Discussion in 'Feedback' started by bungrider, Sep 24, 2002.

  1. Baron,

    I'm sure this has been suggested before, and I remember RTharp starting a thread about A$$hole Specialists, but I'm wondering if it would be possible for ET to create a feedback section (much like the software feedback section) for NYSE specialists.

    As the SEC (not to mention DOT services) doesn't seem to give a rat's a$$ about whether or not specialists honor their posted markets, it might be interesting for us to create a database for maybe the 10 largest cap NYSE issues, and allow members to post feedback about these specialists.

    Should it work, you might extend the list eventually to cover more tickers...

    We might have a layout similar to the software feedback section (I think it's a waste of space to allow comments) with maybe 3 - 5 rating fields.

    These are some things that come to mind-

    1)Honor posted markets (does he post a bid and yank it away when you try to hit it)
    2)Excessive manipulation of stock price (does he move the stock $1.00 on 500sh?)

    Obviously we couldn't have fields that reference things that might be done by other traders, i.e. moving size bids to move (read: manipulate) price, but we could have something like:

    3)Average spread (choices would be less than 5c, 10c, 25c, 50c)
    4)Posting a size bid, and then cancelling it if the market comes back to him...obviously you'd only know this if he cancelled that bid after you tried to hit it
    5)Excessive stepping in front of limit orders
    6)Excessive spreading up of mkt orders

    I think it also might be wise during a pilot phase to limit posting ability to Senior members, to prevent idiots with multiple ID's like FPC from screwing the whole thing up. :D

    Just some ideas...