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Strategies & Market Trends : Level II Trading -- Ignore unavailable to you. Want to Upgrade?

To: DRRISK who wrote (360)	3/11/1998 10:22:00 AM
From: David A. Irvine	Respond to of 1086

Hello everyone, I have been trading for a while and I am interested in getting into trading using SOES. I have read many articles, etc., but I was wondering if there is a book or something that will basically train you how to do it. Can anyone help me start using SOES? Any recommendations? Thank you in advance. Cheers, Dave P.S. Please send me personal email so I don't clutter up this thread any more than I already have.

To: DRRISK who wrote (360)	3/12/1998 3:02:00 PM
From: ursidaey71	Respond to of 1086

I just wanted to mention a few things about the time constraints mm's are held to when they are soes'ed out. First off, if they are bidding 1000 shares and receive selectnet orders, shares from those orders are not deducted from the 1000. However if they are sent a soes order and lock in at the bid price they are buying at, they have 17 seconds with which to pull they bid or update the share count. Once they are completely soes'ed out of an issue, they have 5 minutes to repost a new bid or offer on the stock, or they are subject to a 20 day suspension on that issue. I am pretty sure about that last point, but someone may want to double-check that. I found most of this info on the www.nasdaqtrader.com site in the trader manual. Very informative. cya, eric