What actually happens at the LRP? Is trading halted? Or can trades still take place at the LRP price?
Hatred of the NYSE
- Thread starter eagle488
- Start date
What actually happens at the LRP? Is trading halted? Or can trades still take place at the LRP price?
Speaking of backing away, look at this.
http://www.thememoryhole.org/corp/finance/sec_amex_report.htm
Option specialists have *hundreds of thousands* of securities violations. There is a complaint, regarding these option specialists, that's been in court for a few years, and it's mostly "flown under the radar." It's called Last Atlantis Capital v. Chicago Board Options Exchange (CBOE). Option specialists identified certain public customers on the floor order-processing machinery (as if that's necessary - the BOX options exchange is fully anonymous), and have deliberately mishandled their orders - which only attempt to transact with the specialist's disseminated price! (See the "Memory Hole" link).
Your link, given above, is appreciated, now that specialists are eligible for criminal prosecutions. All those with knowledge of the Last Atlantis v. CBOE events are eligible for jail time. Prosecutors are getting tougher on specialist violations. They are in a position where they are trusted to lawfully complete their duties. The NYSE specialists were eligible for 20 years in prison - but they pleaded it all the way down to about 4 years in jail.
Quote from JMartinez:
Doubt it. Once the new dawn of "Reg NMS" comes out. LRP's will be useless. Play ball or get run over by the big boys!!!!!! LOL .
The point of the Hybrid was to hold off Reg NMS. So the NYSE scum have succeeded in that sense, they bought themselves a couple more years.
Yup. That's what the LRPs are for.
Reg NMS is arriving regardless of what NYSE calls their market. "When electronic play ball, when non-electronic let the big boy's play!"
In a simple sense it is what will happen when Reg NMS comes out and NYSE goes manual. If their thumb is up their *ss, people will and can trade through them. Most likely it will be computers/algos trading through them.
Hybrid is a pretty good method from NYSE to do something that nasdaq/ECN's are lacking now. Creating liquidity and posting liquidity vs. posting liquidity only.
This does not make much sense to me.
The Specialists feed off the most liquid stocks...
Exactly the ones where there is only ONE reason on earth to "create liquidity"...
And that is to SKIM MONEY via their elaborate Rackets.
If the field is really level...
And the NYSE cannot find a way to ** circumvent the intent ** of Reg NMS...
Then the entire concept of a "liquidity center" disappears...
And the entire market universe becomes One Big Liquidity Center.
This is a Quant's Wet Dream.
Thinly veiled skimming operations disguised as "services" provided by the NYSE racketeers...
Should l not reverse the flow of market share away from the "Big Board".
But I must be wrong...
Because based on NYX vs NDAQ stock action...
Over last 3 months NYX up 80% versus NDAQ up 40%...
So smart money on both as a de facto DUOPOLY...
But smart money also says NYSE will easily game the system...
Like taking candy from a little baby.
http://finance.yahoo.com/q/bc?t=3m&s=NYX&l=on&z=m&q=l&c=ndaq
Nicely phrased.