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Thanks. I didn't think what I wrote was reality.. but one never knows.. :)
don
Sent: Saturday, March 24, 2001 3:47 PM
Subject: Re: [RT] Globex2 Stops & PATS System-timing of routes.
> Don:
>
> The answer, as you can see from my reply to Earl, is "all of the above."
>
> If an exchange matching engine (a/c/e, Globex2, Eurex) supports a specific
> type of stop or stop limit order, then PATS routes to it. At least for
the
> exchanges we are connected to so far, a/c/e, Globex2 and I believe Eurex.
> Though I am not as well briefed on the Eurex functionality as I rarely
trade
> it. I hope to be changing that.
>
> PATS will route Globex2 stops to the OM server, just like Leo web or our
> PriceTrade will. PATS will route Globex2 stop limits directly to Globex2,
> just like PriceTrade. Leo web probably does also, but I am not a user of
it
> so I don't know all the specifics.
>
> PATS will routes stop orders directly to a/c/e. PATS will also allow you
to
> created synthetic stop, stop limits and MIT orders hosted on your local
> machine. So a trader could put in an MIT order on an Tbond, Emini S&P or
> emini Nasdaq, but it would be held on their own machine. I don't have
> another system that will do this, so if one of my customers wants this
> functionality it is either this or a straight limit order. But choice is
> good.
>
> Regards,
>
> John J. Lothian
>
> Disclosure: Futures trading involves financial risk, lots of it! John J.
> Lothian is the President of the Electronic Trading Division of The Price
> Futures Group, Inc., an Introducing Broker.
>
>
> In a message dated 3/24/01 10:54:30 AM Central Standard Time,
> detomps@xxxxxxxxxxx writes:
>
> << John,,
> dittio I was confused also. I am talkin Emini orders here. I really
don't
> my stop order to be safely tucked in my server, waiting for a transmitted
> price to enter my machine, for the machine to make the calculations and
then
> to broadcast back to the exchange servers with an order to sell.
> If I run PING to to LeoWebs server (as an example). A DSL ping takes
about
> .125 to .20 seconds, a 56K modem takes about double.
> So I have price coming to me, I have price order being broadcast out,
then I
> know when its busy at the exchange server my order request is put in a
> buffer, I have waited over 3 to 4 seconds in very busy markets to get a
> confirm back from a market order from Leoweb.
>
> So what is the bottom line about where limit and stop orders are held?
>
> Regards,
>
> Don
> >>
>
>
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