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

To: Sir Francis Drake who wrote (580)	8/17/2000 12:35:56 AM
From: underdog430	Read Replies (2) \| Respond to of 1426

Gene, I think that Morgan's questions are really interesting so I hope that you'll be responding to them. I agree that there is excessive MM bashing (we're all just trying to earn a buck) but you should keep in mind how frustrating it is trading against a MM (given the speed difference compared to an ECN). Hopefully, the implementation of SuperSOES in October (theoretically) will improve matters in this regard. Mark

To: Sir Francis Drake who wrote (580)	8/17/2000 11:18:20 PM
From: gene_the_mm	Read Replies (2) \| Respond to of 1426

MORGAN... I use the standard Level III NASDAQ interface along with a customized dual-monitor setup which uses Reuters for charts and news. We also have a T1 Internet connection which helps us when we need to check other stuff on the 'net. As you know I won't comment on the disposition or tactics of other MM's or stocks, and in this case you cover both. I will say this about Knight Trading: NITE's vision appears to be to position themselves for the third market as well as growing their OTC desk. Their are many challenges ahead for ALL MM firms, not just NITE. I personally like NITE as an MM firm and have had no problems dealing with them, and I have friends there also. Decimilization may have an initial negative impact, but I believe in the long run it will make the market better for real traders and thus MORE profitable. The regulatory changes will definitely separate the 'men from the boys', in my humble opinion. Our firm is too small to participate in the load balancing you refer to, so I have no experience with it. I know Kenny Pasternak from several STANY conventions. He is a very down-to-earth nice guy and is smart. From what I know he is loyal to his employees and treats them very fairly. Everyone I know that knows him says nice things about him so... take it for what it is worth. The MM business in general has become a business of 'risk'. The traders that are experienced and know how to handle risk will continue to do well, and the traders that are really just masked 'order clerks' will be wiped from the business as the SEC continues to make the market as level and fair as it can. The NASDAQ market will only continue to get better for the American public in my humble opinion. Sorry I cannot be more definitive but I want to avoid the grey areas as I stated in the thread header. ALSO PEOPLE PLEASE... I got a nasty PM from someone whose post I missed back on July 26th. If I miss your question will you please be kind an PM or repost the question here... I am not avoiding anyone but sometimes I get VERY VERY busy and will occasionally miss something ok? I don't expect to get anymore NASTY PM's because I haven't answered a question. Also, thanks for understanding that I do have a life other than SI and I won't always be able to answer questions EVERY day. I will, however, make the commitment to 'catch up' when I do have the time. Thanks for all the nice things that you have all said. I appreciate them. All the best, -- Gene