This thread dedicates to ideas for new coming exchange fees. All retail firms which provide API for automated order entry should be charged a $1.99 for every two consecutive orders. This is a very fair specific non-arbitrary rule, SEC approve pending. Thanks.
I was going to suggest fees for shaving your legs, but apparently the S.E.C. has already instituted that one.
How about this one. NYSE, NASDAQ, and major ECNs should be considering a new fee. This new fee applies to all executed, pending, cancelled, modified orders. The rate depends on how long the orders stay in the execution systems. If it is less than 5 seconds, the exchange will rebate the fees as a pity for the customer. Then if it is more than 601 seconds, a flat $0.01 fee per 29 seconds (with 1 second a pity). And a flat $0.049 per 289 seconds for 3005 seconds or longer and so on. It is more flexible than the fee schedule of a phone company. Whoever holds the customers orders will get rebate. yes, rebate. yeah, rebate. Right on! New business model in the new patriotic era! yeeeeeeee-haaaaaaaaaaaaaaaaaaaaaa!!!!!!!!!!!!!!!
*************Disclaimer******************* All ideas here are protected by the Iraqi property laws. Permission is a must before any use.
Let me propose a new fee/rule today. If you use only two fingers to enter orders, there will be no extra fees. If you use 10 fingers, there will be a $0.01 per key. If you use mouse, pay $1 per click. If you pick you nose while entering order, pay $10 extra. Thanks.
Dear Sir/Madam: I am writing to you to voice my strong objection to your new $10 Nose-picking fee. This fee is unfair, illogical, and it penalizes the small account trader, such as myself. I trade a small account from my own home. I do not work for a large investment company. I do not have a fancy office to go to. Now, when I am here, all by myself in front of my computer, it is a very different social environment than for traders who may work for a company with more employees. I am not concerned about social appearances. As I have no-one else to rely on or to get advice and help from when I am trading, all my attention and focus must be spent on the constant movements of the stocks. With all my concentration absorbed by the stock market, I cannot afford the luxury of self-conscious behavioral restraint. Therefore, especially in this time of seasonal weather changes and the accompanying germs and viruses which emerge from hibernation, if I find myself beginning to accrue an accumulation of mucus within my nasal passages, my finger may completely unconsciously reach to clear the nostril of the semi-liquid impediment, before it dries out and forms a solid interior wall that might cause increased discomfort. I feel that to charge me the exhorbitant fee of $10 is truly an outrage, and is entirely contrary to the spirit of free enterprise. People in all walks of life, including those in the public services sector, pick their noses day and night, without being charged for it. Yet I, who spend my time alone, where it's no-one else's concern, am to be charged $10 for the natural maintenance of clear non-oral airway passage? Ridiculous!!! I object most strongly. Thank you for your time and consideration of this timely issue. p.s. to all who would join me in protesting this fee, I suggest a general boycott. We should organize a general strike. All united independent traders, I urge you to do what any other union does under such circumstances. When your nose goes on strike, you must picket!