Quote from vicirek:
Other than creating a mess it will change nothing.
Lowes increment for retail was 1/16. Market Makers and those with direct access traded in 1/32 and 1/64. I do not remember exactly but I thing I have seen 1/128 and maybe 1/264 fractions which is sub-penny trading.
Anyway I will have to dig out my old function converting decimals to fractions for order submission. Funny.
SEC official job is to regulate market to be fair and transparent for all participants and not protect Wall Street firms and creating revenue stream for them by increasing spreads.
Yeah the smallest I ever traded was 1/16, I've never seen 1/32, 1/64, 1/128 or 1/264. If those are possible I guess fractions aren't the way the SEC will try to curb HFT.