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Island Market Maker
- Thread starter Nordic
- Start date
Originally posted by cashonly
So, when you put an order out, how can you direct it to ILND vs. ISLD?
If there are no fees on ILND, I could see people going there for executions as opposed to going to ISLD.
You could supersoes ILND,but then you pay the .002 per share nasdaq fee,as opposed to paying .0019 per share for accessing ISLD.
Originally posted by F1Trader
What exactely will this SuperMontage do ? Eliminations ? Additions? Problems ? Benefits? .........can anyone BRIEFLY explain... ? Thanks
try this
site...http://nasdaqtrader.com/trader/hottopics/supermontage_hottopics.stm
Originally posted by Vinny1
You could supersoes ILND,but then you pay the .002 per share nasdaq fee,as opposed to paying .0019 per share for accessing ISLD.
Just to clarify again ('cause I know Vinny knows this already) you could not SS ILND by choice, rather if you choose to route your order to SS while ILND happened to be the ranking MP in line for the next SS order, then your order would be autoexecuted against ILND via the SS system.
Originally posted by Vinny1
DAT,say a MM fills a Supersoes order for their displayed size and they also have a reserve size,do they get reranked to the back of the line when their displayed size is replenished from their reserve?
Yes because any incoming SS order will -by definition-be executed against all displayed volumes first and then reserve volume if needed. So when there are multiple MM's bidding when a SS sell order is received, the MM with the reserve volume only gets executed for their displayed volume and then go back to the end of the line. ONly when there are no more MM's bidding at that price would their reserve volume be subject to execution providing it was needed to fill outstanding SS sell orders.