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

To: Dan Duchardt who wrote (1118)	9/27/2000 11:18:47 PM
From: LPS5	Respond to of 1426

There are none, unless (a) the firm decided to actually take ownership of the shares and (b) the block made up enough of a percentage of the outstanding shares (I know there's one at 10%, and I believe there's one at 5%, too - Gene?) to trigger a statutory reporting requirement with the SEC. I've never once heard of a firm accepting a distribution large enough to trigger a reporting requirement and then deciding to keep it. The goal is to cross it, find (an)other buyer(s), feed it into the market, etc: whatever it takes to keep the block moving once it lands in your inventory and you're exposed to it. Plus, the institutional customers delivering an order of such size might be annoyed to find out that, essentially, the desk they entrusted effectively traded against them. LPS5