specialists are not going away yet

Quote from vhehn:

14:02 ET NYSE Interim Chairman says Exchange will remain specialist-biased
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I think its out of his hands. But then again, what did you expect Reed to say? :D

They can keep the specialist system, as long as the ecns are on an even playing field and instant execution is required - the structure of the NYSE is irrelevant.
 
i find it comical every time i see nichols of instinet on there complaining about manipulation and specialist abuses, when on the instinet commercial itself, there is a guy working a large buy order, and he says "alright, i'm going to try to bring it in now." not hypocritical at all.

i never understood his argument either. you can post ECN bids and offers all day long as it is.
 
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