Is Gessler, head of the SEC, trying to end zero commissions?

Are old line firms trying to eliminate zero commission model

  • yes

    Votes: 3 33.3%

  • no

    Votes: 4 44.4%

  • I am so smart that I have a work around zero commissions

    Votes: 2 22.2%
  • Total voters
    9
Z

zdreg

There are old firms on Wall Street who cannot compete with zero commission firms and are trying to get rid of zero commissions indirectly through additional regulations.
 
VEGASDESERT said:
i doubt it, sounds like he's anti wholesalers and pfof as to get most of the volume back to lit markets.

i guess.
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Please rephrase your response to make it understandable to the avg. trader. Who is he and do not includeacronyms.
 
Nobert said:
Isn't that zero commission just a myth ?

RobingTheHood sells data, eToro grabs it's chunk through spread(when you won't get filled 5% above the market with limit order, even the vol is in millions)
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Yours statement is not true. It does not happen to me. markets move fast. I have had many fills below my price because of latency with my broker. It is a scam by old line brokers to go to the SEC to regain their lost competiveness. You and Jsop have fallen industry propaganda , hook and sinker, including indirectly by one of ET sponsor, who answers prolifically on ET.
 
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zdreg said:
There are old firms on Wall Street who cannot compete with zero commission firms and are trying to get rid of zero commissions indirectly through additional regulations.
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which old firms on Wall Street are you referring to?
 
Which "old line firms"? Name them.

Is IBKR an "old line firm"?

Isn't it better to have all the costs of equity trading fully disclosed rather than hidden?

Isn't it better to have all orders sent to the public market where they can interact with each other?

No PFOF in the futures markets and futures markets work just fine.
 
jeb9999 said:
Which "old line firms"? Name them.

Is IBKR an "old line firm"?

Isn't it better to have all the costs of equity trading fully disclosed rather than hidden?

Isn't it better to have all orders sent to the public market where they can interact with each other?

No PFOF in the futures markets and futures markets work just fine.
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We are not talking futures market. IBKR is not an old line firm and is a breaker of tradition. These old line firms give thanks every night . that somehow they are able to keep their margin rates at 3 to 4x higher than IB. Imagine 8% vs. IB 2%.
 
Assume 100 tickets per days at $2/ticket on 100k Account. That would be an additional 50k per year with a ticket charge or 50% charge to capital. There is no way that I believe I am going to save that 50k without order flow. I trade stocks with.01to .03 spreads.
 
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