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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (68178)	3/12/2001 7:49:03 AM
From: KNOXACCT	Respond to of 122087

Anthony: Thank you again so much for all of your help. Margaret

To: Anthony@Pacific who wrote (68178)	3/12/2001 7:50:04 AM
From: crozum	Read Replies (1) \| Respond to of 122087

if you did then you only need their inventories and to verify what their cost is since they cant charge moree than 5% of their cost, without disclosing it >>>> i believe that the firm cannot mark-up more than 5% above the prevailing, competitive nbbo, not the firm's cost...if the desk is long stock at 3 and the competitive market is 5 1/2 - 6, the desk is allowed to sell the stock to a customer at 6...from the $6 number it is allowed to mark up up to 5% and sometimes more in some very restrictive cases. perhaps knox was purchasing dirks 'house' products and paying the offer and being marked-up 1/8 to 1/4 above the 'reported price' to arrive at the 'customer net'...in this scenario, unless her firm was a control and dominant participant or the desk charged more than 5% without any viable reason or the desk violated some contemporaneous pricing rule, her arbitration would likely not succeed. chris