|
PureBytes Links
Trading Reference Links
|
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<HTML>
<HEAD>
<META content=text/html;charset=iso-8859-1 http-equiv=Content-Type><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<META content='"MSHTML 4.72.3110.7"' name=GENERATOR>
</HEAD>
<BODY bgColor=#ffffff>
<DIV><FONT color=#000000 size=2>group,</FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT color=#000000 size=2>I have a friend asking if I have an AdvGet
User guide 7.6 in PDF format, which I have not. So I promised to ask
around.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Does anybody know if there is one floating
around in Cyber Space?</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Regards</FONT></DIV>
<DIV><FONT color=#000000 size=2>Stig</FONT></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Sun Jun 04 15:21:23 2000
Return-Path: <listmanager@xxxxxxxxxxxxxxx>
Received: from mail.pajo.com (mail.pajo.com [216.116.96.4])
by purebytes.com (8.9.3/8.9.3) with ESMTP id IAA08091
for <neal@xxxxxxxxxxxxx>; Sun, 4 Jun 2000 08:43:17 -0700
Received: from REALTRADERS.COM ([208.179.56.198])
by mail.pajo.com (8.9.1a/8.9.0) with ESMTP id IAA24074;
Sun, 4 Jun 2000 08:46:21 -0700
Received: from imo14.mx.aol.com by realtraders.com
with SMTP (MDaemon.v3.0.3.R)
for <realtraders@xxxxxxxxxxxxxxx>; Sun, 04 Jun 2000 08:35:57 -0700
Received: from ChrisPR1@xxxxxxx
by imo14.mx.aol.com (mail_out_v27.9.) id 2.20.6c6d429 (2614)
for <realtraders@xxxxxxxxxxxxxxx>; Sun, 4 Jun 2000 11:41:29 -0400 (EDT)
From: ChrisPR1@xxxxxxx
Message-ID: <20.6c6d429.266bd2a9@xxxxxxx>
Date: Sun, 4 Jun 2000 11:41:29 EDT
Subject: [RT] Double-Counting
To: <realtraders@xxxxxxxxxxxxxxx>
MIME-Version: 1.0
Content-Type: text/plain; charset="US-ASCII"
Content-Transfer-Encoding: 7bit
X-Mailer: AOL 5.0 for Windows sub 105
X-MDaemon-Deliver-To: realtraders@xxxxxxxxxxxxxxx
X-Return-Path: ChrisPR1@xxxxxxx
X-MDRcpt-To: realtraders@xxxxxxxxxxxxxxx
Sender: listmanager@xxxxxxxxxxxxxxx
Precedence: bulk
X-MDMailing-List: realtraders@xxxxxxxxxxxxxxx
X-MDSend-Notifications-To: listmanager@xxxxxxxxxxxxxxx
Reply-To: ChrisPR1@xxxxxxx
Status: O
Double counting as I see it: It doesn't really happen because there are
actually two trades.
Scenario: Market Maker A is holding a customer limit order to buy 500 shares
of ABCD at 10 - his offer is 10 1/2 for 100 shares; hence his market is 10 -
10 1/2, 5x1.
He receives a sell order hitting his 10 bid for 500 shares - he buys 500
shares from the sell order and sells 500 shares from his original customer
order. Why does 2 500 lots print the tape and not just 1 lot of 500? - There
were actually two trades which took place, not one. Personally I would not
rely on CNBC, much less Tom Costello, for anything, but the above scenario
can potentially refute the myth of double-counting. The www.nasd.com site
has some good historical info on printing of trades but it will require a lot
of filtering out of information. Comments welcome.
Chris
In a message dated 6/3/00 4:08:45 PM Eastern Daylight Time,
kentr@xxxxxxxxxxxxxx writes:
<< Q2. I think this refers to the fact that in some cases, a single trade
can be double counted. This only occurs on the NASDAQ afaik. Tom Costello
who walks the NASDAQ wall on CNBC has said that up to 30% of the NASDAQ
trades are double counted, but I've never seen anyone explain which trades,
which stocks or why it happens. >>
|