Nasdaq/OTCBB Securities To Trade in Decimals on March 26, 2001

Discussion in 'Trading' started by Tradewinds, Mar 25, 2001.

  1. Tradewinds

    Tradewinds

    In preparation for the March 26, 2001 decimal pilot, Nasdaq would like to remind firms that the following 214 securities will be quoting and trading in decimals on that date (15 of which were phased in starting March 12, 2001). Please note that the pilot date is specified for each respective security.

    While the companies below have been chosen to participate in the pilot, please note that there is a possibility that securities could be removed from this pilot. If that were to occur, they would not be replaced. In the event of a change in a security’s name or symbol, the security would remain in the pilot. Nasdaq believes that the possibility of such changes is minimal.

    Full list is here:

    http://www.nasdaqtrader.com/trader/hottopics/0326list.rtf

    Some major stocks that will be trading in decimals on 3-26-01 are:
    ADBE, AMZN, AAPL, AVNX, BRCM, CMVT, INCY, JNPR, NUFO, ORCL, PMCS, SEBL, SUNW, VRTS
     
    #1     Mar 25, 2001
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  2. praetorian2

    praetorian2

    Nasdaq is going to regret this. As it is, you can trade in decimals on island. But they need the mm's to trade in fractions to provide stability. That way you know that your snet and soes at certain prices have more than one liable mm as they all line up together. In the decimal names so far, the mm's just pull back a cent if you snet them.
     
    #2     Mar 25, 2001
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  3. Eastboy

    Eastboy

    What is new? They don't know what these MMs do in real-life trading on the L2. I have removed MM's quotes on my L2, I just trade ECNs and if the spread or liquidity is not good enough, I go to another stock that fits my requirements, otherwise I don't trade at all.

    Do you just think MMs moving away by a cent may be a nasty tactic, how about when they jam up your L2 screen so you can't find any ECNs because they fall away to the bottom of your scroll L2 window?

    MMs make my blood boil. I hope when they implement SuperSOES Montage, they won't make things worse.

    I welcome the $25000 min for 'daytrading' as defined by SEC and the increase of margin from 2to1 to 4to1.

    And I hope ECNs remain with us because they are the ones who are leveling the playing field for main streeters like us. Like the price? CLick it and you get it in an instant.
     
    #3     Mar 26, 2001
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