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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Uncle Frank who wrote (2663)10/12/2001 11:30:53 PM
From: Dan Duchardt  Read Replies (2) of 5205
 
duf, et al.

I'm not up on the latest with this, but the SEC has been pushing the exchanges to interconnect so as to insure that investors get the best prices available regardless of where the order is sent. In theory, you should get filled at the inside market for any marketable order. There has been considerable debate about how the exchanges will achieve this. They are holding out for the right to fill orders that come their way at the best market price available at the time without being obligated to pass the order to an exchange posting a better price. Many consider this to be anti-competitive, and I tend to agree. It permits the exchanges to post inferior prices and still grab any orders that come their way by arrangements with the brokerage firms.

Dan
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