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Non-Tech : MB TRADING
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To: Colin Cody who wrote (2151)11/22/1998 1:40:00 PM
From: Rick Faurot  Read Replies (1) of 7382
 
Colin,

I got on a kick trying to preference MMs via Selectnet a couple of months ago. It does work at times, but more times I find the MMs would back away from my preference and drop off the ask without responding. Before everybody jumps on me, I KNOW this is illegal. But it happened beaucoup times. And, when it does happen your order is dead as dust because it is only displayed to one MM and no one else can see it.

If I see a big MM like NITE on the ask with 10 showing where I want to buy, I will often SOES them. This is pretty effective because big dealers almost always have more shares than they display, especially NITE. SOES hits cannot be deflected.

Rick

Ps. An option is just to use SNET without preference. This is a good route if there are adequate shares showing.
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