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Technology Stocks : 3DFX
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To: Ralph Bergmann who wrote (1475)1/31/1998 6:59:00 AM
From: robnhood  Read Replies (1) of 16960
 
Ralph,, When a block trades on a downtick , it is usually and rationally assumed that there was a seller looking for a buyer . NAZ mms are different than NY or Toronto MMs in the fact that they get the orders in hand to execute. If someone wants to sell 100,000 TDFX, they give it to a MM, he then sells the stock at various prices, in the end he knocks it down a bit and crosses the block to himself. The client is then given a net fill at one price, any profits made are in lieu of commission. This is what I read on another thread some time ago from a NAZ MM.
russell
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