I hope we all move our trading overseas and CUNT Pelosi stews in her own juices of disbelief. She and the DemoCraps want EVERYBODY to pay except for those responsible.... Is there nohe justice in this world? ........................................................ This is already in motion..... I suspect better venues in the domicile of choice will be completed .... Wall Street made a lot of money from stock commissions, and the direct access eliminated the commission margins.... Note that the big brokerages had to move to other venues....and are no more.... Even when the NYSE tried to keep a little more....a little western based company ate their lunch...called BATS..... The NYSE started it....but they are not going to finish it....and it will most likely not be NY based..... It will be based in strategically located domiciles requiring the least legal impositions... This by no means slows the flow of capital....it will only speed it up.... Direct access is just a baby....and has replaced expensive brokerage and market makers..... Direct access traders have largely replaced MMs, and specialists because efficiency is demanded.....no different than any other business.... Cheap capital and its liquidity and distribution are too important to the world as a whole....and each exchange base will have companies moving from region to region via legal ease.....If governments want their tax money domiciled in their domain...they will have to compete for it..... In fact....direct access will be largely responsible for enabling this movement throughout the world....and will promote the distribution of wealth by default..... I suspect that there will be a world highway to all stock exchanges with little to no commissions..... Do note how Ameritrade bought direct access technology and shelved it...note how Schwab bought direct access technology and shelved it....do note how Lehman bought Real Tick....and priced it out of reach....Note how difficult it was for the NYSE to change....note how Ndaq had to change,,,,after instinet.... So even though the competition is still trying to knock us out.....we do far more volume...and they cannot offer the technology or the prices required for professional individual trading..... What is certain is that our population will grow...and once efficiency is experienced ...it is hard to go backwards.... I would think that a better domicile should be established to serve the best interests of direct accesss traders worldwide....and I am certain there are some countries who would love to service this segment....and welcome the money that it generates both in terms of markets, jobs, and capital for infrastructure..... Many countries are laying fiber optic cable as we speak... Watch it happen.....
Didn't they include some sort of 2% fee on financial service firms profits in the new bill to pay for this (if the taxpayers don't get their money back)? I think the fee would kick in after 3 - 5 years or so? I'm positive I heard this... -Guru
Of course, "redirection" or "misdirection" is a terrific strategy....wow, right out of the movie "Swordfish" with John Travolta, Halle Berry, and Huge Jackman. I loved that movie. Naturally, WE must be punished as the MM's are such "angels"...who could hurt them, right ?