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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: pater tenebrarum who wrote (55739)1/9/2001 12:12:49 PM
From: C.K. Houston  Read Replies (1) of 436258
 
JAPAN: After-Hours Trading to start Jan 22

"This is our 'love call' to the Tokyo Stock Exchange" ... On Jan. 22, Goldman Sachs will begin offering a night-trading service called Moon Trade through DLJdirect ...

But some people have misgivings about the new service to be launched by Goldman Sachs. Some are worried that as it is driven by a foreign-firm it will accelerate the "Wimbledonization" of Tokyo markets. Others fear that the market-maker system to be used will lead to unfair pricing ...

London-based Goldman Sachs International will act as the market maker for Moon Trade ... "When it comes to a nighttime market, the market-making method is the only way to go," he said. "If the auction system were to be used, the market could become very quiet and ultimately nobody would use it."
yomiuri.co.jp
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