Are there any traders here that work for mutual funds or major institutions. I would be interested to hear such a person describe how their trading of stocks for their funds has changed over the last 3 or 4 years. Mainly i'm interested in how they use program trading to do their daily business. The reason i ask is when i was a day trader a 2 or 3 years back the NYSE specialist books were littered with large blocks of stock to buy and sell. And now they are mostly void of any size. So obviously you (mutual fund traders) either aren't moving stock around any more or you are breaking your orders into 500 share lots. Perhaps you have automated your trading and now just use sophisticated trading software to work your oders??