ECN Bogus Bids and offers, Manipulation BY MMs Message Board

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Non-Tech : ECN Bogus Bids and offers, Manipulation BY MMs

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To: Anthony@Pacific who wrote ()	7/27/1999 12:27:00 PM
From: FDHIII	Read Replies (1) of 112

Ok.....I've got a gripe about HMQT sitting on ENGA's offer.....they have consistantly walked down the offer over the last 4 days without showing more than 100 shares at a time ever. Today is no diffrent but they have not been ONCE on the bid. Doesen't that violate some SEC rule that an MM has to be on the bid some x percentage of the time that he is on the ask? I'm not positive on these rules, but Anthony you are. Right now HMQT has been on the offer 18 + times and has not been on the bid once. What is your opinion of them anyway? And is this legal? regards- F~

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