Review of Decimals by SEC

[howardy2k]

I just dont get the argument about not having enuf stocks at each decimal point. If i ur a big buyer, y not place a limit order 6 cents or 12 cents above the best bid/ask. I bet u will get more than enuf stocks and will actually save ursefl some money.

 

[gimp570]

pennies allow the specialist to more easily jump in front of orders...going to nickels will make them pay up...As a trader I hate change, but There is no question the going to nickels will benefit all traders



M

 

[trdrmac]

Quote from gimp570:

pennies allow the specialist to more easily jump in front of orders...going to nickels will make them pay up...As a trader I hate change, but There is no question the going to nickels will benefit all traders


The question is why not just get rid of the specialists?? Did the Qs volume move from Amex because the specialists were doing such a fine job? Most of the world operates on electronic exchanges, why are we stuck in the dark ages?





M

 

[gimp570]

Quote from trdrmac:

While i think that the OTC is a more fair system...Don't hold you breath on any change...The specialist system has been around for over 100 years....and will be around for at least another 100

 

[jem]

Bring back nickels. Bring down transaction costs for institutions so everyone can do business again.

 

[Nordic]

Quote from freeyourmind:

[
I know I get pennied every so often. Will this be the biggest difference? Obviously, the term "pennied" would then no longer exist. [/B]

How about,

" nickled"
" nicked"
" high fived"
" low fived "
" G W'd "

 

[AAAintheBeltway]

Quote from Tea:

Decimals let the market determine what the spread should be.

Spread should be no wider than what the market demands.

It is not the job of the SEC to make more money for the exchanges or market makers who would be the prime beneficiaries of this kind of change.

I think the exchanges are trying to deflect the well deserved criticism that has come their way and are trying to encourage the SEC to look elsewhere - at hedge funds,decimals etc. and not at their rule breaking.

Exactly. If nickles would be so great, why not quarters, hey why not dollar spreads, then we would have a great big party, right? This is bs for everyone except spec's and MM's.

 

[trdrmac]

Quote from AAAintheBeltway:



Exactly. If nickles would be so great, why not quarters, hey why not dollar spreads, then we would have a great big party, right? This is bs for everyone except spec's and MM's.

That's right AAA, maybe we could go back to just MA BELL and .25 per minute for calls, Wal-Mart could no longer compete with Target, and K-Mart could come back and merge with Corvettes. And none of this 0% financing, all auto dealers would keep the same 7% rate.

Competition is terrible for the consumer.

 

[hardrock375]

Quote from trdrmac:

Competition is terrible for the consumer.

That is right! I wholeheartedly agree. Competition gives us too many choices. We should just consolidate all businesses under one international conglomerate. We can name it OneCorp. Better yet, in order to ensure management has our best interests at heart, we should make it government owned and operated. I often wonder how I ever made it this far in life having to deal with the curse'd freedom to choose. After this innovative business model comes along, I will never have to shoulder that burden again. Thank God.

 

[jem]

It is wrong to think pennies are better than nickels on the NYSE. You are long you see a nice move up starting you guess it is good for 12 cents from your entry. Specialists clerk and some guys on the floor offer at 11. Then you cancel and look at the bid. Will I get it at the bid if not where do I put my limit. How much below. Will that be far enough if a reversal starts... oh look trades one cent below my limit. Sure love these pennies more than nickels. Those two cents just cost me 100 dollars.

Nickles will tell you where to trade. Pennies are for specialists and people who are penny wise but p&L foolish. Just my 5cents.