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To: Dolfan who wrote (46190)	7/9/1999 2:40:00 AM
From: paulmcg0	Read Replies (1) \| Respond to of 50264

Speaking of MMs, it is technically feasible to eliminate them from the picture and "cross" trades between buyers and sellers, using computer software to match them up. I know that E*Trade and Datek have been working on setting up a network to cross trades for Nasdaq stocks between their customers. Some MMs have been trying to stifle this claiming that it makes the brokers into another stock exchange. IMHO, market makers are just glorified pimps, matching buyers and sellers up, while taking their cut (the difference between the bid and ask) and playing games with stock prices. To use a current buzzword, MMs should be "disintermediated" as much as possible, i.e. eliminated as the middle man by technology. If America West can eliminate travel agents by e-mailing me a list of what cheap tickets they have every Tuesday night, why can't MMs be eliminated by something like the auction technology used by eBay that matches buyers and sellers?