November 30, 2011
As a new registered rep, I am shocked at the continued desire to permit more sub-penny orders. It is ilegal to front run an order submitted by a retail customer, but legal for a special few to sub-penny (front-run) the market. A ruling of this type is inconsistent with everything a free market stands for. All sub-penny orders in their current form should be banned because they are effectively front-running the market.