Nasdaq & NYSE different universe?

Thx god somebody here has a clue.

:)



Quote from I Missed Boat:

This sums up the total ignorance of the system. First, the NYSE has gov't oversight, but it is not a gov't entity (so specialists aren't really state/gov't sanctioned). More importantly, studies have shown that investors have long gotten better prices on the NYSE, where spreads are smaller. The Nazdaq MMs are crooks, have less accountability, are harder to keep track of, and have been sanctioned themselves (despite how much harder it is to keep track of what they do). And there's a reason why some funds and indexes stopped using the closing price on some Nazdaq stocks, and that reason is because some manipulators were spraying the big spreads at the end of the day just to impact the closing price. Its funny that you suggest specialists should have to reimburse investors, considering that the people on ET who resent the NYSE do so largely because it is less volatile, not because of how it serves investors. Due to the role of the specialists, there is better liquidity and a more orderly market on the NYSE, and the spreads are smaller, all of which serve the average investor very well.
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Quote from I Missed Boat:

This sums up the total ignorance of the system. First, the NYSE has gov't oversight, but it is not a gov't entity (so specialists aren't really state/gov't sanctioned). More importantly, studies have shown that investors have long gotten better prices on the NYSE, where spreads are smaller. The Nazdaq MMs are crooks, have less accountability, are harder to keep track of, and have been sanctioned themselves (despite how much harder it is to keep track of what they do). And there's a reason why some funds and indexes stopped using the closing price on some Nazdaq stocks, and that reason is because some manipulators were spraying the big spreads at the end of the day just to impact the closing price. Its funny that you suggest specialists should have to reimburse investors, considering that the people on ET who resent the NYSE do so largely because it is less volatile, not because of how it serves investors. Due to the role of the specialists, there is better liquidity and a more orderly market on the NYSE, and the spreads are smaller, all of which serve the average investor very well.
More...

Try trading on news events on the NYSE. News comes out, the specialists halt the trading, adjust the price and then open it again, effectively cutting the little guy out of the trade.
 
Hey max,

it's just another plug for the NYSE and the corrupt specialists. Don't worry over it. THis idiot wants to talk about ignorance, he just needs to reread his own post. What a fool to be such an idealist. He obviously has never traded before and have had to deal with massive slippage among other things.
 
Quote from JMartinez:

YES and no, Reg NMS will make Nasdaq like the new NYSE next year.
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Please clarify, how will Nasdaq be made like NYSE? Will there be market makers?
 
Quote from maxpi:

Try trading on news events on the NYSE. News comes out, the specialists halt the trading, adjust the price and then open it again, effectively cutting the little guy out of the trade.
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I have traded news events, and the halt actually PROTECTS the small investor. Since the average investor is not steadily watching the market, and some who watch actively have slow quotes or news (not everyone has Bloomberg).

If you were a small investor, or in some cases an active trader who didn't get the news yet, you wouldn't think it was very fair if your lingering buy or sell order was taken at what, given breaking news, is obviously a crazy price and easy profit for the institutional traders and MMs.
 
Quote from jackedup:

Hey max,

it's just another plug for the NYSE and the corrupt specialists. Don't worry over it. THis idiot wants to talk about ignorance, he just needs to reread his own post. What a fool to be such an idealist. He obviously has never traded before and have had to deal with massive slippage among other things.
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You're hilarious. You make stupid remarks, reflecting how dumb you are, and then you call me an idiot. I've been trading for several years buddy (which is probably longer than you), and the slippage is worse on average on Nazdaq. The spreads are bigger, and the volatility is greater. So even if you see one particular bid or ask, it can move a large amount in the blink of an eye. So give it a rest, unless you want to explain to me some more how the NYSE is a gov't entity.
 
Quote from jackedup:

Hey max,

it's just another plug for the NYSE and the corrupt specialists. Don't worry over it. THis idiot wants to talk about ignorance, he just needs to reread his own post. What a fool to be such an idealist. He obviously has never traded before and have had to deal with massive slippage among other things.
More...

hey dipshit
looks like your the ONE dealing with slippage :D
 
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