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To: cool who wrote (34)7/28/1998 9:06:00 PM
From: SnowShredder  Read Replies (1) | Respond to of 41
 
Thanks for the response John. Is there a particular order size range that you have witnessed? Or particular conditions that causes this to occur? Thanks in advance. Best of Luck, Where'd He Go?



To: cool who wrote (34)2/27/1999 10:29:00 AM
From: Robert Graham  Read Replies (1) | Respond to of 41
 
This is a normal function of making a market. There is added risk in managing a large block transaction. This order needs to be worked over a period of time at different prices. So there is a "premium" placed on the handling of the order that is prearranged with the buyer or seller since the market maker. Since the price for the block is prearranged, the market maker is taking on this risk. What you see on tape is the final print with this "premium" which is just for book keeping purposes. This is legal and proper.

Bob Graham