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Non-Tech : CYBERTRADER -- Ignore unavailable to you. Want to Upgrade?

To: GT who wrote (1396)	9/22/1998 3:31:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 3216

Gordon, Absolutely ECNs help in that area as their routing/execution issues are completely different. MM auto executes are part of the payment-for-order-flow environment. Near the end of my time with Brown, i spoke with one of their floor people. He said "all" the MMs had agreed to this move to manual in July for "fast" markets. It happened to coincide with the market top. That could get the conspiratorial juices flowing, couldn't it? I've seen an explosion of complaints since that time. Fortunately the financial media will continue to keep an eye on this. Traders and investors deserve better executions now than 10 years ago. And there is no reason why ALL of them shouldn't be instantaneous in our computerized world. But the MMs won't change unless they are exposed. Alan