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To: Rob W who wrote (540)5/3/1999 10:53:00 PM
From: Zeev Hed  Read Replies (5) | Respond to of 4443
 
Bob, thanks for the reference, interesting indeed. If I understood this is a one year pilot plan, I have not seen there where the number of 20 MM shares daily and the charge of $.03/share come in. Do you happen to have a source for that derivation? That will be a big chunk of the total volume of the PHLX and about 2.5 % of the total NYSE volume. Since they are going to use only 300 of the most liquid NYSE stocks, in those stocks that volume will probably be some 5% to 10% of the NYSE volume in these 300 stocks, if not more. You think that the NYSE will let that much volume go to the PHLX?

Zeev