Voodoo posted this link under Rule Changes but I thought more people would see and discuss it in the main Trading forum: http://nasdaqtrader.com/trader/news/2001/headtraderalerts/hta2001-158.stm Quite simply, in a matter of months they are already eliminating one of the main benefits of SuperSOES, that a market-maker had to post a 1000-share display if they were going to use reserve size. In other words, if they were going to hide their true size, they had to post at least 1000 in Level 2. After Nov 1 they will now be able to only post 100-share size (just like they could with SOES), and still hide a reserve of whatever size they want. Damn, screwed again. NasdaqÂ® has filed a rule proposal with the Securities and Exchange Commission (SEC) to eliminate the 1000-share display requirement when using SuperSoesSM reserve size. Nasdaq expects to implement the rule change effective Thursday, November 1, 2001. The proposed rule change eliminates the current requirement that a quoting market participant display 1000 shares when using Nasdaqâs reserve size feature. Effective November 1, 2001, SuperSoes participants will only be required to display a minimum of 100 shares, or 1 round lot, when using the reserve size feature. ...Formerly, the rule required that the refresh increment be set to at least 1,000 shares (10 round lots). Effective November 1, 2001, the minimum value for refresh increment will be 100 shares, or 1 round lot.