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

To: TFF who wrote (1251)	11/30/2000 11:51:08 PM
From: Jon Tara	Respond to of 1426

More to the point, you won't be able to use SelectNet to go outside of the market - YOU WON'T BE ALLOWED TO. Example: inside bid is 20 x 20 1/8. For whatever reason, the stock is running up. Right now, you can hit an offer at 20 1/2, outside of the market, using SelectNet. Under the new rules, you CAN'T PLACE THAT ORDER. It has nothing to do with liability. It has to do with what kinds of orders will be accepted by SelectNet. Selectnet really has very limited uses under the new rules. You can, for example, use it to execute against non-participating ECNs.