The future of the OTCBB and Pink Sheets Message Board

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Non-Tech : The future of the OTCBB and Pink Sheets

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To: Roger Staubus who wrote (6)	3/29/1999 1:07:00 PM
From: Chris Block	of 28

Although I would not call it rape nor call them bastards (we're all greedy) I can sympathize with your concerns. However, they are just using the system as it is laid out to earn as much as possible to justify the risks they are taking. Instead of complaining about the current system SBX is taking advantage of a hole that will benefit investors. The "hole" is that currently the OTCBB is a closed system. Orders must be directed to Market Makers who then display the order only to other Market Makers. This leads to price inefficiency with the investor getting the short end. By allowing investors to (1)have non Market Makers represent their true order, (2) have the ability to change and work their own order, and (3)display it in the most public forum possible, the tables will be tilted back to the side of the investor. At the same time by creating a central place for order display, more orders will be entered, thereby improving the liquidity of the stock, and actually helping the market makers execute more of their own orders. I don't particularly like the cliche, but it is a true Win-Win proposal.

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