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In a message dated 2/17/99 1:34:55 PM Central Standard Time,
warlord@xxxxxxxxxxxxxxxxxxxx writes:
<< When it comes to electronic systems, first come, first served. Fair?
Maybe but certainly reflects a different outlook or philosophy to life. >>
Globex2 is first in first out. Project A has some algorithm built into to it
to give distribute order flow to traders based on their normal trading size,
similar to the way the pit operates.
One advantage of this approach is that it gets more traders involved. If some
large order was in the system first, say for 10,000 contracts, only that
trader will be involved at that price from that side of the market. With the
algorithm, more traders get hit and thus participate.
Regards,
John J. Lothian
Disclosure: Futures trading involves financial risk, lots of it!
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