when SMART is RETARDED

canceling an ISLD order should be almost instantaneous

 

When using Best, I only assume that it will send my
order to the best RIGHT now, and I NEVER
assume or WAIT for it to reroute.
Ive never had the patience to wait for a reroute.
Never seen it happen...10 seconds or whatever is
way too long.

Then again...when I want out FAST...I rarely use best,
I just go straight to Island anyway (usually island)

axeman

 

I have to jump in to mention that if you're trading the SPY's, don't use "smart" as your order *may* be sent to the AMEX, which is notorious for v e r y slow executions and confirmations. Talk about waiting and waiting and, well, you get the idea...

Best,
Jim

 

I had unfortunately used SMART to buy to cover an NYSE stock. What happened was that a few hundred shares were executed at the nyse ask then magically the order went to various nasdaq ecn's where I was quickly screwed on the rest of the order( even though the nyse price had not moved). And it was not like the order sat long, the whole sad thing was over in 5 seconds.

When I enter nyse from now on I only use the nyse route , never smart. Never had that happen with best.

 

smart = best
only name changed, nothing else.

 

STILL FORGOT:

mjt, IMO, your understanding of 10 secs is correct.
had a look on the chart, it confirms what my "feeling"
told me last weeks.