The technology will certainly improve over time, and since we're dealing with a real marketplace (single place, not scattered), we don't really care about the "instant gratification" nearly as much as we care about good fills and good markets. It doesn't matter how "fast" you are if you can't "hit what you're aiming at'...which is profitable tape reading skills and real market liquidity. We will continue to see the merging of technology and I am obviously a fan of electronic trading (99.9% of all our trading is electronic)...I just like the idea that we have a level playing field. The "video game" aspect of ECN trading is fine for some, and with all multiple destinations for your orders during the day...I see this OTC vs. Listed question becoming moot very soon. I spent some time on the NYSe while I was in NY this last week..and the Specialists I spoke with, although not "embracing" all the changes, (ECN, NX, ITS tie ins, etc.), are certainly going along with the program. Talk of multiple Specialists was broached and a couple of people liked to have help in sharing the risk. FWIW... Don
You are damn right Tea. If they would prohibit all trading from today on, I'm sure it will be fixed by tomorrow morning. If needed they could call Grasso back to the job to do the fix for free this time. nononsense