|Moderated By: Mike Haaren -- (Not Moderated) -- Started: 6/17/1996 2:33:00 PM Revision History|
I would like to exchange news on the progress of NAQcess and other proposed changes to the Nasdaq system that would impact the individual trader/investor.
FYI, for example, I've heard that the SEC has pretty much accepted the proposal that, under NAQcess, market makers be given 15 seconds to back away from their quotes before taking a trade. (If you daytraders think the system is slippery now, wait till you get a taste of this.) Can anyone corroborate this?
My own opinion is that market makers/specialists are a self-serving anachronism that should be eliminated entirely, with all trades handled by computer.
I'll research NAQCESS and similar issues further and post what I find.
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