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To: Sir Auric Goldfinger who wrote (1213)6/25/1999 1:05:00 PM
From: Arthur_Porcari  Read Replies (3) | Respond to of 1440
 
Auric, They just about have to be broker dealers or it couldn't be posted on the Instinet, but the test is whether they are just representing unsolicieted bids or offers. Or trading for their own account.

It took over an hour this morning to get filled on a 3k share buy order at $8.375 that was put in through a major wire house.



To: Sir Auric Goldfinger who wrote (1213)6/25/1999 3:34:00 PM
From: TE  Read Replies (1) | Respond to of 1440
 
Auric,

You are wrong. A MM can post orders on instinet to buy or sell out of their trading accounts. They cannot solicit orders from clients unless they file a 15c-211.