Will Amex trading OTC be good?

Originally posted by EricP

I would appreciate any help on the best way to hit an AMEX order. I would assume that you could place an AMEX/ISI order, but that would subject you to the corresponding long delay of manual specialist attention before anything would be done. Seems like a huge step backwards for Nasdaq stocks IMO.

-Eric
More...

To trade with AMEX your broker has to have a new connection with the AMEX. I think it is called a CMS line?? You are right that there will be slow executions, compared to ECNs and Nasdaq SuperSoes. But the AMEX hopes to make up for this by filling larger orders with a more stable price.

AMEX is not in SuperSoes and will not be in SuperMontage.
AMEX will be reflected in ADF by NASD.

~*~*~ Rake ~*~*~
 
They have done testing but will not say if they are committing to SuperMontage or not.

They have not said one way or the other for ADF, but I suspect they will not.
 
Is the Mid West Exchange the same as the CHX?

I am not sure how they fit in if they are not. Rake (the pot) is correct in the staus of the AMEX and CHX.

:)
 
> AMEX NOTICE: August 14th, 2002
>
> Temporary Suspension of Amex Trading in Nasdaq Securities
>
> After close of trading August 14th, 2002, the Amex was informed of a
> filing with the SEC of a "Notice of Intention to Petition for Review" of
> the SEC's August 2, 2002 Order approving the Amex's rules to trade Nasdaq
> securities. Under SEC rules, this notice has the effect of automatically
> staying the SEC's approval of Amex rules pending further action by the
> Commission. As a result, the Amex will not commence further trading in
> Nasdaq listed securities until the SEC takes such action. The Amex is
> currently addressing this matter with the SEC with the objective of
> quickly resolving this matter. Upon resolution of this, the Amex plans to
> recommence trading promptly. The Exchange will notify members immediately
> regarding developments affecting our resumption of trading.
>
> Please note that, as a result, all open limit orders on the book
> will be cancelled.


Jeff--
OES
 
Thank god the Amex was given a temporary order to stop trading listed stocks.

This past week I traded ESRX on a positive news story -- AMEX was siting there on the ask with huge size and no one could hit them - they held up the stock for a good 30 seconds --

Whats the deal with them showing up in the nasdaq level 2 quote - Will we be able to hit them with Super Montage ???
 
i was hitting the amex using snet and offering out on isld 1 penny higher and getting hit! even though I was averaging 3 cents per trade I was netting 2.2 cents riskless! they need to be reinstated so we can take the free money!
 
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