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To: Dan Duchardt who wrote (7849)	1/7/2000 1:08:00 AM
From: hasan syed	Respond to of 12617

DD, Phatom Bids to me are the 5 to 10k bids/offers on thinly traded stocks intended to do nothing but spike it one way or the other. With regard to your other point, I also cancel things, under circumstances you illustrated. However, I don't think this is what they were referencing. Lastly, your point on SOES is well taken. SOES has been dead for a while. In my mind, its pretty useless unless someone simply wants 100 or 200 shares. I'd say in the last year or two, I could count on my fingers the # of times I used the SOES button. Such a shame, I recall quite well the altruistic ideal of SOES when it was implemented. Oh well, looks like even the big board will adopt ECNs at some point. Best of luck. Regards, Hasan