With the SEC moving towards limiting the amount an ECN could charge to 1.00 per thousand and thus reducing the rebates to zero this could a REAL dent into the rebaters game. Some firms have built their entire model on this type of trading. I see them closing quickly after the recomendations are excepted by Nasd, could be in 7-8 weeks.
Can you provide a link to this information? I'm interested if this will actually eliminate the ability to pay rebates. Thanks!
http://www.nasdaqtrader.com/trader/news/2004/headtraderalerts/hta2004-018.stm http://www.nasdaqtrader.com/trader/news/2004/headtraderalerts/hta2004-018a.pdf
good riddance to the parasites of the bottom feeders.....you wont be missed....your trading "philosophy" is an embarresment and anyone who sponsored and participated in that nonsense is a loser.........welcome to the machine
Hey can someone explain how these rebate traders made money? It's kinda funny that it is possible to trade and not actually make profits, yet still get paid.
Even if you get .002 cents per share($2 per thousand)as an ecn rebate,they need to trade 100,000 shares just to make $200.I don't think it's worth the effort,especially knowing that you can lose a penny or two every now and then and put you in the red.