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To: CanynGirl who wrote (6664)3/9/1999 7:54:00 PM
From: RobbRacer  Read Replies (1) | Respond to of 12617
 
Canyon Girl,
I just read your post and found it very interesting if true. But from what I understand about how block sales work I'm not sure if you are incorrectly assuming some things. It is my understanding if a block sale of size is to occur the firm handling the sale would "place" those blocks with only a handful of other firms who express an interest in buying it. Typically a block of 200,000 shares of a hot internet stock would only take a couple of calls. the stock would then be DTC'd to the buying firm or DVP'd (delivery vs. Payment) and the transaction would be complete. Because of the size of the tranaction and the manner in which it was delivered, this trade would not be reported to the tape and thus not broken up into 200 share lots as you suggest. You can probably confirm this with steve goldman. He would have knowledge of this I'm sure.
Rob



To: CanynGirl who wrote (6664)3/9/1999 11:50:00 PM
From: Geigartt  Read Replies (1) | Respond to of 12617
 
Canyun:

RE The street.com articles which are part of the "premium" service.

It's probably not worth the bother now, but next time you reference a premium site, could you cut&paste enough for us non subscribers to benefit? I assume this is possible because Shafik (sp) ref'ed the same site in a later post and posted parts of the article. Thanks.



To: CanynGirl who wrote (6664)3/13/1999 6:06:00 PM
From: TFF  Read Replies (1) | Respond to of 12617
 
CG: That was a good summary piece. There the guy is complaining about the little ECN traders ruining the market's liquidity and he doesn't realize that the little ECN traders just moved his block. Not to mention the fact that H&Q had to use an ECN itself to fill the orders!

If he thinks Market makers would stick around to take a block off his hands without dropping the bid when bad news hits the tape he must be dreaming.