Ted Oberhaus used to have one big headache. As director of equity trading at the $93 billion Jersey City-based Lord Abbett & Co. mutual-fund group, he typically needs to buy and sell about 7 million shares a day. Trouble is, the average-size deal on the New York Stock Exchange has fallen to just 400 shares, down from 1,477 in 1998.
As a result, if other traders get wind of what Oberhaus is up to, market prices could move swiftly against him. "We're trying to put elephant-size orders through a keyhole," says Oberhaus.
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