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Strategies & Market Trends : From the Trading Desk
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To: steve goldman who wrote (4309)3/5/1999 5:15:00 PM
From: Dave Shares  Read Replies (1) of 4969
 
Steve,

I placed an order today twice with one of my brokerages to cover a short position, where my offer was between the bid and ask. I expected to see my offer go up on the bid, and did not. My order filled a minute or two later, but I was disturbed that the offer was not out there, as the stock could have run and I would have been left out there.

My question is whether the NASD rules requiring that my offer be displayed apply to buy to cover orders the same as they do to regular buy orders, and if so, who would I contact to register my complaint ?
Would it be the compliance office of the brokerage ?

I'm pretty sure who the MM was, and it is one of the ECNs I believe.
I am not happy about this, and think there should be some accountability here.

Thanks,

David
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