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Strategies & Market Trends : After Hours Trading(ECN)-The Coming 24/7 Trading Explosion -- Ignore unavailable to you. Want to Upgrade?

To: brec who wrote (54)	4/11/1999 4:50:00 AM
From: Savant	Read Replies (1) \| Respond to of 314

You looked up the wrong word. You should have looked up MARKET. Websters '49..Market..A meeting of people for traffic by private purchase and sale, and, usually, not by auction. There is no mention of a 'spread'..that should be confined to something like Blue Bonnet. When I want to sell something, I should be able to sell it to an interested buyer, facilitated if necessary by a 'broker' to do the paperwork and verify that the stock is there and valid...that's it. I don't want to pay some person a 'markup' just for getting in my way. In theory, MMs are a good idea, in practice, they cheat me out of my money. Can there be a difference between the buyer's price and the seller's price? Sure, that's called haggling, bargaining, dickering, and a lot of other venerable terms. I want to do it direct. 24/7

To: brec who wrote (54)	4/11/1999 12:45:00 PM
From: X Y Zebra	Respond to of 314

Spread relates more to "willingness to take a risk".... and the reward for taking such. Price, (Market price that is)... is where buyer and seller meet, both of these, are principals of the transaction. Their willingness to "meet each other" determine such market price. The brokers, market makers, and/or specialists, are facilitators and/or representatives of the principals. Formerly, they were needed because the technology did not exist so the principals could "meet". Electronic exchanges with the new technology allow Mr. Seller, meet Ms. Buyer... if they agree on Price Therefore, exchanges were created were the above "middle men" had a protected sanctuary. While it is reasonable to become compensated for the risk taken....some, abused this environment. They did not fulfill their end of the bargain... Electronic markets make these "facilitators wannabes", either unnecessary, or obsolete. The necessary evil, is no longer necessary, because of technology. The 24 hour part is simply due to globalization, and the fact that the world is round, it rotates, creating different "sleep times" for different people. Nothing to do with "gambling addiction" or the like, at least not as a determinant factor.