Transparency and Bypass in Electronic Financial
... to pay the most for the shares. When investor orders are not sufficient to maintain "a fair and orderly" market, the specialist will trade as a principal from his or her own inventory. In 1978, the Consolidated Quotation System (CQS) began to provide a screen display of the bid and offer quotes on t ...
... to pay the most for the shares. When investor orders are not sufficient to maintain "a fair and orderly" market, the specialist will trade as a principal from his or her own inventory. In 1978, the Consolidated Quotation System (CQS) began to provide a screen display of the bid and offer quotes on t ...