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It might also be mentioned that flash fills are usually only available on
those contracts that are heavily traded, i.e. TBonds, the indexes and
sometimes, the some of the grains. You must also remember in your order
placement to ask for a "flash fill".
Ed Hanley
-----Original Message-----
From: Paul Brittian <tradeblt@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Sunday, July 19, 1998 10:23 AM
Subject: Re: Brokers
>John and others,
>There most definately are "flash fills" and a customers doesn't have to
>pay more for them. Perhaps you don't really know what a flash fill is
>or how where the term originates. A "Flash" is the hand signal used by
>brokers to buy and sell in the pit, they use a setnumber of different
>hand signals because it's too noisy to hear. When a brokerage calls the
>floor and places a trade, the phone clerk signals the floor broker who
>the executes the trade and reports the fill back to the phone clerk, all
>using hand signals. The phone clerk then verbally reports the fill to
>the brokerage who were waiting on the phone, all this took about 15
>seconds. So there's another FLASH!!!
>Paul Brittain
>John Dundee wrote:
>>
>> There is no such thing as a flash fill. This is just sales hype. All
orders must
>> be executed before you are filled.
>> JD
>>
>> mgj@xxxxxxxxxxxx wrote:
>>
>> > >> placing almost all market orders directly into the pits which
provides our
>> > clients with flash fills in those markets.<<
>> >
>> > What exactly is a flash fill? Do guys in the pits get paid more for
this type
>> > of trade?
>> >
>> > - Mark
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