Discretion Orders clarification

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Imported from previous forum

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Hi all,

 Does anyone know the difference between Passive discretion & proactive discretion orders releated to ECN like ARCA ?. is any one help me regarding this ?
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[ original email was from Himanshu Sharma - hsharma@knighttrading.com ]
Checkout http://www.mastertrader.com/rt76/orders_main.asp

Passive Discretionary Orders: Trade with the street at the show price, and trade with the book at the discretionary price. For example, a bid of 71.10 with a discretion range of .05 displays a bid of 71.10 to the street, but if an ARCA offer for 71.15 or less is posted, your order attempts to take it.

HTH

> Hi all,
>
> Does anyone know the difference between Passive discretion & proactive discretion orders releated to ECN like ARCA ?. is any one help me regarding this ?
>
>