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Strategies & Market Trends : DAYTRADING Fundamentals
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To: OZ who wrote (8330)5/6/2000 9:29:00 PM
From: Eric P  Read Replies (1) of 18137
 
If an ecn decides to become SOESable, do they give up the right to be executed against directly and intentionally as they are now and thus become ONLY SOESable? If the NASD allows them to have both options simultaneously, that puts them in a serious competitive disadvantage to the ecn's and I find it hard to believe that they would shoot themselves in the foot like this.

If the ECN becomes SOESable, then they will certainly maintain the right to continue matching limit orders internal to their limit order book. But I believe your question is whether they will be capable of being both SOESable AND SNETable at the same time. I'm not sure of the answer of this question, but I assume that they will NOT be able to be both. Let us know what you find out Monday from Market Reg.

-Eric
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