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To: Ga Bard who wrote (5757)3/19/1998 11:06:00 AM
From: Rashid Garuba  Read Replies (1) | Respond to of 8835
 
GaBard,

Time to wake up!

Which system do you think will be adopted once AMEX and NASDAQ become one?? I sure wish the AMEX system rules. Imagine life without MM's!! The current NASD system sure complicates trading.

At best, I think a hybrid system will be adopted. NASD should use the merger as an opportunity to finally answer the complaints of the small investor regarding MM behavior.

Case in point. BANY was recently recommended by an EM service. The MM's basically sat for a few minutes not filling orders as they had little inventory and no sells to help. The company has complained and still the MM's routinely are very slow to fill buy orders.

MM's will likely push hard to leave things as is. Thoughts??

Rashid