The death of listed stock trading

Quote from OVERtheLINE:



so the NYSE wants to do away with price improvment

and the SEC will double the taxes

Looks like its time to trade the DAX !!!!!!!!!!!!!



:) :) :) :) :) :) :) :) :) :)
More...

Well, germany wants only licensed traders to trade their market! They are trying to pass some legislation that will require you to be sponsored to trade the dax.
 
Quote from HomeGrown:



Well, germany wants only licensed traders to trade their market! They are trying to pass some legislation that will require you to be sponsored to trade the dax.
More...

Licensed by whom?
 
It also looks like they will be using autoquoting which will change the inside quote with new limit orders coming in or being cancelled. I wonder if the NYSE stocks will start to look like the Nasdaq quotes with people flashing and canceling fake size. I guess there will just be more noise to filter out.
 
I wouldn't worry about it, until we know that it has been activated, or at least passed (that sec link is dated 12/23/02)...

I also fail to believe that the NYSE would allow anything to happen that would hurt their monopoly and their specialists...so I don't think this change will matter much in the long run...it probably won't be anything like the change from fractions to decimals...and in that case, the game got easier for the specialists (but more difficult for us)...
 
I'm confused,

Lets say its 51.65 - 51.70 1x5, and no-one is in the book.
I bid 51.50 for 2k

Joe Panic comes in w/ a market sell order for 10k

Old Rules:

My fill: 2k @ 51.25
Spec Fill 8k @ 51.25

New Rules:

My fill: 2k @ 51.50 :eek:
Spec Fill 8k @ 51.25

Is this the jism of it?
 
Quote from thetraderprofit:

...Further, NX orders which improve the inside market will be auto-reflected in the NYSE quote, without the previous requirement that the specialist update the quote...
More...
Hmmm,

I think I like this part.

nitro
 
I also fail to believe that the NYSE would allow anything to happen that would hurt their monopoly and their specialists...so I don't think this change will matter much in the long run...it probably won't be anything like the change from fractions to decimals...and in that case, the game got easier for the specialists (but more difficult for us)...


I can't imagine this last comment could be farther from the truth. Decimals have crippled any type of market maker.
 
It looks like it allows you to split the bid-ask.

This will allow online traders to act as listed market makers.

It would be a boon to daytraders the way it was when traders were allowed to split the bid-ask (and have it show up as best bid or ask) on Nasdaq.

I don't think it is the NYSE that is pushing this, but rather the SEC. They allow the NYSE to save face making it seem like it was their idea.

Of course there is much that can slip, between the lip and the cup.
 
You must log in or register to reply here.
Back
Top