well I think the author was suggesting that these fees would be viral among the other exchanges. I wish these guys would just leave it alone, and let people trade. Focus more on faster execution and finding more depth and liquidity for traders. Not ways to increase fees to discourage traders and decrease liquidity.
E-mail her if you wish, but don't fail to comment to the SEC. That's what might stop the rules against active traders. An e-mail to the ISE will only get deleted by the people who want the rule.
BOX is an example of an exchange that doesn't charge a cancel fee. Because they are unnecessary on the BOX, it makes me wonder about the legitimacy of these fees on other option exchanges.
thanks, good to know. am going to take a closer look actually... want to get a feel for pricing and liquidity of DITM options on a couple of very liquid options mkts / underlyings... not an easy area i'm told... any pointers much appreciated!
yw. mind u that u get price improvement very often because it is the only exchange that quotes options in decimals...i cant recall how many times i got 2-5c or better improvements on box...try to route direct, it saves u money.
It would seem 70% is explanable because of the smart routers choose BOX only when there is price improvement available. What % offers price improvement when YOU route direct to Box?
those stats were published in box website no long ago. besides is the only exch with a price improvement auction in pennies so it is sure more likely to get a better price there.
It's a grab for customer profits using the rule book. If the SEC approves such a thing against the public............. Well, let's just say that will be a sad day.