Read a couple posts on here about how the SEC is going to seek to end the rebate trading/liquidity game. Wondering how this is going to affect some of the weaker prop firms, namely the ones that rely heavily on rebate trading to generate massive volume and commissions for the firm. Possibly this hit to a firm's volume numbers will raise their clearing rate, narrowing the gap between the bargain-basement-might-be-folding-tomorrow shops and the legit ones. Or the hit to revenues might push them further towards the brink of insovency. Furthermore this could affect everyone as the lower volume from rebate-monkeys will ultimately cause the SEC to have to raise the SEC fees (section 31 fees). (Unless of course the rebate traders find another strategy that generates the same volume numbers, which I'd say is VERY VERY doubtful.) Opinions? Ace.