Fifteen Years After the Order Handling Rules, How Do the Markets Look Today?

This panel fits well with the splendid presentation earlier this morning by Richard Lindsey. It will take us back to the groundbreaking Order Handling Rules introduced in 1997. Which reminds me of a famous meeting Rich helmed on Wall Street in lower Manhattan in 1996. It was in the auditorium of a big hotel, and it occurred right before the Order Handling Rules were enacted. I didn’t see any armed guards in the hotel lobby, despite the outrage among some market practitioners present about the proposed rules! In fact, I was the only one to defend Rich in a room full of a couple hundred angry NASDAQ market makers!