April 16, 2009
I would ask as a side note, to go back to 1/16ths or your proposed increment of .05 cents.
You know, the market was just fine for 100 years. I understand sometimes to evolve and change, however, the
markets traded just fine and orderly. You have removed many many traders, floor brokers, etc, etc. People that used to rely on this as a living.
Your original theory was to help the mom and pops get better pricing. Meanwhile the mom and pops still had their jobs, and many traders careers were ruined when this rule went into effect.
The uptick rule should be reinstated. A penny increment would not work. That would not help much. However, with a nicket spread that would work with the uptick rule.
I know there are some major players responding on here.
However, like you thought of mom and pops back in 2000-2001.
How about looking at the traders, who helped provide liquidity, and stability, and bring some of them back to the market. You bring back a bigger spread. That will bring some more liquidity and stability back. That coupled with the uptick rule, would do everyone justice.
Thanks for reading the comments.