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Strategies & Market Trends : From the Trading Desk

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To: steve goldman who wrote (2187)	12/31/1997 12:02:00 PM
From: g_m10	of 4969

Steve, I do agree with you absolutely that we would be better of without MM's, but I'm confused on what we can expect from NASDAQ itself to do about it. NASDAQ's full name is "The National Association of Securities Dealers, Inc." It means that this place to trade stocks was created by SECURITIES DEALERS for SECURITIES DEALERS to buy and sell stocks. This is what dealer is all about. Can we tell them to step aside from their own business only because we don't like them? I think they have all rights to tell us: "Don't like, don't come." If I want to sell my car (shares), can I drive the car to a dealership (NASDAQ), put it on the dealership's lot with the price on the sticker (ask price) and wait for the bidder from the street to come to buy my car? Can I tell to the car dealer (MM) "Get lost" If he dares to express his exclusive right to trade cars from his dealership? Just curious.

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