Yes, the numbers are massively under estimated. Yes it sucks...but the clip is interesting. I have these A$$holes take about $1100-1900 outta my profits everyday and I am just one.
YOU THINK THEY MAKE THAT LITTLE(agreed)....please, they're just trying not to upset the public anymore than they have. They make probably 5x that.
They are the last protected & licensed mob to still not be in jail. If Limit Orders could be placed & not be pennied by some idiot on the floor....they would be there.......mine were....I don't even bother now.
They are liquidity killers.
I used to get pennied by the specialist 20-25% of the time - before about 8-9months ago....now I think 60-75% ARE pennied. I think the specialist now takes 50-65% of the volume and screws the limit orders in ways you wouldn't believe. As a DIEHARD nyse trader.........even nasdaq executes better. Either be a MM or a spec.....freakin make a choice.
PISS OFF NYSE!
