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The question shouldn't be which is faster but which gives the best fill. If
you have a good broker who knows you, they will work to get you a good fill.
If you use CUBS / TOPS which employs a broker to stand there and execute
whatever orders come in (it is about as impersonal as it gets), you will get
yanked around on your fills turning a possibly profitable trade into a loss
and making your cost of doing business oh so much higher. From what I saw,
the broker didn't make much of an effort to fill the orders and the locals
looked at the CUBS orders as free money and ignored them when it was not. It
isn't worth it to do electronic order entry via CUBS on the Big S&P.
Patrick White
----- Original Message -----
From: "TradingSystem.Com" <mike@xxxxxxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, October 10, 2001 1:20 AM
Subject: To Call or to Click, Which is the Faster
I have been trying to determine which is faster for placing an S&P order,
which gets executed the fastest
1. To click and send an order electronically to CUBS
2. To call someone at the trading pit
I have had two brokers tell me that even though I could place the order
electronically with them, that is was faster to call the order in directly
for better execution and fills. Another broker said that it was faster to
send the order to their CUBS interface.
What is true here? Is there any fast execution method electronically?
Those of you with experience, let's here it.
Mike.
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