Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Meet Gene, a NASDAQ Market Maker -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (424)	8/4/2000 10:25:33 PM
From: LPS5	Read Replies (2) \| Respond to of 1426

A "Super" has nothing to do with SelectNet. It's one of three classes of message called IOI's (indications of interest) which are broadcast on AutEx. They are, incidentally, not firm. Market makers have an ethical and business responsibility to act in the interest of their institutional customers, which means not disclosing what orders they're working. It would be business suicide, and there would no advantage, in revealing to other traders outside ones' firm what stocks, side, and/or size one was working. For that matter, one trader will typically not discuss what he has with other traders, even at the same firm. If an institution had even the slightest doubt regarding the confidentiality and, therein, care taken with his orders, the trading firm would lose that call (or allocation) and believe me - word travels fast. Other clients would follow, the firm would be dying even before facing the regulatory issues that would certainly follow. LPS5