Please dont use the word rebate and trader in the same sentence. These guys are the farthest things from real traders. I have known a few guys who went that route. Were failed "real" traders. They lasted a few months in that moronic game.
Question for you. Do you think that the change to .01 increments was a good thing for markets/traders?
NASDAQ will implement Reg NMS sub-penny changes to the NASDAQ Market Center, Brut and INET on January 31, 2006. see link below: http://www.nasdaqtrader.com/trader/news/2006/headtraderalerts/hta2006-001.pdf However, due to readiness issues at the New York Stock Exchange and the American Stock Exchange, the NASDAQ Market Center will continue to quote in penny increments in NYSE- and Amex-listed stocks trading below $1 until further notice. The NASDAQ Market Center will round any sub-penny orders/quotes received in these stocks. see link below: http://www.nasdaqtrader.com/Trader/News/2006/headtraderalerts/hta2006-009.pdf