sounds like the complaint is not you must show your full hand - its if you have orders in the system they should be visible. if you want to hide 100k shares behind 100 dont put the order in for 100k.
Hi roberk, I understand your concern. But isn't this exactly the reason we have created the SEC for so that everybody has access to the same information. It's your right not wanting: "... so that every buyer in the market knew exactly what I wanted". However it's not your right wanting the exchanges to do this hiding for you and keeping others out on it. Be good, nononsense
I have no love for MM's, Rod, believe me. But I can't agree with you that MM's should be forced to display 100000 shares if that is their true intention. That's part of the game. If you were playing 5 card poker, with two, one card draws, and were dealt three aces, would you bet 20 times the average bet before your first draw? No, you'd bet small, to keep the other players in the game. Its the same thing, imo. I've just finally given up trading ETF's because with Specialists involved, its not a fair game. I'm now back to trading Nasdaq stocks only. I think that's a fairer playing field except for one thing - the large block trades that occur MM to MM, that don't have to be immediately (or ever?) reported. Maybe that's a necessary lack of transparency, but still, its trading activity that not all can see in real time. davez