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Strategies & Market Trends : Waiting for the big Kahuna
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To: James F. Hopkins who wrote (20747)6/22/1998 12:15:00 AM
From: Vitas  Read Replies (1) of 94695
 
Jim, the Nasdaq "double volume" phenomenon is not
quite double; it is probably a 40% overstatement.

When a brokerage firm gets the order and sends it to their own or
otherwise favorite MM, the MM has two choices - fill it from their own inventory, in which case the volume is accurate, or if they
don't want to do that, they buy from or sell to another MM first, and then fill the order themselves, which is where you get two volumes reported for what is essentially the same transaction.

Or something like that.

Vitas
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