DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: LPS5 who wrote (10584)	11/6/2000 10:46:55 AM
From: Dominick	Read Replies (1) of 18137

Hi! LPS5: Just curious. Did you listen to "Anthony@Pacific" radio show on the net last night at 10:00 p.m. ET? If you didn't, he discussed how the NASD increased volatility buy eliminating the rule in July 98,that a MM's quote had to be within 150% of the average MM' quotes. He gave some examples on level 2, i.e. bid $1, offer $65 from the same MM. This he says negates their responsibility of providing a market and reduces their liability. The MM's will do most of their trading on ECN's. Also, they reduced the 1000 tier size to 100 shares. If MM's has quotes every tick, (1/16), under the old rules, (pre 1998), it would take $32K to move one point. Whereas now it would only takes $3200. Your comments please, Dominick

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