I found the appendix with transcripts of the actual
phone conversations interesting.
For example:
-[76]- An example of market makers coordinating
quotations in an apparent effort to create the
appearance that the market for a stock is moving
up, or that buying interest is emerging, is set
forth in the following taped telephone
conversation. One trader, holding a long position
in the stock Parametric Technology Corp. (PMTC),
asked another to move his bid up:
Trader 1: Are you doing anything in Parametrics [sic]?
Trader 2: Ah, running for the hills, bro.
Trader 1: Okay, can you. . .
Trader 2: What can I do for you?
Trader 1: Can you go 1/4 bid for me?
Trader 2: Yeah, sure.
Trader 1: If you want, I'll sell you two at 1/4, just
go up there. I'm long them and I want it
going.
Trader 2: Yeah.
Trader 1: Okay, I sold you. . .
Trader 2: Two. That would be great.
Trader 1: I sold you two at 1/4. Just go up there,
okay?
Trader 2: I'm goosing it, cuz.
Trader 1: Thank you. |
