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For a lot of traders this "solution" might have more problems then the
original. You always best to know the exact status of YOUR order, so YOU can
decide how to deal with it. A bounced order can be quickly called to the
trading desk. And maybe by then you want to change it. Best to keep the
chain of where the order is as uncomplicated as possible.
----- Original Message -----
From: DH <catapult@xxxxxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, February 28, 2001 6:13 PM
Subject: Re: [RT] 1950's No reply
> > ***** I would think that type of pre-execution routing would take some
> > speed
> > away from the execution relative to the number of times it would occur.
I
> > am
> > guessing that this is not a good tradeoff.
>
> No reason it would need to. The routing could be after the fact. When
> globex bounces the order because it's out of limits, route it to the
> globex clerk instead of back to the customer. Better yet, send it to the
> clerk and send a message to the customer telling him what happened so he
> can cancel if that's not what he wants.
>
> I realize all this is easier said than done but, from a customer's point
> of view, we would really like it if the broker took care of these things
> instead of making us tend to them.
>
> With all the globex problems the last week or so, I'd say this sort of
> thing is not so rare. The broker who gets my business is the one who
> makes sure my order gets done, no matter what, not the one who offers
> the best excuses about why my order didn't get done. Imagine dealing
> with a bank and never being sure if deposits would get credited to your
> account. "Oh, sorry, the computer was down so your money is gone." :-)
>
> --
> Dennis
>
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