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Non-Tech : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: mst2000 who wrote (2304)8/10/1999 7:26:00 PM
From: Arcane Lore  Read Replies (2) | Respond to of 4443
 
There is no central order book for NASDAQ stocks (in the sense this phrase is usually used - see below). An article by Gretchen Morgenson which makes the case for a central order book can be found at:
cybercorp.com

Further background can be found in a WSJ article posted in #reply-10072917

While Level II might, I suppose, be viewed as an order book, it is not really "central" and this fact gives rise to the problems referred to in the articles.

The proposed central order book rule can be found on the SEC web page sec.gov while links to comments received electronically are at sec.gov



To: mst2000 who wrote (2304)8/11/1999 8:19:00 AM
From: TE  Respond to of 4443
 
My source of info on the POSIT was a WSJ artical I will try and find it. As far as NASDAQ I know for a fact that you cannot see limit orders placed on level III in one central location. NASDAQ is working on implementing this system but it is not yet in place. The only limit orders you see on NASDAQ are the ones displayed by the ECN's or MM under each individual stock.


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