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

To: Colin Cody who wrote (3340)	7/1/1998 2:47:00 PM
From: steve goldman	Respond to of 4969

Colin, Welcome to the new Manning Rules. They came in effect about a year ago, maybe more. Check the NASDR.com or nasd.com and do a search for manning rules. There are a few issues, 1) a mm has 30/90 secs to try and make a market and present your bid offer, often an eternity in the current marketplace, it doesnt apply to certain size pieces or dollar amounts etc. You also want to make sure you can cancel your bid and take the offer instantly if the market so deems. I'd love to go into greater detail but there is so much to it . (as well, I am on vacation this week in Vermont and having a great time I must add). Check out the nasdr and nasd web sites, look for manning rules and then we can discuss specifics next week. Regards, Steve