Lets redistribute some of that wealth right over here ...Robin Hood. Not holding my breath. http://sec.gov/news/press/2010/2010-55.htm
Finally, it looks like the SEC is finally doing its job. With this kind of info we would be able to identify which programs were responsible for the flash crash and whether it was manipulation. SEC also needs to create its own version of an algo program, that acts like a computer trading "policeman" shadowing all the programs watching what they do in real time.
Saw the section on comments but does not look like its available right now. Nevertheless, not sure how feasible the idea is but I guess its possible.
If the SEC is doing something (other than surfing for porn), it is most definitely not in the retail trader's best interest, even if it looks as though it is.
retail investors don't matter in the market,,retail volume is a tiney fraction intra-day volume it's the instittutions (brokers/dealers) and HFT guys that own the market. and the SEC can't touch them and can't regulate them etc..
you got that right...... den of thieves. I wish I was 1 of them. yes.......for 50-100 million/year........ I could be "unethical"
EXACTLY! Actually, this is much worse for the retail trader because it will suck more liquidity out of the market as these more "large traders" will seek dark pools and off floor execution. Or they'll seek to trade on foreign exchanges - most stuff is listed on multiple exchanges around the world. Less liquidity means more price volatility and higher transactions costs for Joe Retail who will be going to the exchange to execute his order. by "large traders" they're talking about hedge funds. But, if hedge funds and other asset managers have to identify themselves the way a market maker does, then people will be able to figure out their proprietary strategy. There are already people who try. Now, brokers aren't allowed to reveal who their customers are. This will either never see the light of day or it will screw retail investors. But, I do love how retail guys are doing cartwheels (as usual) right to their own funeral.
That's because of regulatory capture. Not only are the guys being regulated smarter and more nimble than the regulator, but if the regulator is too tough, it runs the regulated out of business and loses power. No regulator wants to lose power. Deregulation is the best thing a retail guy could hope for, but he's always begging for more regulation and then when the shit storm comes (as it did last week), he begs for more stuff to make the shit storm worse for him next time. Learn, retail guys. LEARN.