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Doug,
You mentioned LEO is much faster than a broker...about 45
seconds....actually 45 seconds seems like a long time.....
I used to use LEO, but got real frustrated with two areas....
1) Getting an "anything done" on a limit order that just hits your price
was almost impossible...I guess MIT and stops would be the orders of choice.
2)CXL and Replaces could ONLY be done through LEO....so let's say you wanted
to CXL or CXL/Replace and you had a little problem....it was the a BIG
hassle to call and get it done...could be scary......When the market became
real volatile...the floor might not take any CXL/Replaces or OCO's...you
have to do each separately.....You could not get a verbal Out on your CXL so
you might in fact have 2 orders working for a few minutes AND they both
might get filled.
3)We had the person on the other end calling back often to confirm the order
anyway...if the order was real close to the market....Did we want stp ob
etc.......????????
Have you experienced any of these problems?
Thankyou for your reply....Tom Stein comfut@xxxxxxx
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