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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: Wayners who wrote (8275)6/8/2000 12:54:00 PM
From: LPS5  Read Replies (1) of 12617
 
LOL.

Thanks Wayne, but I don't need a silly book. I was there. While VP of a brokerage firm some years back, I applied for Instinet access and was rejected several times before finally being approved. And Instinet's reasoning, back then, was sound IMHO: that the size(s) shown on their book, given to smaller trading entities (we were a proprietary trading firm, but no megafirm to be sure), would only benefit those who would erode the benefit of the system for which it was intended: institutional entities wanting anonymity and reduced market impact.

IOW, that keeping the book for institutions only was in the interest of their clients, and that retail online investors or daytraders would only use the book to see the sizes and juice the market...the exact effect that users on Instinet sought to avoid.

Of course, times, markets, and paradigms change, requiring strategy changes in accordance with them.

LPS5
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