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Non-Tech : Web Street Securities (WEBS) -- Ignore unavailable to you. Want to Upgrade?

To: Slaran who wrote (92)	11/16/1997 10:55:00 PM
From: Esteban	Read Replies (1) \| Respond to of 1339

Slaran, It is a market maker thing, not a broker thing. I can't quote you chapter and verse, but if an MM is on the inside bid or ask, he has an obligation to buy/sell at least 100 shares at that price through the SOES system if there are SOES orders. He can fill one order, then pull and it's legal. So if you hit him for an order, he sees your order and pulls his bid or ask without filling you or anyone, that's backing away and is illegal. Other things that may have happened that are not illegal is that your broker didn't submit your order before he pulled, or he filled another order that fullfilled his obligation. Esteban