I am a staunch proponent of getting rid of NYSE "price improvement", as part of the NYSE overhaul. "Price improvement" equates to front-running, and to "price disimprovement" for those who use Limit Orders. The front-running activities of Specialists and floor brokers has largely been responsible for the death of the big block Limit Order. This, in turn, has helped reduce liquidity for the NYSE. "Price Improvement" is a direct manipulation of the natural laws of supply and demand of the marketplace, and is without question, the biggest flaw in the entire open outcry system. Price Improvement always existed, but has become the biggest contributor to Specialist firm profits since the invent of decimalization, according to a NYSE Specialist acquaintance of mine. Specialist/Floor brokers no longer have to improve prices by an 1/16th (.0625 cents), but can get away with improving at the cost of only .01 -- all for their benefit !!!!!!!! Why hasn't this issue been addressed of late ??? I have not heard a breath of this mentioned, in all the talk of recent reform. Here is a very interesting link, posted by a very reputable Sr. Portfolio Manager, which describes the entire problem in better detail: http://www.traderbulletin.com/stories/storyReader$770 I suggest that everyone write to the NYSE, SEC, and NASD to complain about this archaic, and highly biased system. Certainly, a fair compromise, would be to regulate price improvement to be at least a .05 improvement, when it occurred. Alternately, getting rid of it totally would also be a fair compromise. Price Improvement = Front-Running .....no if, ands, or buts !!