A comment was posted on this thread a while back about a proposed change in Nasdaq to form a central limit order book:
<<To: +Eric P (1618 )
From: +Eric P
Wednesday, Apr 21 1999 7:11AM ET
Reply #1635 of 1700
The SEC is taking another look at a proposal to create a central Nasdaq limit order book...
A sort of 'super ECN'. This would look to be an excellent proposal for small investors/traders, bringing back a greater degree of fairness to the market. However, as such, it is likely to fail once more.
bloomberg.com;
It seems like a good idea for the individual investor, so I brought together some information about it for you folks to look over. I believe that the SEC proposal I identified below is the correct one, but would appreciate it if someone else could look it over to double check. If you agree that it is a good idea, then send your comments to the SEC using the URL near the bottom of this post. You don't have to write a book, just let them know that you support the change.
News item referring to the re-opening of a public comment period on a proposal to set up a "super" limit order book:
bloomberg.com
The text of the proposal can be found under:
electronic-traders.org
about 1/2 the way down, with the title:
NASD Proposal to Integrate the Nasdaq Order Delivery and Execution System
Securities and Exchange Commission
March 12, 1998
[Release No. 34-39718; File No. SR-NASD-98-17]
You can send your comment to the SEC by going to the following URL and entering the file number given above (SR-NASD-98-17):
electronic-traders.org
Sure, the MMs will oppose this change, but if the SEC gets indication of enough support, they may approve it anyway and then it will come into being. It would be nice if everyone in the market were playing on a more nearly level field.
TIA,
ST |
