the requisite amount of shares filled. All of these advantages are designed to get the customer's order filled in a prompt manner, to avoid slippage. Slippage refers to the difference between the best price available in the market at the time the order is placed versus the price that the order was executed at. "Understanding and minimizing slippage and transaction costs are the key to eliminating the hidden costs of online trading," added Berber. Formed in 1995, CyBerCorp is an electronic trading technology group, which develops the trading platforms CyBerTrader and CyBerX, and through its subsidiary, CyBerBroker, serves as an online broker for more than 1,500 active investors and day traders. CyBerCorp's web site is cybercorp.com. For more information, please contact Holt Hackney, Communications Manager, at 512-320-5444 or hhackney@cybercorp.com. Holt