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Non-Tech : CyBerCorp.com
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To: Chris Steele who wrote (535)4/19/2000 4:25:00 PM
From: brec  Read Replies (1) of 1001
 
There is a difference between the obligations of a MM who is buying order flow to the broker selling the order flow on one hand, and the obligations of a MM under NASDAQ rules to other market participants who communicate via SelectNet or SOES on the other hand. I think the original question (I thought the MM's had to execute a minimum of shares at the ask) may have confused these two roles.

As you know, MMs who buy order flow generally contract to fill orders from the selling broker at the NASDAQ inside market up to a certain size (which may vary from stock to stock). In certain cases, as you have implied, having this service available can be an advantage. Direct access brokers such as Cyber do not provide it.
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