If anyone know were I can read about this, please post...I doubt that it will happen but we can always hope...and pray M
If it happens you will surely know. Hoping and thinking about it all day long will only cause you to loose your sleep.
I hope they never get rid of pennies. A few spread traders might make money again, but most of us are tired of having to pay a nickle each time to execute a trade. Besides, most stocks over 10 a share trade in nickles mainly anyway. This will only mean that you can't penny some asshole who's showing 100 shares in inca and it's repeating for a billion.
Most stocks over 10 trade in nickles??? O really what stocks are those?? I will take fractions over decimals any day .
guess i'm the only one who LIKES decimals... and though donaldson seems good so far, i inherently question why the SEC would look to reverse something when they're some terrible things (RE: options, PDT, nyse problems) going on right now.
http://www.reuters.com/financeNewsArticle.jhtml?type=usFundsNews&storyID=2735511 personally i think they can, should and will change the pricing increments. the transaction cost ultimately pass through to joe public anyway. i wouldn't be surprised if the institutions are behind this move. also, the recent NYSE "scandal" shoots a big hole through the "helping the little guy" ruse.
I've only been a professional trader since decimals have been around. Never traded sixteenths or eighths. For those out there who have traded professionally for a while (before decimals), will this make trading a lot easier, or just a little? I know I get pennied every so often. Will this be the biggest difference? Obviously, the term "pennied" would then no longer exist.