Shorting Listed outside NYSE

bungster, if you're still monitoring this, I thought you might be interested...

I talked with Bear again today. The story I got is that when credit balances are high, they make enough money on them that clearing income is insignificant. These days, credit balances are low (40+ bil vs 90+ bil a year ago), so they aren't apt to be so generous anymore.

This business is changing big time. Throw in the stress of a bear market, and things get really interesting.

Incidentally, he mentioned that credit balances are lower because people weren't putting up the margin to stay short....hmmmmm, that's thought provoking...
 
You know what else? ISLD and INCA get married, CBOE is dumping its stake in the Cincy exchange, LaBranche says its profits will be down 50%...this business is really shaking out...
 
thanks chas.

i'm just wondering how cheap nas clearing can get. obviously if PD is now charging half a cent per share for naz minimum and clearing thru southwest (which is pretty cheap) plus pass thru (quarter cent for isld, half cent for inca) it's tough to beat that.

if PD passed along the rebate for ISLD & INCA adding liquidity, i'd be all over it, but seeing as they don't i'm going thru IB to avoid the pass thrus and headaches...
 
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