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Strategies & Market Trends : From the Trading Desk

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To: KM who wrote (4355)3/21/1999 6:32:00 AM
From: steve goldman  Read Replies (4) of 4969
 
Manning rules require that a firm display a bid or offer ifyou ask, if it is over 10k shares or $250k/ They probably had a client that had a limit order, they get 30 seconds to try to make amarket, a spread on it, and then they displayed the bid.

They might have used NITE because Nite does a lot of volume. A bid is a bid, particularly in that stock. We do a moderate amount of business with Nite. They have good points and bad points.

Regards,
Steve@yamner.com
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