CMKM Diamonds Inc. (fka CMKX)

[DiamondTrader1]

Gump, the problem is worse on the ECNs...

monumental debate now at the NYSE to go entirly electronic and eliminate the trading floor. At least if it happens it will also be the death knell to those filthy rotten despicable market makers.

It basically allows anyone with a "pass" to act like a market maker, anonymously, to the trading system. Without modification to current shortselling exemptions, it won't matter if there is a floor or not. If anything, the ECNs give the manipulators greater leverage and more anonymity. Shorty can simply morph into another form through the ECN. This is bad news.

The only brightside in all this is the NASD finally taking steps to amend 3360 and mandate shortsale interest disclosure to OTC/PK stocks. Let's see how many market makers comment on this rule change...lol.

There is still plenty of work to be done before the markets can even be considered safe. Remember what that lady from the DTCC said at the end of the NASAA conference?