The tide is turning for the specialists!!!
- Thread starter Casey30
- Start date
thank you chas but believe it or not i already knew that. i was sincerely asking if anyone out there knows about the euro equity markets. i know they have somewhat recently made the transition....therefore i would be very interested to know what traders of those markets think.
There are quite a few levels of this, and unless you understand it all, it's hard to know who is screwing whom.
If Fifo really wants the system changed, they can do it quite easily. All they have to do is start funnelling their listd orders through ecn's and bypassing the specialists. If they do it, others will follow and the NYSE would quickly find itself on the outside looking in, kind of like Nasdaq now. Since Fido and other big players haven't done this, it leads me to question why not.
If Fifo really wants the system changed, they can do it quite easily. All they have to do is start funnelling their listd orders through ecn's and bypassing the specialists. If they do it, others will follow and the NYSE would quickly find itself on the outside looking in, kind of like Nasdaq now. Since Fido and other big players haven't done this, it leads me to question why not.
the simple fact teh the specialist really has the best idea of where the stock is going (crowd) and disguises is routniely in the effort to stop out everyone is enough reason to end it.
besides the fact he an hold your order to "wait and see" where the market is going is bullsh*t..
In the end, one of his main objectives (esp. when angry) is to try to steal your money and trade against you.. And the crowd allows him to see where the market si going for the most part....
Nasdaq can be annoying also, but at least one individual spec. isnt benefitting from advantages....
besides the fact he an hold your order to "wait and see" where the market is going is bullsh*t..
In the end, one of his main objectives (esp. when angry) is to try to steal your money and trade against you.. And the crowd allows him to see where the market si going for the most part....
Nasdaq can be annoying also, but at least one individual spec. isnt benefitting from advantages....
good point. I believe you will see this sooner or later... It is really an avalanche effect, once the listed ECN order flow begins to pick up, it will attract new clients and provides more liquidity, it will snowball from there, by attracting more intitutional clients, increasing the volume, etc, etc....
liquidity is the main issue on the listed side.. Plus when this happens and the NYSE volume shrinks, the 2 dollar broker role of providing insight will diminish, and therefore will the incentive to pay him...
When the bully leaves the school grounds, the beaten child worries, "But who will steal my lunch money now? It has always been this way! He gave my life a sense of order."
This really makes me wonder also. I guess Fido does need a scapegoat publicly. But I also believe that the big guys are getting pissed at the specialists ripping everyone off, including the big guys.
It's funny to see people actually defend the specialists. Put simply, it's a mafia racket. Don't believe that "fair and orderly" market BS. And what they do to day traders is small potatoes compared to what they do over long term to the masses.
Whatever Fido proposes obviously will not be to serve the public. But it will probably be better than what NYSE has going on now.
http://www.forbes.com/home_asia/2003/10/15/cz_nw_1015nyse.html
ARCA fighting back with a new auto complain program.
Personally I'll stick to trading futures.
fwiw
Bsulli
ARCA fighting back with a new auto complain program.
Personally I'll stick to trading futures.
fwiw
Bsulli