About Sub-Pennying - High Fequency Trading

MohdSalleh · Jan 12, 2010

Quote from RedDuke:

Are you an idiot? This will put almost everyone out of business, and the biggest shops will get some kind of exemption.

Do you even trade?
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he is probably a retiree long term investor like 99% of people on this site.

Anaconda · Jan 12, 2010

Quote from traderum:

I would say the SEC is a useless organisation, it's working for such gangsters, not for the public.
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Took you that long to figure out? I mean really, it's not like they ever claimed to make matters fair on Wall Street.

swiftmike99 · Jan 12, 2010

Quote from ASusilovic:

Dark Pools Being Used to Step in
Front of the NBBO.

Presented by:
Dennis Dick, CFA
Trader Member of Bright Trading LLC
Email: 4CJG@brighttrading.net
Phone: Will provide through email
correspondence.

Proposal to Review SEC Rule 612:
The Sub Penny Rule
SEC rule 612 was implemented to protect the
integrity of the NBBO (National Best Bid and
Offer). It has come to our attention that the rule
needs to be reexamined and opened up once
more for public comment. It is our belief that
Broker-Dealers and Algorithmic programs (also
known as High Frequency Traders) are
circumventing the current rule by stepping
ahead of the NBBO through the use of dark
pools and in-house trading.

http://www.defendtrading.com/SubpennyinginDarkPoolsCompromisingNBBO.pdf

Must read.
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I don't understand, who is allowed to sub-penny on a stock like C 50% its sub penny.

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About Sub-Pennying - High Fequency Trading

MohdSalleh

Anaconda

swiftmike99