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

To: John Hunt who wrote (3116)	2/20/1998 2:36:00 PM
From: steve goldman	Read Replies (3) \| Respond to of 12617

Yup! 90 Seconds. They do the print, they get 90 seconds to put it up before having to qualify it with an indication that it is out of sequence. SOES and SNET trades print automatically to tape. Its the trades that a MM's does in house, makes a market in, does on phone, etc. that they need to put up on ACT or print to the tape. I know what you were hinting at, let me clarify for those who were'nt following: Lets say I worked for ABCD firm....I get a customer order to buy SYZX stock at the market. I look at it. I see it going lower. I execute the trade at the current offer. It falls lower by an 1/8 or 1/4. I cover...I now print the customer's print to the tape at the higher offer. Not illegal, within the 90 seconds. But think what it leaves open, that a firm gets 90 seconds to print an execution to the rest of the market. Makes regulating and prevent fraud kinda tough. Regards, Steve@yamner.com yamner.com