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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Electric who wrote (11490)	7/9/1998 1:04:00 AM
From: Lee Lichterman III	Respond to of 42787

I found the article but it doesn't give a date of when it will go into effect. Any one know? It will be fun reseting all my charts. dailynews.yahoo.com NEW YORK (Reuters) - The Nasdaq Stock Market is set to change the way it counts some of its trades, the Wall Street Journal reported Tuesday. For decades, Nasdaq has defended its trade-counting practices and recently said it has overtaken the New York Stock Exchange as the busiest U.S. stock market, based on daily volume. In a shift from longstanding policy, the National Association of Securities Dealers, Nasdaq's self-regulatory parent, recently unanimously approved a proposal to reduce "double-counting" of so-called riskless principal trades. In these transactions, NASD brokers match investors' buy and sell orders without actually risking their own capital. The proposal most likely will affect counting for 2 percent to 10 percent of Nasdaq's annual trading volume, which last year totaled 163.9 billion shares, or an average 647.8 million shares a day, the paper reported. Currently an order to buy one share of a Nasdaq-traded stock results in two trades being recorded: The broker handling the transaction first buys the requested share from someone who owns it, then resells it to the new buyer. That's different from the way the New York Stock Exchange counts its trading volume, where a buy order usually generates only one recorded trade. >> Electric, Sonki, Don't you guys sleep either??