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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (1928)	12/6/1997 1:18:00 PM
From: songw	Respond to of 4969

The day is coming when paying for and routing order flow will be outlawed. Nasdaq will come under increasing pressure for reform with the explosion of online traders (especially by those who acquire some sense of savvy). Order flow will eventually be seen as the kickback scheme that it really is. Yes I know they disclose that they sell order flow-and no ultimately it won't work as a defense. Tobacco companies and their warning labels come to mind. The standard should and will -in time-become that each order receives the same treatment all all others.