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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: CanynGirl who wrote (6664)3/9/1999 7:54:00 PM
From: RobbRacer  Read Replies (1) of 12617
 
Canyon Girl,
I just read your post and found it very interesting if true. But from what I understand about how block sales work I'm not sure if you are incorrectly assuming some things. It is my understanding if a block sale of size is to occur the firm handling the sale would "place" those blocks with only a handful of other firms who express an interest in buying it. Typically a block of 200,000 shares of a hot internet stock would only take a couple of calls. the stock would then be DTC'd to the buying firm or DVP'd (delivery vs. Payment) and the transaction would be complete. Because of the size of the tranaction and the manner in which it was delivered, this trade would not be reported to the tape and thus not broken up into 200 share lots as you suggest. You can probably confirm this with steve goldman. He would have knowledge of this I'm sure.
Rob
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