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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: Morpher who wrote (6516)	2/15/1999 3:53:00 PM
From: TFF	Read Replies (2) of 12617

Well we all know what this is about. Once stocks get halted the market makers can hide behind the NASDAQ Order Handling Rules. This gives them "carte blanche" to give fills anywhere within a 15 minute time span after the halt(not to mention holding limit orders in hand until market orders are filled). I can just see the complaints hitting the SEC's email when people realize that their national discount firm just filled their orders 15 minutes after the clients gave them the orders and miles away from the bid/ask that the clients saw when they entered the orders. U-gly! On the brighter side traders with access to ECN's probably won't miss a beat. If anything it will just create more volatility before/after the halt. Ironic isn't it? They are so worried about people losing money day trading and here they are making matters worse for the little guy at the national discount firms. hmmm I wonder if Island will halt stocks on their NEW stock exchange?;)

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