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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: Jeff Gibbons who wrote (168)	10/26/1996 4:22:00 PM
From: ----------	of 308

I honestly do not know all the issues involved in why it must be manual, or if it really does have to be manual. The only way I have ever heard of it working is manually. What the human checking the order does IS a repetitive routine, so in theory it could be done by a computer program, I suppose. The only thing that comes to mind as I write this is a possible regulatory issue. Somebody along the line is required to have a securities license. Assuming a customer does not, (which is a reasonable assumption), the computer would not. I don't know if this is why or not. I'd much rather admit I do not know than try and explain a reason that may not be valid. I WILL attempt to find out the rationale. Doug

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