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Strategies & Market Trends : SOES Trading

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To: Alan Stalter who wrote (950)	11/9/1997 9:34:00 AM
From: Chris Block	of 1618

Alan, I don't understand your correlation between combining soes and selectnet and eliminating them. The names may be eliminated but we will still have an automatic execution for 1000 shares on the inside market (SOES) and a broadcast system for limit orders (SelectNet). I do feel that combining SOES and SelectNet is the first step in making the NASDAQ stock market more competitive and transparent to traders and individual investors. The more competitive and transparent the market becomes the better execution price our customers receive. In answer to your question regarding a "big hindrance", I feel it is irrelevant. The combination of the two is the correct thing to do. Just as the 100 share rule was disliked by many, it was still the correct thing to do. It's not fair to force a market maker to buy 2000 shares when he only wants to buy 100. The first thing to do is make the game correct and then figure out what is/was a hinderance. Regardless of the rules, good traders always figure out how to make a fair return for the risks they take by being a short term speculator.

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