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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (8069)	3/23/2000 6:46:00 AM
From: Wayners	Read Replies (3) \| Respond to of 12617

Thats pretty much how it works. I'd be the guy either at the inside ask where you can't see NITE internally matching orders and my price would just sit there and languish while everybody else got filled even if I was there first. That shouldn't happen with a central book. Or I'd be the guy making NITE eat shares on the bid, or trying to. I don't have problems with NITE backing away. Myself and others I know ALWAYS have a problem with HRZG. Either their electronic systems suck or they're consistent cheaters. If NITE backed away on me in this instance, I'd call my broker within a few minutes and complain and hopefully Nasdaq Regulation would make them eat it. Thats how it works and I've made market makers eat shares in the past. But the flip side is how many people are going to stop or reduce their trading (less supply of suckers to take money from) if the the payment for order flow becomes obsolete with the time price priority scheme. In a way I guess I need payments for order flow to help with liquidity. The amazing thing about payments for order flow is that there are direct order entry brokers with commissions that are the same as these national discount brokers. I don't understand why people don't use more of them.