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Politics : Ask Michael Burke
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To: Don Lloyd who wrote (68377)9/29/1999 5:09:00 PM
From: Knighty Tin  Read Replies (2) of 132070
 
Don, If Merritt says it, I believe it's true. But I don't think that is what you were asking. Does it make sense for the brokers and the exchanges? No, way. Market orders means crooks on the floor set the prices and they are likely to make the market more volatile, not less. And for the brokerage firm, what do they care? If the price is out of the real range, it doesn't get executed. If volatility occurs, everyone knows that limits get hit at your level or better no matter how far down the contract goes. It sounds to me like the broker is understaffed and is trying to make up for the fact that their floor operation is likely to be asleep at the switch.
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