NY removes sub-penny pricing - thoughts?

Discussion in 'Trading' started by BankBank, Jan 3, 2006.

  1. BankBank


    might hurt inet business for a few stocks. i scalp lu, but i don't think it'll affect me much.
  2. Next stop is to get rid of ECN rebates and all of the "rebate program trading". I think it's great.
  3. They should just go back to 1/8ths end of story.
  4. :(

    i don't know about you, but i can't make jack off LU anymore. i was up 9 out of every 10 days on that stock when i could just throw a +.099 offer up there and get the quick sell right after my fill. now i gotta get in line and wait at the penny. by the time i get to the front of the line, the momentum reverses, and i gotta try to bang out at breakeven.

    i know people call the sub-penny shavers the scum of the earth, but i didn't mind 'cuz i was rich scum! i know what i gotta do to re-tool, but i just don't know if it's worth the effort and risk.