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SOES |
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Dubbed SOES bandits, these pioneering day traders were adept at using Nasdaq's Small Order Execution System (SOES) to seize arbitrage profits from the market makers. Small investors, spooked by their inability to get their brokers on the phone on the day of the crash, gained automatic access to the market through the Small Order Execution System. They would work under the Nasdaq Small Order Execution System, which was started after the 1987 crash when small investors complained that they were unable to dump their stock quickly. |
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