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Strategies & Market Trends : Level II Trading

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To: Street Walker who wrote (75)	2/4/1998 8:08:00 PM
From: Dominick	Read Replies (1) of 1086

Street Walker: I believe the MM carry little or no inventory. So, if they get hit with a lot of trades it takes awhile to recover. Also, the SEC made them narrow the spreads. By the examples you gave, it's their way of saying OK you made us narrow the spreads but you didn't say anything about what we need to do up & down the scale. The NASD is now looking for a "pattern of practice", instead of individual violations. In other words, it's ok as long as your rate of backing-away is low. Who defines low??? Dominick

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