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<SPAN
class=187514517-02052003>Earl,
<SPAN
class=187514517-02052003>
I had
always understood that, for most brokers, Globex held STOP orders on a
separate computer and sent them in to the main matching engine as a simulated
market order when elected. I recall that this was the subject of much discussion
last year when comparing IB's method of holding stops on its own computers
versus those of Globex.
<SPAN
class=187514517-02052003>
I note
from IB's web site on Globex orders that Globex has a simulated stop, which
would be what I 'm referring to. Has this changed?
<SPAN
class=187514517-02052003>
<SPAN
class=187514517-02052003>Andrew
<FONT face=Tahoma
size=2>-----Original Message-----From: EarlA
[mailto:earl.a@xxxxxxxxxx]Sent: Friday, May 02, 2003 1:36
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT] Stop
OrdersTo be clear, when referring to Stop Limit
orders, two prices should bespecified: Stop price which triggers the order
and Limit price whichspecifies the limit for execution.If your
order is 10.00/10.00 and price passes from 10.02 to 9.99 in a singletrade,
your order is triggered but will not be filled until price trades at10.00
or higher. I would not hesitate to use a 10.00/10.00 for entry but Iwould
use either a Stop Limit with very wide spread or a straight Stop.
Thechoice depends upon order handling at the exchange being
traded.Earl
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