Meet Gene, a NASDAQ Market Maker Message Board

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Non-Tech : Meet Gene, a NASDAQ Market Maker

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To: gene_the_mm who wrote (827)	8/28/2000 1:12:42 PM
From: Threei	Read Replies (1) of 1426

Gene, while I agree it's not going to be that rosey many think, it doesn't seem to me as grim as you described either :) To me, bottom line is: 1. Amount of shares avaiable at certain price level is not going to be impacted greatly (of course it might decrease some because of bigger risk exposure under new set of rules, but it's not like 100 shares would turn to 10K or other way around). 2. 5 seconds between fills results in increased volatility. 3. Obligation to show minimum 1000 shares if MM wants to have reserve helps to see that THERE IS reserve (at least it's better than with 100 shares and any kind of reserve like we have today). 4. No SNet liability - it sucks. 5 ECNs are not likely to participate in SuperSOES, so competition is still there. Overall - yeah, volatility and risk exposure is going to increase, especially first weeks after implementation. What happens then - we will see. My quess would be: seasoned traders will adjust quickly and gap between them and less experienced ones is going to increase... Vadym

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