Quote from rjv27:
I think I am going to like it, it will benefit people that trade more than 1000 shs because of the unlimited NX and the sweeping of the book. The stocks will move much faster. I do not think the new program will affect stocks that trade 1MM or less or greater than 15MM. As for market shorts, I think they are not going to be as good as they were before because everyone is going to be paranoid that I whole short is going to be lifted. As a result, people are going to screw the move up by upticking and getting out to soon.
Nobody really knows, I guess we will all find out on Oct. 8 (?).
Quote from Bitstream:
rules seem specifically designed to favor the specialist; u already see the effects now, with your orders filled in a flash when u are wrong and not filled when right. specialists now have all the automated tools to screw u with more efficency then ever.
Quote from RNRBAND:
dude, the party is over
its going electronic in a month, the fat cats got their nyx shares
and dont care
what is left for the specialist? new rules made in his favor and an api to do all the grunt work.
scalping will change forever-
no more racing sdot with nx
no more enveloping as we know it
no more price improvment(although they say not- we know it is)
no more cleanups as we know them
no more steppingdown trades as we know them
no more openings gravy
all we have to look forward to is---
higher fees
blackboxes
grey boxes
no volatility(although its been dying for months in most good stocks)
no trends
complete and total lack of transparancy
I have no interest in routing to the nyx, whats the point?
I wish i could buy puts on bright trading and the rest of the big dogs
Quote from FastandFurious:
so so true. I get filled faster on new york than ecns when I'm wrong, and have to wait literally minutes to get filled (most of the time I don't get filled anyways and just cancel) when a good market short situation happens
Quote from Bitstream:
am already thinkin' about filin' a complaint to the sec. i need to video-record all the situations i found meslef lately where i either couldn't get out and had to give back all my profits and more, or couldn't get in even tho there was plenty of size on offer and a spread to pay with price movin' back and forth from my restin' lmt order many times over. this shit has happend to me every single freakin' time i placed an order on new york. i dunno how u guys can scalp effectively nyse when u are never guaranteed a fill.
Quote from eusdaiki:
Is the hibrid PACX - NYSE going to work as a single book, or as two separate entities? In terms of excecution and routing?
I like the idea of excecuting automatically up to a million shares.
Besides, the market will still be available throught the nasdaq´s DOTN platform, and it´s going to start paying liquidity rebates too... so it isn´t like the specialists are going to have a monopoly on excecution, like in the old days...