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To: Frank Fontaine who wrote (58)	12/15/1999 12:36:00 AM
From: bill	Respond to of 996

Right Frank, Still don't understand how they can do this crap, guess they stick together. Take a look at my esp wt.net and myway as you scroll down,is there more ?

To: Frank Fontaine who wrote (58)	12/15/1999 12:37:00 AM
From: Ga Bard	Respond to of 996

Here is the SEC report on the MM activities over time ... A substantive article from the SEC: sec.gov Here are some of the exerts of the investigative report!!! Loks like the SEC is trying to clean up the abusive practices of the MMs also. A lot of what we comlain about is within that report. Goof find Jim!! In addition, the NASD failed to enforce vigorously significant rules applicable to its market maker members. The investigation revealed that the Nasdaq market has not always operated in an open and freely competitive manner. Nasdaq market makers have engaged in a variety of abusive practices to suppress competition and mislead customers. For example, the investigation found that some market makers have displayed quotations at prices at which they did not intend to trade in order to help another market maker trade, have orchestrated artificial increases or decreases in prices of trades, and have improperly delayed the reporting of trades to the Nasdaq market for their benefit or that of another market maker. Numerous market makers frequently have failed to honor their price quotations in violation of Commission and NASD rules requiring firm quotations and prohibiting misleading or fictitious quotations. Many market makers have not consistently reported their trades to the Nasdaq market on time or appropriately designated as required by NASD rules. The interests of market participants in accurate, fair, and reliable pricing were not served. The NASD has instituted measures to enhance the enforcement of the trade reporting, firm quote, customer limit order handling, and other market making rules, and has begun the development of an enhanced audit trail. And there is more in that article. :-) Gary