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To: mst2000 who wrote (2304)	8/10/1999 7:26:00 PM
From: Arcane Lore	Read Replies (2) of 4443

There is no central order book for NASDAQ stocks (in the sense this phrase is usually used - see below). An article by Gretchen Morgenson which makes the case for a central order book can be found at: cybercorp.com Further background can be found in a WSJ article posted in #reply-10072917 While Level II might, I suppose, be viewed as an order book, it is not really "central" and this fact gives rise to the problems referred to in the articles. The proposed central order book rule can be found on the SEC web page sec.gov while links to comments received electronically are at sec.gov

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