The death of listed stock trading

You'll have to be quick. It will probably reach zero this year.

 

do people keep forecasting the death of it in order hasten its resurrection? because we all know what happens when everyone thinks something is dead.

 

No way! Gerhard Shroeder must do something with it!

"Well, germany wants only licensed traders to trade their market! They are trying to pass some legislation that will require you to be sponsored to trade the dax"

Where did you hear that? Are you talking about dax futures or stocks in dax index? I can't believe it! It is some monster BS.

 

I doubt the specialist's firms will ever allow this.

 

Isn't this already what the Amex does? This is a small negative, but think of the positives for price improvement when you're slaphappy and bailing. The 2 will counteract each other and you'll make out net-net even.

 

Could someone who is familiar with these terms please explain what exactly they mean by "unless the specialist in crossing the order obtains price improvement for it"?

The way I see it, there are really only two ways this whole new rule BS can play out:

1. The NYSE will be like any other electronically traded market, with the specialist sitting there and smiling for the camera.

2. Nothing to very little will change, and the specialists will justify the lack of change in their behavior by "crossing the order to obtain price improvement for it".

What about all the traders on here who cannot profitably trade Nasdaq, but do well with listed stocks? Will we be seeing them working at MCD soon?

Maybe Mr. Don Bright has an opinion on this whole matter.

 

There will still be plenty of good reasons to trade NYSE stocks

 

Good example. There was a little of a stretch there with the 51.25 price, however, it looks like that's how it will work.

If this is the case, then this rule is nothing but documenting what abuses have already been happening. Its very hard, other than at that fraction of the second that the execution takes place to really know whether or not you got a price improvement.

This allows them to document the ability to take you for as much as they can get, in this example at 51.50 (your price) instead of the block cross at 51.25.

During these tough times, many traders who specialized in trading NYSE stocks used to curse the screens because they'd see the cross happen and NOT get the price improvement but the prevailing Bid, and hence didn't see the benefit. So this formally allows or covers the NYSE from complaint.

Huh.

 

Yes'm, that's the gism.

 

If this goes then I need to be a specialist, because they will be the only ones making money.

inmate451