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Non-Tech : Meet Gene, a NASDAQ Market Maker
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To: gene_the_mm who wrote (410)8/4/2000 12:07:38 AM
From: paper man  Read Replies (1) of 1426
 
Gene - not quite yet - please answer a part of the question you overlooked - or let me ask again.

Can a MM make prints for buy orders that are naked. The stock runs up - can they short it back?

Now we have a buy order not truly filled (naked) and we have a sell order short.

In this scenario if the company executes a proxy to the shareholders interest - desired vote - how will the MM manuever to deliver shares equivalent to the proxy?

The same question applies if in the above scenario - the MM fullfills buy prints going up (not naked) and shorts it going down.

In addition, the scenario above could be considered a double short assuming it is legal for them to print buy orders on the way up that are naked.

All fo this ofcourse relative to retail buyers.

Last of all - if it is illegal to print buy orders going up that are naked (still short) - is it still done?

If it is not done - and shorting down is the only problem to face - can downward sells be printed naked? (never shorted0 hence cancels your theory about capital required to maintain a short position.

Assume these scenarios for a .50 stock that runs to 2.00 and back to .50 in 45 days.

All of this ofcourse maintaining a distinct difference between the terms naked and short - or am I just all wet.

Thanks for your interest..
good luck
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