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Non-Tech : Market Makers - What They Do and How They Do It -- Ignore unavailable to you. Want to Upgrade?

To: R.C.L. who wrote (334)	1/26/2000 8:37:00 PM
From: Richard L. Williams	Respond to of 429

My take is that MM's are under no requirement to fulfill limit orders at all. If you don't want to buy at the ask, then your order can sit for days and days and days. An event that happened with me on a thinly traded stock with a large spread. I eventually gave in and bought, which they knew I would. Anybody else?

To: R.C.L. who wrote (334)	1/26/2000 9:13:00 PM
From: DanZ	Read Replies (2) \| Respond to of 429

Bob, You didn't mention if the stock that you were trying to buy trades on Nasdaq or the OTC bulletin board. The order entry rules are completely different for OTC bulletin board stocks and Nasdaq stocks, so I'm assuming that it was a BB stock. According to recently enacted rules, Nasdaq market makers must fill your order if a stock trades through your price (below your bid). This isn't true for OTC bulletin board stocks, and it's one reason that I hardly ever trade them. Market makers in OTC bulletin board stocks aren't regulated by Nasdaq and they take gross advantage of investors. I once had a link to an article that described the differences between order entry rules for Nasdaq and the OTC bulletin board. I'll post it if I can find it. Best of luck, Dan