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To: Geoff Nunn who wrote (27)	8/3/1998 4:24:00 PM
From: On the QT	Respond to of 335

Hi Jbn3 and Geoff Good post and question. Here is what I have culled out that may help others on this thread: "All Market Makers must register and be a member of NASD". "As Market Makers, firms must meet special capital requirements related to the number of securities in which they make markets. "Register Market Makers can use with permission, ' Non Registered Market Makers' to assist under their "umbrella" in the making of markets". "While Market Makers must register to "make a market in (buy or sell) a specific company's stock, there is no limit on the number of Market Makers that can represent the stock of a single company. In fact, some of NASDAQ's largest companies have more than 60 Market Makers, and there are, on average, 10 Market Makers for every NASDAQ- listed security." "There are two important features that distinguish The NASDAQ Stock market from a traditional exchange: its competing Market Makers and its advanced technologies. 1-(It is)"Competition among NASDAQ Market Makers that sets them apart from single- exchange specialists". 2-Also, in an electronic age, it is no longer necessary for people to meet face-to-face on a trading floor to trade securities. Today's technology enables NASDAQ Market Makers to trade from around the world". Like this thread. Regards, QT