SEC Seeks Comment on Alternative Uptick Rule

Discussion in 'Wall St. News' started by Stewenson133, Aug 18, 2009.

  1. Why in the hell would a company with the most rigged advantage, as has been discussed over the last few months, all the sudden play nice?

    1. They can front run/probe orders.
    2. They pay consultants to get info from corps. 2+ weeks ahead of announcement.
    3. The are fully connected to the political structure.
    4 They have a super bot collocated at exchange.

    Why would they give up 1,2, and 3? :confused:

    Would anyone?
     
    #11     Aug 18, 2009
  2. .............................................................................

    Yeah....its summer....in Aug....

    ............................................................................

    The exchanges need to be defragmented in order to be properly and relevently regulated....

    At the moment ....because of the hodgepoge setup....
    Those that can.... game the system....

    When the fractions went away....and ecns enterred....then all of the other electronic gamers came into play.....the regulators getting even further behind .....

    Yeah...they lost the spread....but just created another "electronic vig" to take its place....

    BATS has proven the technology for electronic trading ....in that the exchange could quickly become a utility type offering....

    The computer banks could be located anywhere in the world....

    The exchange is just a time stamp electronic label name changer whereby the transaction costs could be basically nonexistent....

    What a long way we've come.....I remember how happy I was to be able to get between the bid ask on a dedicated Instinet machine.....

    ...............................................................

    What would be cool is a well run, reliable unfettered securites highway....offering a true universal account....all exchanges...all assets classes.....where transaction costs are basically nill....

    Nongameable....no black pools, flash orders, etc....

    The first time stamp wins the order.....whether its a Chinese or American grandma ....or Pimco.....same price ....same access....
    Currency.....language of choice.....with wiki style info...on all securities on the highway....

    SS's would be totally unencumbered ....no need for locates....SS total allowance by electronic tags via supply "float" available....

    ie.... a stock has 1 billion shares outstanding...then there would be 1 billion available to SS first come first served....whether it was grandma or Pimco....

    The securities highway should be more utility like....and not gameable....

    All securities should be tax free worldwide...to allow for the most efficient capital.....This would maximize innovation and allow for better wealth distribution by merit....
    ........................................................................................

    It's going to happen anyway.....via the INTERNET......


    Trading on the internet is still in its infancy.....
     
    #12     Aug 18, 2009
  3. 1 billion float and 1 billion available to short equals 2 billion shares available for sale...

    That's exactly what the allocate rules are meant to prevent...

    Shorts have to be enforced on by hammering on FTD's not by uselss downtick restrictions
     
    #13     Aug 18, 2009

  4. ..............................................................................

    No....

    Currently the larger houses have supply/locate arrangments....

    Reference is to a new exchange....non-gameable....

    In the new exchange there would be electronic tags....and large volume naked selling would be impossible....

    Tags limit supply referencing stock available....

    I see what you mean by the 2:1....

    Electronic tags would failsafe deliver.....not ot be exceeded....
    First come....first served....
     
    #14     Aug 18, 2009
  5. patchie

    patchie

    None of these rules really matter until the SEC firms up the market making exemptions and brings into law the mandatory pre-borrow.

    In lesser capitalized, less liquid markets, Market Makers continue to manipulate the stocks using the exact tactic the SEC looks to restrict public investors from using. A tighter control on "Bona-Fide Market Making" is required including the restriction of a market maker to sell into the bid when making a market.
     
    #15     Aug 18, 2009
  6. ......................................................................

    1000% correct.....

    Time to re-establish and defragment....

    With relevent regulations....
     
    #17     Aug 18, 2009
  7. They'll fight it. They don't like "risk". The old complaint, they can't make money, we'll lose liquidity........ etc. etc.
     
    #18     Aug 19, 2009
  8. We need a new uptick rule...to protect all the banks that will have to show that they are insolvent when they are forced to use mark to market accounting! Noooo, we need to protect those who have pillaged the people and committed fraud...like the banks.

    -gastropod
     
    #19     Aug 19, 2009
  9. gkishot

    gkishot

    Have any of you guys sent your comments to SEC? I guess majority of you should be against the rule, right?
     
    #20     Aug 19, 2009