BTW here is another document that talks about closing auction
http://www1.nyse.com/pdfs/8764_NYSEArca_FAQ_110225.pdf
MOC on NYSE did not execute
- Thread starter Maverick2608
- Start date
http://www1.nyse.com/pdfs/8764_NYSEArca_FAQ_110225.pdf
Stupid regulations like this is why I do not trade equities. I find it hard to imagine how someone can not think of this as a wild west casino. An MOC order which fill probability depends on the last tick in an auction which outcome is already arithmetically determined before the auction even starts.
A British punter wanted for causing the flash crash and cannot short sell a stock in the same simple way than buying a stock (subject to borrow availability). In what times are we living. US regulators really watch too much porn on the job.
A British punter wanted for causing the flash crash and cannot short sell a stock in the same simple way than buying a stock (subject to borrow availability). In what times are we living. US regulators really watch too much porn on the job.
It's another of those regulations that were essentially created for the top 1-2%. If markets were truly free and equitable then one should be able to just as easily sell than buy an asset. If regulators went after true market violators and not either after small fish or regulated everyone to death then this would be a place much more people would trust and as result conduct business at.
Not that I support those restrictions, but how are short sale restrictions supposed to favour the top 1 or 2% ?
Actually in some forums, it seems small traders keep on bitching about shortsellers, how short sales profit big players and should be banned.
It puts business owners and share holders at an asymmetric advantage. If you look at share ownership of the top 1-2% vs 98-99% then maybe my comment becomes more apparent.
don't tell others to do the research.
again you made a snake oil salesman reply. you made the statement. for the umpteenth you have proven nothing. basically you enjoy wasting other people's time with dubious conclusions while not offering a shred of evidence.
my guess is the top 1% of shareholders are long term holders and don't give a damn about meaningless to them intra-day fluctuations.
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The following is for you as you apparently have no clue about your own country's wealth distribution.
May I cite: " The Top 1 Percent Of Americans Own Half Of The Country’s Stocks, Bonds, And Mutual Funds: "
Source: The Institute for Policy Studies http://thinkprogress.org/economy/2011/10/03/334156/top-five-wealthiest-one-percent/
And yes, it does matter because with short sell rules and protection against downside (no matter how shitty a company's fundamentals) a certain minority in the population benefits proportionally more than the rest. After all there is no buy limits before/at/after a company announces blockbuster earnings.
May I cite: " The Top 1 Percent Of Americans Own Half Of The Country’s Stocks, Bonds, And Mutual Funds: "
Source: The Institute for Policy Studies http://thinkprogress.org/economy/2011/10/03/334156/top-five-wealthiest-one-percent/
And yes, it does matter because with short sell rules and protection against downside (no matter how shitty a company's fundamentals) a certain minority in the population benefits proportionally more than the rest. After all there is no buy limits before/at/after a company announces blockbuster earnings.
long term investors couldn't care. only short term traders care.