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

To: Wayners who wrote (8641)	1/18/2001 9:15:57 PM
From: LPS5	Respond to of 12617

Good point - the number of trades. I expect a slight increase in volume due to mostly retail clean-ups (more partial fills resulting from smaller posted sizes) and all sorts of trader 'testing'...but yes - the oft mentioned technology issue is the immediate explosion in the number of executions, not total shares executed. When we went from 1/8ths to 1/16ths, the avg. trade size on Nasdaq went from about 1100 shares to about 650. While the implication (on a straight-line basis) is that at pennies the average execution size would be less than a round lot, that is unlikely IMHO - it's not practical. But an average execution size of, say, 110 or 150 shares, within two years of the arrival of one cent increments? I'd bet on it. LPS5