May 10, 2009
Up tick rule will drive up the cost of trading. Take Bank of America. It trades 10's off million shares a day. Uptick rule could not possibly matter.
Most stock's trade on several exchanges, in ECN BOOKS plus market makers not all having the exact price. The stock could be having up and down ticks at the same time? With electronic trading I think the up tick rule wil be impossible to comply with and would be a complete waste of money to change all the computer programs. It will trive up the cost of trading and simply will not work.