February 16, 2010
The sub penny algorithmic trading is a problem. I trade from my home and to have large trading companies beat my bid by 1/100 of a penny is extremely unfair. I am a small time day trader. This type of activity as well as the implementation of a transaction tax could put me out of business. I understand the rationale of the tax for large institutional traders that are contstantly using sophisticated trading programs to scalp small gains, but for small independent traders like myself who don't have access to these sophisticated trading programs, it would be very detrimental.
Thanks,
Jack martin