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Non-Tech : Datek Brokerage $9.95 a trade
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To: Morpher who wrote (3365)6/23/1997 11:54:00 PM
From: mrh   of 16892
 
Basically, the percentage of orders filled in the spread has been reduced because market makers don't make money by filling you between the bid ask anymore. They effectively have 20 sec ( the current guideline) to fill your order or represent it. Ask yourself if you would fill orders for nothing or wait and see if the market turns against your book and you could fill them for a gain. I see ISLD bids and offers sit out there and be represented as the best quote, but it doesn't seem like MM's are executing against them unless they are costing them money. t
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