Is Gessler, head of the SEC, trying to end zero commissions?

Discussion in 'Wall St. News' started by zdreg, Oct 22, 2021.

Are old line firms trying to eliminate zero commission model

  1. yes

    3 vote(s)
  2. no

    4 vote(s)
  3. I am so smart that I have a work around zero commissions

    2 vote(s)
Multiple votes are allowed.
  1. zdreg


    There are old firms on Wall Street who cannot compete with zero commission firms and are trying to get rid of zero commissions indirectly through additional regulations.
  2. i doubt it, sounds like he's anti wholesalers and pfof as to get most of the volume back to lit markets.

    i guess.
    murray t turtle likes this.
  3. zdreg


    Please rephrase your response to make it understandable to the avg. trader. Who is he and do not includeacronyms.
  4. Nobert


    Isn't that zero commission just a myth ?

    RobingTheHood sells data, eToro grabs it's chunk through spread(when you won't get filled 5% above the market with limit order, even the vol is in millions)
    comagnum, d08 and murray t turtle like this.
  5. zdreg


    Yours statement is not true. It does not happen to me. markets move fast. I have had many fills below my price because of latency with my broker. It is a scam by old line brokers to go to the SEC to regain their lost competiveness. You and Jsop have fallen industry propaganda , hook and sinker, including indirectly by one of ET sponsor, who answers prolifically on ET.
    Last edited: Oct 22, 2021
  6. 2rosy


    which old firms on Wall Street are you referring to?
  7. Which "old line firms"? Name them.

    Is IBKR an "old line firm"?

    Isn't it better to have all the costs of equity trading fully disclosed rather than hidden?

    Isn't it better to have all orders sent to the public market where they can interact with each other?

    No PFOF in the futures markets and futures markets work just fine.
  8. zdreg


    We are not talking futures market. IBKR is not an old line firm and is a breaker of tradition. These old line firms give thanks every night . that somehow they are able to keep their margin rates at 3 to 4x higher than IB. Imagine 8% vs. IB 2%.
  9. zdreg


    Assume 100 tickets per days at $2/ticket on 100k Account. That would be an additional 50k per year with a ticket charge or 50% charge to capital. There is no way that I believe I am going to save that 50k without order flow. I trade stocks with.01to .03 spreads.
  10. zdreg


    The ones which have ticket charges.
    #10     Oct 22, 2021