What do you think about specialists on NYSE closing their operations? Van Der Moolen, Susquehanna etc. How has it been affecting profitabiltiy of trading of NYSE stocks? I know tape reading Worldco style is a dead art.
CNBC said earlier Bear Wagner Specialists may close their operations on the NYSE. Third firm this week!
I think it's great. All electronic is the way to go. No reason to have a "specialist" clogging the market. Decades of front running, stop running, and outright thievery will be the Specialists legacy.