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Non-Tech : Meet Gene, a NASDAQ Market Maker
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To: dannobee who wrote (1127)10/4/2000 12:35:25 AM
From: LPS5   of 1426
 
Hi Danno,

Sorry for the delay - I'm still trying to figure that out. Succinctly, I believe that any market plan or initiative which follows the "CLOB" proposals - that of a centrally located, simultaneously rulemaking and participating market entity - is horrendously anticompetitive.

On the other hand, a plan (SuperMontage or other) that requires only the reflection of every market participants' quotes - and doesn't dictate or standardize connectivity, functionality, or other participant-side issues - which is to say, acts only to achieve true, unilateral transparency at any given moment is meritorious and probably overdue.

And, I believe that the fees which nonsubscribers are assessed when accessing ECN quotes via SelectNet should be reflected in their price quotes.

But as for how daytraders, position traders, or investors will be affected...I still need to hear a bit more.

LPS5
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