Hatred of the NYSE

Quote from HoundDogOne:

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
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You are wrong there. It is the NYSE's wet dream to trade the less liquid stocks. They will rape and pillage those stocks because they can. History does repeat itself. You will pay for liquidity!

Ask Nasdaq when the class action lawsuit happened 10 yrs ago and market makers stopped making markets and Herzog decided to make markets in all stocks. Yes, all those stocks that are thin too. If you wanted some size you only had one or two places to do it at. They made so much money they bailed and formed Knight. Do you think the money came from trading Microsoft???? LOL!!!!!

:D

And if you still can't figure it out, you don't even need a market maker for Microsoft. ECN's will do fine = NYSE will make bank off small/mid cap stocks.
 
The real question here is .....



The NYSE is a BUSINESS..... which means a product is formed and sold for more than it costs...

Thus what are the products...

.......................................................................

The Stock NYX........

........................................................................

Data..................

........................................................................

Electronically Positioning the stock price such that an electronic middleman is actually present but not present...AND SELLING THE LEGAL NOTION THAT IT IS NOT PRESENT....THE NEW NYSE PSEUDO ECN.....

........................................................................

Lisiting and other regulatory fees............

.......................................................................

Souvenirs.................

........................................................................


The pure electronic marketplace that NASDAQ represents certainly
has a nice ring to it...albeit the marketmakers create stocks as their products...and form system games in terms of the electronic order entry system...ALL LEGAL OF COURSE...

..................................................................................................

The fact is that as long as stocks are products that are transacted ...there will always be a VIG TO THE VENDOR....
otherwise there is no business....no business...no exchange...


What will narrow the vig....is volume.....

.............................................................................................

On the other hand....why not the GOOG model applied to stock transactions ? Then it may be possible to actually have the most efficient trade possible on a truly electronic exchange...........
 
i hate the slippage on nyse; often i cant get out at the price i want, have to keep movin' my order to get a fill...it's costin' me a lot of money. nevermind the no fills on hot stocks at the open when the ask is locked. there's a way around it, with mkt orders but again slippage is horrendous and u cant make a case for large supply/demand imbalance cuz on naz doesnt happen. some1 is messin' around and u know who hes. still, nyse is a nice mkt, trendy and very thick. surely easier to make money on it than naz...much more orderly mkt.
 
Quote from JMartinez:

The only thing is they are the only ones with balls big enough to skim it. No other players have figured it out. Therebye pricing off the primary market. That is the reason that NYSE has a bigger advantage over Nasdaq/ECN/Regionals.
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No. The advantage possessed by NYSE does not come from having the biggest balls, or from having superior understanding of the market. The advantage is that NYSE is a monopoly protected by various laws operating in its favor, and enabling its parasitic role. Take away the government's protection, and then the NYSE would be unable to continue in its present form.
 
Quote from jimrockford:

No. The advantage possessed by NYSE does not come from having the biggest balls, or from having superior understanding of the market. The advantage is that NYSE is a monopoly protected by various laws operating in its favor, and enabling its parasitic role. Take away the government's protection, and then the NYSE would be unable to continue in its present form.
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Taking any market order, any size, any time is not big balls?

Taking a position against any order is not big balls?


I have never seen any market maker(Knight, Madoff, ect..) do that before on falling markets, or 1X1 markets.

Those guys are quoting off NY. If they had balls, they wouldn't be pricing off NY, instead they'd be making their own prices. Auto-x ing 100 of NY's 1 quote and dotting the rest is not making a market IMO. LOL


You might not get the best price for your oder but your objective of buying or selling was met (your risk eliminated).

They don't work for free. Do you???

They charge for making liquidity. Why wouldn't they??

Pop off 5k order to a market maker trading a listed stock that trades less 500k day and see what happens. You see how big their balls are if you don't believe me. LOL :D
 
Try it on a thin listed stock too and see what happens.. Stock gaps a point away, fills your order, then comes back...
 
Quote from JMartinez:

Taking any market order, any size, any time is not big balls?

Taking a position against any order is not big balls?


I have never seen any market maker(Knight, Madoff, ect..) do that before on falling markets, or 1X1 markets.

Those guys are quoting off NY. If they had balls, they wouldn't be pricing off NY, instead they'd be making their own prices. Auto-x ing 100 of NY's 1 quote and dotting the rest is not making a market IMO. LOL


You might not get the best price for your oder but your objective of buying or selling was met (your risk eliminated).

They don't work for free. Do you???

They charge for making liquidity. Why wouldn't they??

Pop off 5k order to a market maker trading a listed stock that trades less 500k day and see what happens. You see how big their balls are if you don't believe me. LOL :D
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You REALLY don't understand.
 
Quote from B1010:

"BIG BALLS" is definately the WRONG term that should be used when describing the specialists.
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It is when there is nobody else willing to take on the risk.

When you are in that position then you can fill orders 1 dollar down if you want. Why wouldn't you???

I say big balls because they don't know how much ammo is behind the order especially through DOT. Similar to poker.
 
Quote from Rearden Metal:

You REALLY don't understand.
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You're remark truely shows who doesn't understand.

If I don't understand tell us all how it all really operates then? I need to understand, LOL.
 
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