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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: Gordon Gekko who wrote (17532)	4/8/1999 5:56:00 AM
From: Tom Gordon	Read Replies (2) \| Respond to of 37507

Trading in Berlin @5:52am=$29.12

To: Gordon Gekko who wrote (17532)	4/8/1999 6:59:00 AM
From: JKNF	Respond to of 37507

Gordon You can sell your shares on either Toronto or Nasdaq, it doesn't matter the price will be the same. The arbitragers will take care of that. It will be up to you to tell your broker where you want to sell the stock. John

To: Gordon Gekko who wrote (17532)	4/8/1999 7:18:00 AM
From: John Sladek	Respond to of 37507

Gordon, Does anyone know for sure that individual investors won't be able to trade their TSE shares on the NASDAQ once that listing starts? There is only one type of share - they can be traded on any exchange where they are listed. Is there any doubt that the Nasdaq and the U.S. investors will take the lead in the future direction of BII (good and bad)? I think it is a fairly reasonable bet that they will. I don't think that it is by any means certain that U.S. investors are going to take a shining for this stock. Its Canadian, there was no IPO in the states, so no broker hype in the US of A. If the above is correct then will it really matter what the trading pattern and volume is on the TSE? The prices on the TSE would have to be consistent with NASDAQ because of a possible arbitrage situation. This is the big question. First, there are hundreds of TSE/NYSE or TSE/NASDAQ (or TSE/ME, TSE/ASE)Interlisted stocks, and they usually tend to track each other closely due to arbitrage. The exchange that sets the pace is the exchange where the volume is. NASDAQ might take over at some time, but since most of the BII shares are in the hands of Canadians the TSE will set the price. The promise of higher prices due to a NASDAQ listing seems to be a "bigger suckers" type argument. There is no guarantee that the Americans will turn out to be the bigger suckers, or take a liking to this stock. The only possible problem I see with my scenario is if the market makers are the same on both exchanges. This would allow them to freely shift shares around which would effect the prices on both exchanges. The market makers in the USA will be different from those making the market in Canada. The TSE is a type of market on the TSE than the NASDAQ. Regards, John Sladek