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

To: kaz who wrote (2485)12/2/1998 10:57:00 PM
From: Rick Faurot  Read Replies (2) | Respond to of 7382
 
Paul,

A SOES order must be either at the inside ask or at the inside bid. Attempting to enter any other price will cause your order to be rejected. Max order 1000 shares. Once you make a buy on SOES, you may not buy again via SOES for five minutes. When a SOES order hits an MM, he is obligated to fill it if he has the shares. Be aware that if more than one SOES order is hitting the ask, a "queue" forms. Once an MM takes a SOES hit, he has seventeen seconds before he is required to take another one. Just a few basics on SOES.

Rick



To: kaz who wrote (2485)12/2/1998 10:59:00 PM
From: wily  Read Replies (1) | Respond to of 7382
 
>>underbidding the best bid would be a good way to get out at the best price in a falling market

I don't follow your reasoning here--could you fill it in a little?


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