I left the floor over six years ago but it is my understanding that stop orders are still on the book. How is the Specialist supposed to execute your order if they don't know it there? In addition, if one is going to argue for the benefits of an auction market, and the oppurtunity for price improvement orders need to be disclosed. How would you better and more fairly handle the situations below? say you have a sell stop 10M shares at 40... 1. 40 bid for 5M seller comes in with 40M for sale? 2. 40 bid for 5M seller comes in with 200 for sale? NO bids below Give me a fair resolution? You want your order to just pop up after it is elected? or do you want to be guaranteed the first trade after you are elected? This one is pretty obvious to me. I do think however that many here are more familiar with other products but I really don't recall seeing many non-retail stop orders. I am almost certain I never saw a buy-stop that was greater than 1M shares.