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In sum, the SEC found that the pricing convention, the size convention, the disincentive against narrowing the spread, the attendant enforcement mechanisms, and the availability of nonpublic trading systems for market makers resulted in a fragmented market for Nasdaq stocks. Moreover, the SEC concluded that investors were often confronted by artificially wide, inflexible spreads, and frequently could not transact in the markets at the best prices. Attempts by dissident market makers to compete on the basis of price were in a number of instances met with hostility and harassment. |
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Operating a stock market is a sacred public trust. This trust was undermined by the activities of the market makers who ruled the NASD's important committees and the directors and officials at the NASD. |
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I have told you what your broker won't tell you. You have eaten from the tree of knowledge and are no longer the "informationless" customer the industry wants you to be. The DAET Garden of Eden still exists and you are welcome to enjoy all its bounty. If you are enticed, you may continue your further education in many ways as you cast your votes for greater investor and trading prosperity by using DAET for further personal gain. |
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DAET is the story of a struggle against the privileged few who were in a position to benefit from the market environment. The public was the only winner in the battle to implement positive change on Nasdaq. No decorations or awards were given to me, to the traders of my firm, or to All-Tech. |
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DAET stands for equality based upon merit in which every qualified DAET trader could join the first-class trading club |
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