Demutualization was mistake ! How to fight back against the exchanges

Discussion in 'Professional Trading' started by Kicking, Oct 1, 2006.

  1. I believe the transformation of the exchanges to for- profit companies should never have been allowed and so far has brought little benefit to the trader.

    How could the regulators have allowed exchanges to make markets in their own stock ? NYX at NYSE , NDAQ at Nasdaq ?

    In my eyes exchanges have always been the enemy of the individual off- floor trader but since demutualization and the flotation of many exchanges, exchanges' greed not just special interests threaten the retail trader .

    What can be done ? How to fight back ?

    here are just a few websites that had to stop providing some data because of jacked up fees:

    stockcharts (no more PHLX indexes)
    Chartbook (no more futures) ( no more PHLX indexes)

    When are they going to raise fees for brokers and hence retail users ? Wake up ! It's only a matter of time. Then there will be no end to their periodic fee hikes.

    NYSE seat owners were happy to get a piece of the cake now they are puking under the new fee schedule courtesy of Mr John Thain
  2. Exactly Kicking!! I have been wondering this myself. You know some douchebag manager who wants to get his next promotion/raise will come up with the bright idea to raise fees. This may not happen dramatically or right away but it will happen. The purpose of a for profit company is to maximize profits. Even though the previous arrangement was BS at least they had to justify what they did under their non-profit status. Now they will have to justify WHY they are NOT maximizing profits whenever they are able.
  3. no more free ARCA quotes in premarket and after hours

    you have to pay 10 bucks a month for it.
    When you think these quotes are essentially created by traders like you and me not market makers I find this pretty outrageous
  4. RedDuke


    But trading and quote feeds fees are tiny these days. No way they will go back to what they were in 70s and 80s. If a trader is somewhat successfull, it just does not matter becuase they are peanuts.