Subject: Nasdaq's ECN and actual size rule Date: 5/6/98 9:29 PM I would like to express my opinion on the actual size rule: 1)The ecn's presently have an unfair advantage in that Mkt Makers must buy or sell 1000 shares where an ecn can display as little as 100 shares for a supposedly customer order. I submit the ecn's are being abused much like soes by professional trader's under the guise of customer orders 2)I am also opposed to ecn's locking and crossing markets with impunity. It creates false pricing and impressions as to whether a stock is under pressure or racing to the upside. Why can they not lift or hit a stock like everyone else is required to do. Markets are sometimes crossed for several minutes in a given stock. Nasdaq's Ecn: 1)In my opinion that will just give anonymity to mkt-makers to quote size they may not be capitalized to handle-someone will be left holding the bag if a sizeable trade can not be paid for. 2)Mkt-makers sponsoring access to non-member customers is absolutly ridiculous. For a small fee by less than reputable people, under capitalized firms can have anybody making mkts in stocks. a)Sponsorship would be a total dis-service to the public at large as well as the trading community. Many unscrupulous people could easily paint pie in the sky of million's of dollars to unsuspecting and uninformed investors. 3)And finally, what about focus reports? what about compliance? backing away and the like? It seems to me there can only be harm here, not a level playing field, but, a slaughterhouse for the ignorant and big paydays for the greedy. Sincerely, Bill Wheelen