Kind of funny to watch people bitch when in fact their bitching makes changes and then they bitch again when they don't like the new changes. It's called never cry wolf.
he's upset because he probably used to use odd lots every once in awhile in a shit-hits-the-fan kind of situation, but now he can't anymore is that it?
The electronic world will eventually eliminate anything that can be described as a middleman.The best the exchanges can hope for is a listing service alla e bay. It will happen.
The specialists will be replaced by robots that's all that means. When it goes electronic it's far more easier for the big brokers to do what they want so decimalisation and things like are just a screen smoke to make people think that the market is becoming more fair ! In fact there was a good article on derivatives strategies explaining that electronig trading worsen liquidity when discussing if Matif would go electronic or not. And the fact that traders floors were wiped out of the market after that proved that it was not at the advantage of the trader notably scalpers. Liquidity has not to be confused with risk and spread of bid/ask.