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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (16130)	11/18/2004 10:10:37 AM
From: Knighty Tin	Respond to of 116555

Mish, Trade Through Rule (should be anti-Trade Through Rule) requires use of the National Market System's best price. You will sell at the highest bid at competitive markets and buy at the lowest offer. So, if your order is routed to the NYSE, you may get a fill on the Pacific or Philly if they have the better price. Nasdaq doesn't do that. De Minimus is an opt out from the Trade Through Rule for a minimum amount of difference. Basically, it's "We won't steal quarters any more, but we still want to steal pennies." The NYSE says no way. The Nasdaq says, "Nudge, nudge, wink, wink." And all this time I thought de minimus was when a woman on The French Riviera wore the bottom of her bikini to the beach, but not the top. It turns out that is Le minimum. Except in Brooklyn and parts of New Jersey. <G>