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In a message dated 4/24/00 10:08:59 AM Pacific Daylight Time,
elangley@xxxxxxxxxxx writes:
> My point is that Selectnet is NOT automatic. You are not guaranteed a fill.
> You are basically negotiating with the market maker to sell to you, and
they
> do not HAVE to. Yes ISLD is liquid, but it is not always represented as the
> best BID/ASK price.
Assuming there is nobody ahead of us that takes all the stock away, Selectnet
guarantees a fill for the size the market maker is showing (supposed to, at
least). If you want more than that, you have to hope he's in the mood to
fill. That's the nature of all markets. It has nothing to do with the ISLAND
ECN however.
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