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A Trading Desk’s View of Market QualityView from an ECN

A Trading Desk’s View of Market Quality: View from an ECN CHAPTER 4: VIEW FROM AN ECN Joel Steinmetz An old couple is having trouble remembering things, so they visit a doctor. The doctor tells them, ‘It is really nothing, everything is OK, but maybe you ought to write things down so you will be sure to remember them.’ The couple goes home. Sitting later in their den watching TV, the wife gets up to go to the kitchen. She says to her husband, ‘Can I get you anything?’ He says, ‘I’d like some ice cream with whipped cream on top.’ She says, ‘No problem,’ He says, ‘Let’s try what the doctor suggested and write it down.’ She says, ‘No, no. Ice cream and whipped cream. I got it. Don’t worry about it.’ She gets closer to the doorway. He says, ‘You know what? I would like some ice cream with whipped cream and hot fudge, but I think you ought to write it down like the doctor said.’ She says, ‘Don’t worry about it. Ice cream, whipped cream and hot fudge, a classic. I got it, don’t worry.’ She goes into the kitchen and comes out a few minutes later with a toasted English muffin. He says, ‘A toasted http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Trading Desk’s View of Market QualityView from an ECN

Part of the Zicklin School of Business Financial Markets Conference Series Baruch College Book Series
Editors: Schwartz, Robert A.; Byrne, John Aidan; Colaninno, Antoinette
Steinmetz, Joel
Springer Journals — Jan 1, 2005
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7 pages

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Publisher
Springer US
Copyright
© Kluwer Academic Publishers Boston 2005
ISBN
978-1-4020-7510-0
Pages
81 –88
DOI
10.1007/0-387-23114-5_4
Publisher site
See Chapter on Publisher Site

Abstract

CHAPTER 4: VIEW FROM AN ECN Joel Steinmetz An old couple is having trouble remembering things, so they visit a doctor. The doctor tells them, ‘It is really nothing, everything is OK, but maybe you ought to write things down so you will be sure to remember them.’ The couple goes home. Sitting later in their den watching TV, the wife gets up to go to the kitchen. She says to her husband, ‘Can I get you anything?’ He says, ‘I’d like some ice cream with whipped cream on top.’ She says, ‘No problem,’ He says, ‘Let’s try what the doctor suggested and write it down.’ She says, ‘No, no. Ice cream and whipped cream. I got it. Don’t worry about it.’ She gets closer to the doorway. He says, ‘You know what? I would like some ice cream with whipped cream and hot fudge, but I think you ought to write it down like the doctor said.’ She says, ‘Don’t worry about it. Ice cream, whipped cream and hot fudge, a classic. I got it, don’t worry.’ She goes into the kitchen and comes out a few minutes later with a toasted English muffin. He says, ‘A toasted

Published: Jan 1, 2005

Keywords: Institutional Investor; Limit Order; Retail Investor; Market Quality; Order Flow

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