Fee jump could dampen US trading tactics, volume

[seasideheights]

http://www.reuters.com/article/reutersEdge/idUSTRE52N4M020090324

 

[MandelbrotSet]

Good post, thanks for the info.

It's to be expected that with everyone else pleading poverty and claiming that they aren't making enough money that the SEC would want to get in on the party.

 

[jnorty]

Based on my last 5 months this new fee increase is around $8k a month to me so its a huge tax.No way in hell the transaction tax ever passes. Hell this is a transaction tax

 

[trendy]

Quote from jnorty:

Based on my last 5 months this new fee increase is around $8k a month to me so its a huge tax.No way in hell the transaction tax ever passes. Hell this is a transaction tax

So, you are doing $400,000,000 in stock transactions per month?

 

[jnorty]

Yes the last 5 months i've averaged around 500-700k shares a day and lot of that vol is expensive stocks like apple and the spy's

 

[stock777]

Quote from jnorty:

Yes the last 5 months i've averaged around 500-700k shares a day and lot of that vol is expensive stocks like apple and the spy's

What arent you trading futures

 

[Sky123987]

Quote from jnorty:

Yes the last 5 months i've averaged around 500-700k shares a day and lot of that vol is expensive stocks like apple and the spy's

I'm ~ 99.9% sure you are FOS (full of shit)

 

[Sky123987]

they really are f'ing high frequency traders. If the average stock is $40 stock, that means round trip you are paying an extra dime for every 100 shares.


that adds up fast

 

[elguapo]

Quote from Sky123987:

I'm ~ 99.9% sure you are FOS (full of shit)

thats not even that much for someone manually spreading spy let alone automating another tactic for spy calm down.

 

[FortuneTeller]

"Meanwhile, U.S. Rep. Peter DeFazio's proposal for a 0.25 percent tax on all transactions has gained little traction in Washington."

I hope it stays this way.