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Strategies & Market Trends : From the Trading Desk
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To: John Carragher who wrote (4094)1/18/1999 7:41:00 AM
From: steve goldman  Read Replies (1) of 4969
 
John,
No explanation, thats just simply how it is. I dont recall the exact formula, buts its fairly straightfoward, something like .03 per 10,000 or such. I'm at home today and dont have the calculation in front of me.

Its just simply something the SEC instituted. I think it came about the same time the SEC made the NASD admit to 100 million in upgrades, surveillance etc...so they pass it along to the member firms and investors.
-Steve@yamner.com
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