NYSE Open Book
- Thread starter trader58
- Start date
I agree. It may lead to the Nasdaq'isation of NYSE trading ... headfakes galore on the part of the specialist etc.
What may emerge is a paradox:
Greater apparent transparency but lesser actual transparency.
What may emerge is a paradox:
Greater apparent transparency but lesser actual transparency.
I think the openbook will be easy to eat up on at first, but once institutions get adept at using it, it will just make for a less liquid marketplace with more headfakes and confusion.
Another case of the SEC helps the big guy and shuns the little guy.
Annual fee $60,000 (paid by the broker) plus $600 per end user... well, actually, I don't mind helping the broker and paying up $600 for the OpenBook, and nor will many others... once we have been screwed for $600, we can spend the rest of the year screwing the NYSE specialist for many times that!
Annual fee $60,000 (paid by the broker) plus $600 per end user... well, actually, I don't mind helping the broker and paying up $600 for the OpenBook, and nor will many others... once we have been screwed for $600, we can spend the rest of the year screwing the NYSE specialist for many times that!
so basically you pay what you pay for Lev II but get it delayed and specialists and trading desks can still hide what they're doing? plus it will not have ecn quotes? who thinks up this stuff?
sometimes it seems like the NYSE and the options exchanges just think if they try hard enough, they can turn the clock back 15 years and keep screwing us. we have direct access, we have globex, we have Lev II, who needs their crap with a bunch of stocks that move .25 a day ?
sometimes it seems like the NYSE and the options exchanges just think if they try hard enough, they can turn the clock back 15 years and keep screwing us. we have direct access, we have globex, we have Lev II, who needs their crap with a bunch of stocks that move .25 a day ?
