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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: OldAIMGuy who wrote (4485)	4/16/1998 6:35:00 PM
From: Bruce A. Bowman	Respond to of 18928

Hi Tom- I'm not sure... been wondering the same thing. I've read that some feel that commissions could go to $0, but that leaves the door open to lousy executions and terrible spreads. A friend told me about an alternate computer-based system that's currently only available to institutional investors. Said it's a true auction system, no market makers or specialists, all action is executed by the s/w. There's no spread; just submit your bid and the sale is to the highest bidder. There's a flat fee for submitting the order and no charge associated with order flow (no one is grabbing 1/16 or 1/8 pt.). Perfect for an AIM investor using tools similar to Newport. I think he said some outfit in Scotsdale, AZ created it. In any case, losing the deep discounts would be devastating. Most don't want to remember how much we used to spend on commissions! Btw... did you notice that they tripped one of the breakers today? NYSE implemented Rule 80A which says if SPX drops more than 12 pts, they stop accepting new stop or stop-limit orders of more than 2,099 sh from private investors. The exchange won't accept any new stop/stop-limit orders from institutional investors while the rule is in effect. I was taking a hit in everything except HAVT which was +1.000 at the time. Once it triggers, it stays in effect the rest of the trading day. Bruce