Island trades more QQQ than the AMEX anyway. http://www.isld.com/qqq/ Plus, I am sure the Susquehanna will do anything in their power to benefit themselves (i.e., I am pretty sure that some of the option rules such as market making, turning off autoexec for locked and crossed markets are compliments of Susquehanna).
freehouse, The specialist in the QQQ's on the AMEX hurt themselves by adding the cancels. I never liked the idea and I complained to the exchange , but there was nothing anyone could do. The QQQ's are losing volume on the AMEX to the ECN's and the NYSE, so the policy didn't help them in the long run. I spoke to a floor governor on the AMEX and I was told that the policy was adopted (QQQ cancel fees), because some traders were canceling and replacing orders hundreds of times a day without making a trade . Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net